Tender

LGPS Pool Administrator

DEFRA NETWORK ETENDERING PORTAL

This public procurement record has 1 release in its history.

Tender

28 Apr 2017 at 15:09

Tender Notice
Summary of the contracting process

The procurement process is initiated by the Defra Network eTendering Portal for the position of LGPS Pool Administrator, focusing on pension services within the public sector. This tender falls under the open procedure procurement method and is currently in the Tender stage, with a submission deadline set for 5th June 2017. The resulting contracts will manage a significant asset pool of approximately £22 million across various local government pension schemes primarily located in the South and Southwest of the UK, with the contract set to commence on 1st August 2017 and last for a maximum of ten years.

This tender presents a valuable opportunity for businesses in the financial services industry, particularly those specialising in pension fund administration and custody services. Companies that can provide efficient asset management solutions and have experience in similar public sector contracts will be well-positioned to compete for this procurement. Furthermore, small and medium enterprises (SMEs) are specifically encouraged to apply, creating a potential avenue for growth in this competitive market.

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Notice Information

Notice Title

LGPS Pool Administrator

Notice Description

In July 2015, the government announced in its Budget that they wanted the 89 Local Government Pension Schemes (LGPS) to pool their investments. In response to this agenda, Project BPP was set up to explore the options for pooling investment assets across ten LGPS across the South and Southwest UK. The founding pension scheme Clients are The Environment Agency Pension Fund, of which there are two constituent Local Government pension schemes, and the Avon, Buckinghamshire, Cornwall, Devon, Dorset, Gloucestershire, Oxfordshire, Somerset and Wiltshire local government pension schemes. Project BPP will create an FCA regulated entity (the Company) which will manage the investments of the 11 underlying Clients. The assets under their management will total approximately PS25 billion. At the time of this tender the Company is not yet operational. The Company will be incorporated as a private limited company registered in England and Wales under the joint ownership of the Clients prior to the Custodian and Administrator Services contracts being awarded. The purpose of this Tender is to procure the following contracts for the Clients listed in this notice and the Company: one Administrator Services contract with the Company; and ten Custody contracts with each of the Clients individually. The contract with the Company for the Administration services will be the master agreement for the entire BPP relationship. The term of the administration Services contract will be for an initial period of 5 years. After the initial period the Company will have the option to extend for three years and then a further two years, resulting in a maximum contract term of 10 years. The Custody Services contracts will have different contract start dates in line with transition, (more details are available in the Tender Document) but will have the same contract end date as the Administration Services contract. More information on the services that are required to be provided under these two forms of contract can be found in the Tender Documents. All contracts will be awarded to one successful bidder. This procurement is being managed through the Environment Agency's online procurement portal, Bravo.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-6816cb21-8c6b-477c-bb70-b5fb02d9417b
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/9f34b7c1-194b-408d-b58d-f7d164505562
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
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66520000 - Pension services

Notice Value(s)

Tender Value
£22,000,000 £10M-£100M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
28 Apr 20178 years ago
Submission Deadline
5 Jun 2017Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
31 Jul 2017 - 31 Jul 2027 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
DEFRA NETWORK ETENDERING PORTAL
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BRISTOL
Postcode
BS1 5AH
Post Town
Bristol
Country
England
Major Region (ITL 1)
TLK South West (England)
Basic Region (ITL 2)
TLK5 West of England
Small Region (ITL 3)
TLK51 Bristol, City of
Delivery Location
Not specified
Local Authority
Bristol, City of
Electoral Ward
Hotwells and Harbourside
Westminster Constituency
Bristol Central

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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