Award

LPS CORP - Provision of Pension Fund Custodian Services To Lancashire County Council

LANCASHIRE COUNTY COUNCIL

This public procurement record has 3 releases in its history.

Award

12 Apr 2018 at 10:53

Award Notice
TenderAmendment

19 Dec 2017 at 15:33

Tender Notice
Tender

19 Dec 2017 at 15:21

Tender Notice
Summary of the contracting process

Lancashire County Council is procuring Pension Fund Custodian Services for the Lancashire County Pension Fund through an open procedure. The procurement process, initiated on 19th December 2017, has a tender period that ended on 26th January 2018, with the contract officially starting on 1st April 2018 and concluding on 31st March 2021, potentially extendable for three additional years. The estimated total contract value ranges between £900,000 and £2,100,000, with an anticipated annual value of £250,000. The services are to be delivered in the North West region of the United Kingdom.

This contract presents an opportunity for businesses specialising in custodian services, particularly those with experience in asset safekeeping, trade settlements, and investment accounting. Companies capable of competing effectively in this space include large financial institutions and service providers with the capacity to manage complex pension fund requirements. Engaging in this procurement can enhance a business's portfolio, particularly for those that can demonstrate a strong track record in similar service provision.

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Notice Information

Notice Title

LPS CORP - Provision of Pension Fund Custodian Services To Lancashire County Council

Notice Description

This procurement is to establish a single provider contract agreement for custodian services to LCPF (Lancashire County Pension Fund.) LCPF is currently looking to appoint a Global Custodian to provide a number of services such as, but not limited to: Safekeeping of assets, trade settlements, tax reclaims, cash management, investment accounting etc. Current annual value of contract estimated at PS250,000 per annum but total contract value estimated to be between PS900,000 and PS2,100,000 over the enire contract period (including possible extensions). Additional information: Please note: The contract end-date is scheduled for 31st March 2021, with an option to extend for a further three years maximum. The estimated contract value range is between PS900,000 and PS2,100,000. Additional contact email: contractscorporate@lancashire.gov.uk

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-88ee40b7-1ce0-4301-abd7-6961f656f0cc
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/898b095b-88f7-487a-b467-f13438e641d3
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

75 - Administration, defence and social security services

CPV Codes

66520000 - Pension services

75320000 - Government employee pension schemes

Notice Value(s)

Tender Value
£1,500,000 £1M-£10M
Lots Value
Not specified
Awards Value
£1,500,000 £1M-£10M
Contracts Value
Not specified

Notice Dates

Publication Date
12 Apr 20187 years ago
Submission Deadline
26 Jan 2018Expired
Future Notice Date
Not specified
Award Date
8 Apr 20187 years ago
Contract Period
15 Apr 2018 - 15 Apr 2021 3-4 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
LANCASHIRE COUNTY 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
PRESTON
Postcode
PR1 8XJ
Post Town
Preston
Country
England
Major Region (ITL 1)
TLD North West (England)
Basic Region (ITL 2)
TLD4 Lancashire
Small Region (ITL 3)
TLD45 Mid Lancashire
Delivery Location
TLD North West (England)
Local Authority
Preston
Electoral Ward
City Centre
Westminster Constituency
Preston

Supplier Information

Number of Suppliers
1
Supplier Name

THE NORTHERN TRUST

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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