Award

Actuarial Services (IAS 19 Disclosure)

STUDENT LOANS COMPANY LIMITED

This public procurement record has 1 release in its history.

Award

05 Mar 2024 at 15:40

Award Notice
Summary of the contracting process

The procurement process for this tender was recently completed by the STUDENT LOANS COMPANY LIMITED. The tender title is "Actuarial Services (IAS 19 Disclosure)" in the services industry category. The procurement method used was a direct Single tender action (below threshold) with a contract value of £60,500 in GBP. The procurement stage was in the award phase, with a tender period end date of 7th February 2024 and a contract period starting on 29th February 2024 and ending on 28th February 2027. The procurement is located in Scotland, United Kingdom.

This tender award by the STUDENT LOANS COMPANY LIMITED to Mercer presents business growth opportunities for companies providing actuarial services. Given the direct procurement method used and the specific nature of the services required, specialised firms in the actuarial sector would be well-suited to compete. The contract value and duration provide a stable revenue stream for the selected supplier, Mercer, highlighting the potential for sustainable business growth through meeting the actuarial needs of the STUDENT LOANS COMPANY LIMITED over the contract period.

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Notice Information

Notice Title

Actuarial Services (IAS 19 Disclosure)

Notice Description

We require an authorised Supplier to provide us with an actuarial valuation of the pension scheme as at 31 March 2024 in line with International Accounting Standard 19. This is a requirement for the Annual Report & Accounts (ARA). Mercer are the SLC pension scheme administrators. The scheme is closed to new entrants and SLC transferred active members into the Civil Service Pension Scheme in 2020. Deferred members were due to transfer in October 2023 but this has been paused due to a legal case impacting UK pension schemes. Until this is resolved, there is a requirement for Mercer to provide this information for the ARA.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-bc7a4b0d-dbe7-4b34-b52a-c69740fc1aa9
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/688466b5-4e21-42b5-8881-c4aade833042
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Direct
Procurement Method Details
Single tender action (below threshold)
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66519600 - Actuarial services

Notice Value(s)

Tender Value
£60,500 Under £100K
Lots Value
Not specified
Awards Value
£60,500 Under £100K
Contracts Value
Not specified

Notice Dates

Publication Date
5 Mar 20241 years ago
Submission Deadline
7 Feb 2024Expired
Future Notice Date
Not specified
Award Date
28 Feb 20241 years ago
Contract Period
29 Feb 2024 - 28 Feb 2027 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
STUDENT LOANS COMPANY LIMITED
Contact Name
susan butcher
Contact Email
susan_butcher@slc.co.uk
Contact Phone
01412433482 ext 33482

Buyer Location

Locality
DARLINGTON
Postcode
G2 7JD
Post Town
Glasgow
Country
Scotland
Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM3 West Central Scotland
Small Region (ITL 3)
TLM32 Glasgow City
Delivery Location
TLM Scotland
Local Authority
Glasgow City
Electoral Ward
Anderston/City/Yorkhill
Westminster Constituency
Glasgow North

Supplier Information

Number of Suppliers
1
Supplier Name

MERCER

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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