Award

Pension Advisors

NEW MODEL IN TECHNOLOGY & ENGINEERING

This public procurement record has 2 releases in its history.

AwardUpdate

08 Jan 2018 at 10:13

Award Notice
Award

08 Jan 2018 at 09:36

Award Notice
Summary of the contracting process

The New Model in Technology and Engineering (NMiTE) is seeking pension advisor services as part of a tender process initiated to set up a defined contribution pension scheme for its employees, along with associated life assurance and health insurance arrangements. The tender, titled "Pension Advisors," falls under the consultancy services category and is located in the West Midlands, UK. The procurement method used was an Other - Quotation Procedure, with a minimum total contract value of £63,850, culminating in an award made on November 16, 2017. The contract period is set to run from November 22, 2017, to February 21, 2021, with the tender process itself concluding on November 3, 2017.

This procurement presents a significant opportunity for consultancy firms specialising in pension fund advisory services, particularly those capable of providing ongoing governance support and adapting to changes in pension legislation. Small and medium-sized enterprises (SMEs) would find this opportunity well-suited, given the type of engagement and the competitive nature of tendering that invites multiple qualified organisations. The awarded contract is currently held by Barnett Waddingham LLP, indicating the potential for similar firms to expand their client base by providing relevant and comprehensive pension advisory services.

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Notice Information

Notice Title

Pension Advisors

Notice Description

NMiTE (New Model in Technology and Engineering) is the project name for a brand new HE institution with a mission to address the UK engineering skills shortage. It will offer a new approach to learning, based on real-world problem solving and blending high quality engineering, design, liberal arts and humanities with communication and employability skills that employers need. The first full cohort will join in September 2020. NMiTE has commissioned pension advisor services via this procurement. The advice services were in respect of the establishment of a defined contribution pension scheme for all employees, plus life assurance and health insurance arrangements. Specific advice was requested in respect of the structure of the pension scheme, plus support in respect of the procurement of the provider of the pension scheme. Also, requested was ongoing advice on pension governance and changes to pension law throughout the term of the contract. The services were commissioned via quotes from suitably qualified organisations. 5 organisations were invited and 2 quotes were received.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-316217bb-f702-4a92-8e3c-a79c9721d2c1
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/574c239e-3703-4708-8787-d0941c5e7745
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Not Specified
Procurement Method Details
Other - Quotation Procedure
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66523000 - Pension fund consultancy services

Notice Value(s)

Tender Value
£75,000 Under £100K
Lots Value
Not specified
Awards Value
£63,850 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
8 Jan 20188 years ago
Submission Deadline
3 Nov 2017Expired
Future Notice Date
Not specified
Award Date
16 Nov 20178 years ago
Contract Period
22 Nov 2017 - 21 Nov 2021 4-5 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
NEW MODEL IN TECHNOLOGY & ENGINEERING
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
HEREFORD
Postcode
HR1 2HX
Post Town
Hereford
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG1 Herefordshire, Worcestershire and Warwickshire
Small Region (ITL 3)
TLG11 Herefordshire, County of
Delivery Location
TLG West Midlands (England)
Local Authority
Herefordshire, County of
Electoral Ward
Central
Westminster Constituency
Hereford and South Herefordshire

Supplier Information

Number of Suppliers
1
Supplier Name

BARNETT WADDINGHAM

Further Information

Notice Documents

Notice URLs

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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