Award

Pensions Covenant Monitoring

WOLVERHAMPTON CITY COUNCIL

This public procurement record has 1 release in its history.

Award

18 Nov 2016 at 20:17

Award Notice
Summary of the contracting process

The procurement process titled "Pensions Covenant Monitoring" is administered by Wolverhampton City Council, acting on behalf of the West Midlands Pension Fund. This initiative, classified under financial and insurance services, has its contract period starting from 1st February 2016 and concluding on 31st January 2018. The tender was awarded on 29th December 2015, with a total value of £100,000. The delivery of services is expected to take place in the West Midlands, United Kingdom, and the procurement method involved is categorised as "Other".

This tender presents a significant opportunity for businesses specialising in financial and insurance services, particularly those with expertise in pension funds and covenant strength analysis. Companies capable of providing detailed assessments, strategies for funding, and negotiation support related to actuarial valuations would be highly competitive. As this project involves ongoing monitoring and potential critical evaluations, firms with a strong background in public sector financial consulting could find robust avenues for growth through this contract.

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Notice Information

Notice Title

Pensions Covenant Monitoring

Notice Description

The Local Government Pension Scheme (LGPS) is a national scheme administered on a local basis by Wolverhampton City Council as Administrating Authority of the West Midlands Pension Fund (WMPF) and West Midlands Integrated Transport Authority Pension Fund (WMITA), providing current and future benefits for 280,000 scheme members. Both Funds are referred to as 'the Fund' throughout this report. The Fund has implemented a framework for the monitoring of its participating employers with regards to covenant strength. Whilst this framework constitutes baseline data upon which to assess the high level covenant strength of each employer, there will be instances where more detailed analysis will be required, for instance: * As an independent review of a specific employer's covenant strength is required * For "critical cases" whereby the baseline data analysis flags a concern * As a funding strategy/contribution setting aid * To support negotiation with specific employers around the triennial actuarial valuation

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-3f602d68-adc9-11e6-9901-0019b9f3037b
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/c3d0e8f0-8dee-4007-bc46-d4e26be05c80
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 -
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
£100,000 £100K-£500K
Lots Value
Not specified
Awards Value
£100,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
18 Nov 20169 years ago
Submission Deadline
2 Dec 2015Expired
Future Notice Date
Not specified
Award Date
29 Dec 201510 years ago
Contract Period
1 Feb 2016 - 31 Jan 2018 2-3 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
WOLVERHAMPTON CITY COUNCIL
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
WOLVERHAMPTON
Postcode
WV1 1RL
Post Town
Wolverhampton
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG3 West Midlands
Small Region (ITL 3)
TLG39 Wolverhampton
Delivery Location
TLG West Midlands (England)
Local Authority
Wolverhampton
Electoral Ward
St Peters
Westminster Constituency
Wolverhampton West

Supplier Information

Number of Suppliers
2
Supplier Names

DELOITTE

PWC

Further Information

Notice Documents

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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