Tender

Accounting for Pension Costs

UK SHARED BUSINESS SERVICES LIMITED

This public procurement record has 1 release in its history.

Tender

15 Mar 2019 at 15:17

Tender Notice
Summary of the contracting process

The UK Shared Business Services Limited is currently conducting a tender titled "Accounting for Pension Costs" within the pension fund management services industry. This procurement process is at the tender stage, and interested parties can submit their bids until 29th March 2019. The contract is scheduled to commence on 10th April 2019, ending on 31st May 2023. The tender follows an open procedure, which is a transparent process designed to encourage participation from a wide range of suppliers. Bids must be submitted through the CCS eSourcing portal, and specific registration details are provided in the tender notice.

This opportunity presents significant potential for businesses specialising in actuarial and pension services to expand their market presence. Companies that offer expertise in preparing financial reports in accordance with IAS 19, particularly those familiar with defined benefit pension schemes, would be well-suited to compete for this contract. Engaging in this tender can also benefit small and medium enterprises (SMEs) looking to strengthen their portfolio in the public services sector, given that the procurement has a provision for SME participation.

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Notice Information

Notice Title

Accounting for Pension Costs

Notice Description

In accordance with International Financial Reporting Standards (IFRS) as adapted and interpreted by the HM Treasury Financial Reporting Manual (FReM) , BEIS prepares consolidated annual financial statements. During this process, BEIS collects financial and non-financial information that is subject to judgements, estimates and assumptions, which in some cases, are based upon professional's valuation and/or assessment. Defined benefit pension schemes are such an area as they require an actuarial valuation to prepare pension accounting disclosures in accordance with IFRS standard IAS 19 'Employee Benefits'. * Objectives: To provide: Accounting for pension costs - IAS 19 disclosures for the Dounreay Section of the Combined Nuclear Pension Plan 2018/19 IAS 19 disclosures, including movements in the Statement of Comprehensive Net Expenditure, year-end position in the Statement of Financial Position and other disclosures required under the standard. How to Apply As part of the strategic alliance between UK Shared Business Services Ltd (UK SBS) and Crown Commercial Service (CCS), UK SBS will be using the CCS eSourcing Suite for this procurement. To register on the CCS eSourcing portal please follow the details contained within the Additional Information section of this notice. If you are already registered on the CCS eSourcing portal and wish to register your interest in this opportunity please email; expressionofinterest@crowncommercial.gov.uk Your email must clearly state: * the name and reference for the procurement you wish to register for; * the name of the registered Bidder; * the name and contact details for the registered individual sending the email. Please disregard any content in this notice that requests your organisation "to apply directly to the buyer" as this unfortunately a system generated error, that is outside of the Contracting Authorities control.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-09004781-b0b5-43a4-a590-4222219f39d5
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/39e3f546-02b1-4d2f-b676-b6e8b78bc4bd
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (below threshold)
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66141000 - Pension fund management services

66519600 - Actuarial services

66520000 - Pension services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
15 Mar 20196 years ago
Submission Deadline
29 Mar 2019Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
9 Apr 2019 - 31 May 2023 4-5 years
Recurrence
Not specified

Notice Status

Tender Status
Active
Lots Status
Not Specified
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
UK SHARED BUSINESS SERVICES LIMITED
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
SWINDON
Postcode
SN2 1FF
Post Town
Swindon
Country
England
Major Region (ITL 1)
TLK South West (England)
Basic Region (ITL 2)
TLK7 Gloucestershire and Wiltshire
Small Region (ITL 3)
TLK71 Swindon
Delivery Location
Not specified
Local Authority
Swindon
Electoral Ward
Rodbourne Cheney
Westminster Constituency
Swindon North

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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