Planning

Teachers' Pension Scheme Administration Service

DEPARTMENT FOR EDUCATION

This public procurement record has 2 releases in its history.

Planning

25 Apr 2018 at 14:12

Market Engagement Notice
Planning

13 Oct 2017 at 16:21

Market Engagement Notice
Summary of the contracting process

The Department for Education is currently in the planning stage for the procurement of the "Teachers' Pension Scheme Administration Service." This service will involve the collection of pension contributions and payment of retirement pensions and lump sums for the second largest public sector pension scheme in England and Wales, which serves over 1.9 million members. This procurement is classified under the industry category of "Pension fund administration services" and aims to engage a provider by the milestone date of 31 July 2018.

This tender presents substantial opportunities for businesses, particularly those specialising in financial services, pension administration, and large-scale transactional processing. Entities with the capacity to manage high-volume services involving complex regulatory compliance and customer engagement would be well-suited to compete for this contract. Given the significant financial scale of the Teachers' Pension Scheme, potential providers should be prepared to handle annual contributions totalling £6 billion while also managing payouts reaching £9.5 billion.

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Notice Information

Notice Title

Teachers' Pension Scheme Administration Service

Notice Description

See 'Attachments' for full description. This service provides for the collection of all pension contributions from currently employed teachers within England and Wales and payment of retirement pensions and lump sums. The TPS is the second largest public sector pension scheme in England and Wales, with over 1.9m members. The TPS is a high volume transactional service that collects contributions that total PS6bn, whilst also paying out pensions and lump sums that total PS9.5bn annually. Contributions are collected from member employers and these number approximately 9,500. Member employers pay scheme contributions equivalent to 16.4% of the member's pensionable salary, plus an additional 0.08% to meet the costs of scheme administration. The TPS is regulated in line with pension Regulations and subject to regular external scrutiny from the National Audit Office.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-7701257a-46b6-4d3d-a2d6-97c04c01871f
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/061468ee-7ecb-4de8-b12f-8679d7f639a8
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
Market Engagement Notice
Procurement Type
Standard
Procurement Category
Not specified
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66523100 - Pension fund administration services

Notice Value(s)

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

Notice Dates

Publication Date
25 Apr 20187 years ago
Submission Deadline
Not specified
Future Notice Date
31 Jul 2018Expired
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Planning
Lots Status
Not Specified
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
DEPARTMENT FOR EDUCATION
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
DARLINGTON
Postcode
DL1 5QE
Post Town
Darlington
Country
England
Major Region (ITL 1)
TLC North East (England)
Basic Region (ITL 2)
TLC3 Tees Valley
Small Region (ITL 3)
TLC33 Darlington
Delivery Location
Not specified
Local Authority
Darlington
Electoral Ward
Park East
Westminster Constituency
Darlington

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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