Award

Pension Administrator: Royal Mail Statutory Pension Scheme

CROWN COMMERCIAL SERVICE

This public procurement record has 2 releases in its history.

AwardUpdate

26 Oct 2017 at 10:38

Award Notice
Award

24 Oct 2017 at 14:24

Award Notice
Summary of the contracting process

The Crown Commercial Service is procuring pension administration services for the Royal Mail Statutory Pension Scheme (RMSPS), which serves approximately 402,000 deferred members and pensioners, making it the sixth largest public sector pension scheme in the UK. This procurement, classified under the CPV code for pension fund administration services, is at the Award stage, following a selective procurement method with competitive negotiation. The contract, valued at £31 million, commenced on 30th September 2017 and will remain effective until 30th April 2025, with the tender period having concluded on 14th December 2016.

This contract presents significant opportunities for businesses specialising in pension administration services, particularly those equipped to handle both accounting and member communication. Ideal candidates would include SMEs that offer innovative solutions in member interactions, payroll services, and reporting capabilities. Given the complexity and scale of the RMSPS, firms with experience in managing large pension schemes or those capable of collaboration with existing administrators, like Royal Mail Group Limited, may find this tender very applicable for growth and expansion.

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Notice Information

Notice Title

Pension Administrator: Royal Mail Statutory Pension Scheme

Notice Description

Procurement of a supplier of pension administration services for Royal Mail Statutory Pension Scheme(RMSPS). This scheme is managed by the Authority. The RMSPS transferred to the public sector in April 2012 and the former contract expired in March 2017. The Authority sought innovative proposals to this significant pension administration services opportunity. This procurement is solely for the pension administration services to the RMSPS. The successful pension administrator will work with Royal Mail Pension Plan's (RMPP) pension administrator, Royal Mail Group Limited (RMG), with regard to those members who are beneficiaries in both RMSPS and RMPP. RMSPS is currently the 6th largest public sector pension scheme in the United Kingdom. The RMSPS has approximately 402 000 deferred members and pensioners. Approximately 116 000 of these are also members of the RMPP. The scheme has no active members so there are no accruing costs or contributions. Additional information: Pension Administration services against the following two membership profiles:(1) RMSPS scheme members with no benefits in the RMPP (which amounts to approximately 286 000 members comprised of116 000 deferred members and 170 000 pensioners) and (2) RMSPS scheme members with benefits in the RMPP (which amounts to approximately 116 000 members comprised of 97 000 deferred members and 19000 pensioners). The pension administration services available include the following:- accounting services, administration services, interactions with members, member communications (including managing and operating a helpline, issuing benefits statements, annual pension increase letters,printing services and also scheme leaflets), pension payroll services (bulk and individual payroll services) and reporting. Membership profile 2 also includes the requirement to work with RMPP's pension administration services provider with regard to those members who are beneficiaries in both the RMSPS and RMPP.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-8c1999bd-d506-4ea1-bb46-2011359d73b8
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/d067877d-b6c6-41b4-b5e3-d0d59c7d22a2
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Competitive procedure with negotiation (above threshold)
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66523100 - Pension fund administration services

Notice Value(s)

Tender Value
£31,000,000 £10M-£100M
Lots Value
Not specified
Awards Value
£31,000,000 £10M-£100M
Contracts Value
Not specified

Notice Dates

Publication Date
26 Oct 20178 years ago
Submission Deadline
14 Dec 2016Expired
Future Notice Date
Not specified
Award Date
28 Sep 20178 years ago
Contract Period
29 Sep 2017 - 30 Apr 2025 Over 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
CROWN COMMERCIAL SERVICE
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
SW1A 2HQ
Post Town
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
TLI London
Local Authority
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

CAPITA EMPLOYEE BENEFITS

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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