Tender

Sole Trustee for the University of Bristol Pension and Assurance Scheme

UNIVERSITY OF BRISTOL

This public procurement record has 1 release in its history.

Tender

22 Jul 2021 at 07:09

Tender Notice
Summary of the contracting process

The University of Bristol is currently conducting a tender process for the role of Sole Corporate Trustee Provider for its Pension and Assurance Scheme. This competitive procurement falls under the services category, specifically for trust services, with a total contract value of £420,000. The tender was published on 22nd July 2021 and is set to close on 23rd August 2021. The contract period will begin on 1st March 2022, potentially lasting up to 12 years. The University aims to appoint a provider who can enhance governance and ensure compliance while meeting the Scheme's financial needs.

This tender presents a significant opportunity for businesses specialising in trustee services, particularly those with the capability to deliver strategic governance and investment management. Small and medium-sized enterprises (SMEs) that prioritise member interests and have a deep understanding of corporate finance functions will be well placed to submit competitive proposals. Engaging in this tender could provide a lucrative avenue for growth, as the selected provider will play a critical role in safeguarding the interests of the Scheme's members and the University.

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Notice Information

Notice Title

Sole Trustee for the University of Bristol Pension and Assurance Scheme

Notice Description

The University's is seeking to appoint a Sole Corporate Trustee Provider who adds value to the governance of the Scheme and its objectives, in the interests of both the Scheme's members and the University, as principal employer. The Sole Corporate Trustee Provider must protect members' interests, safeguard and strategically manage the investment of Scheme assets (with the Fiduciary Manager), monitor, manage, mitigate or eliminate risks and ensure the short, medium and longer-term funding needs of the Scheme are met. Beyond this, the Sole Corporate Trustee Provider will take the initiative and develop and implement a strategy that seeks to deliver the Scheme's long-term funding objective within or before expiry of the stated timeframe. In so doing it will remain flexible and adaptable and will seek to identify innovative solutions to drive efficiency to meet the objective more cost effectively or ahead of time or to further mitigate or eliminate any risk to the Scheme, its members and the university. Throughout its tenure, the Sole Corporate Trustee Provider must ensure that the Scheme remains fully compliant with the legal and regulatory environment and the Scheme's constitution and that it maintains an effective system of governance. At all times the Sole Corporate Trustee Provider will be mindful of the need to provide a cost effective, proportionate, transparent and high-quality service to the Scheme and the University, as principal employer. The Sole Corporate Trustee Provider will be expected to operate as Sole Corporate Trustee in line with the values which have historically applied to UBPAS trusteeship, these being; I. to treat member interests and fairness as a very high priority; and II. to gain an in depth understanding of the covenant, the UoB business model and thereby interact effectively with the University finance function. The initial contract period will be for 6 years which may be extended to a maximum total period of 12 years. Additional information: Link to eSourcing Portal https://tenders.bris.ac.uk

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-a5c9ceed-86cb-4477-91e8-7def1809dde1
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/f53fb6da-4118-4a76-89fd-00d22c6a9964
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Competitive procedure with negotiation (above threshold)
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66161000 - Trust services

Notice Value(s)

Tender Value
£420,000 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
22 Jul 20214 years ago
Submission Deadline
23 Aug 2021Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
1 Mar 2022 - 28 Feb 2034 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
UNIVERSITY OF BRISTOL
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 5DS
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
TLK South West (England)
Local Authority
Bristol, City of
Electoral Ward
Central
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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