Tender

Project Metz

WIRRAL BOROUGH COUNCIL

This public procurement record has 2 releases in its history.

Tender

29 Sep 2023 at 10:27

Tender Notice
Tender

29 Sep 2023 at 10:18

Tender Notice
Summary of the contracting process

The Wirral Borough Council has initiated a tender process for Project Metz, involving the buy-in of pensions within the Merseyside Pension Fund attributed to Arriva Merseyside Limited. The procurement is under the services category, with a contract value of £200,000,000. The process commenced on 29th September 2023 with a tender period ending on 31st October 2023. Key dates include the SQ submission deadline on 31st October 2023 and the RFP Round 1 response deadline on 15th January 2024.

This opportunity presents potential growth prospects for businesses in the insurance and pension services sector. Companies experienced in long-term investments and competitive broking exercises would be well-suited to bid for this contract. The process involves multiple stages, including the submission of SQ responses, RFP rounds, and clarification periods. Wirral Borough Council is the contracting authority, and the procurement method details are listed as "Other -".

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Notice Information

Notice Title

Project Metz

Notice Description

Buy-in of all pensions in payment and other members who are no longer actively accruing benefits within the Merseyside Pension Fund which are attributed to Arriva Merseyside Limited Wirral Council in its capacity as the Administering Authority of the Merseyside Pension Fund (the "Fund") wishes to purchase a bulk annuity to be held as a long term investment in respect of all pensions in payment (except Children's pensions) and all other members who are no longer actively accruing benefits within the Fund which are attributed to Arriva Merseyside Limited. The Fund is a Local Government Pension Scheme ("LGPS") and is therefore subject to additional constraints when conducting competitive broking exercises. We have described these in more detail in the Explanatory Note issued with the Selection Questionnaire. The LGPS is a non-sectionalised, multi-employer Scheme and the focus of this project is a sole employer within the Fund. The Administering Authority have all the necessary power to unilaterally undertake the purchase of the bulk annuity, however the project is being commenced with the full support of the Employer and therefore the Client and the Employer have jointly agreed to pursue a buy-in strategy in relation to deferred and pensioner members of the Fund as the next step in the Employer's de-risking journey. Please note due to the nature of the contract the exact contract length cannot be determined, to accommodate this the contract length for the purposes of this notice has been set at 9999 months. The contract will have no fixed end date Timeframe Task Description September 2023 Contract Notice published Contract Notice published on Find a Tender Service and SQ made available to prospective bidders 11 September 2023 to 16 October 2023 Introductory calls Bidders are invited to request to attend one introductory conference call with Mercer as advisors to the Authority. 31 October 2023 SQ submission deadline Bidders are required to submit their SQ responses by no later than 12:00 on this date 7 November 2023 SQ outcome Bidders will be notified in writing of the outcome of the SQ process 8 November 2023 RFP Round 1 released The RFP will be released via CHEST to all bidders who met the SQ requirements. 15 January 2024 RFP Round 1 response deadline Bidders must submit a complete response to the RFP via CHEST by 12:00 on this date. 29 January 2024 Clarifications As necessary, questions of clarification may be raised with you by Mercer or the Authority via CHEST in order that an appropriate score can be awarded. 12 February 2024 RFP Round 2 released All bidders will be provided with feedback on their scores and 3 bidders will be invited to submit a best and final proposal. 12 March 2024 RFP Round 2 response deadline Bidders must submit a complete response to the RFP via CHEST by 12:00 on this date. 26 March 2024 Clarifications As necessary, questions of clarification may be raised with you by Mercer or the Authority via CHEST in order th Additional information: For the tender opportunity, all documentation, expressions of interest, questions and submissions please visit Th Chest portal at http://www.the-chest.org.uk

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-11cace75-db49-4f65-83ea-c67bcdfc8f95
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/feb64af2-96f2-4df1-8a59-61960bafac1b
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Other -
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66500000 - Insurance and pension services

Notice Value(s)

Tender Value
£200,000,000 £100M-£1B
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
29 Sep 20232 years ago
Submission Deadline
31 Oct 2023Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
4 Feb 2024 - 30 Sep 2856 Over 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
WIRRAL BOROUGH COUNCIL
Contact Name
Not specified
Contact Email
tenders@wirral.gov.uk
Contact Phone
+441516062002

Buyer Location

Locality
WALLASEY
Postcode
CH44 8ED
Post Town
Chester
Country
England
Major Region (ITL 1)
TLD North West (England)
Basic Region (ITL 2)
TLD7 Merseyside
Small Region (ITL 3)
TLD74 Wirral
Delivery Location
TLC North East (England), TLD North West (England), TLF East Midlands (England), TLG West Midlands (England), TLH East (England), TLJ South East (England), TLK South West (England)
Local Authority
Wirral
Electoral Ward
Seacombe
Westminster Constituency
Wallasey

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

Download

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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