Award

Pensions Administration Services for the UoB Pension and Assurance Scheme

UNIVERSITY OF BRISTOL

This public procurement record has 2 releases in its history.

Award

17 Aug 2018 at 12:48

Award Notice
Tender

05 Sep 2017 at 07:10

Tender Notice
Summary of the contracting process

The University of Bristol is seeking Pensions Administration Services for its Pension and Assurance Scheme, with the aim of appointing a third party through a competitive tender process. The contract, valued at £922,778, is currently in the award stage following its conclusion on 3rd October 2017 and will commence on 1st October 2018, lasting for five years until 30th September 2023. The procurement method used is a competitive procedure with negotiation, and the services are classified under the CPV code 66523100, specifically for pension fund administration services. The delivery address for the services is in Bristol, South West England.

This procurement opportunity offers significant growth potential for businesses that specialise in pension administration and financial services. Companies with expertise in member record-keeping, regulatory compliance, and client reporting would be well-suited to compete for this contract. Additionally, service providers capable of managing complex client needs in the pension sector will find this opportunity particularly appealing, especially given the scheme's substantial asset base of approximately £300 million and a member base of over 4,800 individuals.

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Notice Information

Notice Title

Pensions Administration Services for the UoB Pension and Assurance Scheme

Notice Description

The Trustees of the University of Bristol Pension and Assurance Scheme have decided to appoint a third party to administer the scheme. The University of Bristol, which currently administers the scheme, has been instructed by the Trustees of the Scheme to run a tender process with the intention of identifying and awarding a contract to the most economically advantageous tender. The decision to award a contract to the highest scoring bidder was made by the Scheme's Trustees. At the date of the last annual report the scheme, which is closed to new members, had a total of 4 840members, (968 active members, 1 565 pensioners, 211 dependants and 2 096 deferred pensions held in the fund). The scheme has assets of approximately 300 000 000 GBP. Essential services to be provided include, but are not limited to: Member record keeping - includes benefit calculations and preparation of annual benefits statements; Dealing with member cases directly (e.g. transfers, retirements, queries); Client reporting (e.g. admin reports or real time information); Liaison with death benefit insurers; Pensioner Payroll; Treasury and accounting (including cash management and preparation of annual report and accounts); Interfacing with the University of Bristol's HR and Payroll system; Dealing with regulatory authorities; Attendance at Trustee meetings. Services of interest but not vital include: Online access for members and Trustees Possible ad hoc additional services include: Member Communication (e.g. production of an annual newsletter); Broking of group life insurance.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-c1a9dd2a-5521-4bc8-8b16-b68694cf22f7
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/dae84c29-1d2f-4694-bd43-402b7c6eebec
Current Stage
Award
All Stages
Tender, 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
Not specified
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
£750,000 £500K-£1M
Lots Value
Not specified
Awards Value
£922,778 £500K-£1M
Contracts Value
Not specified

Notice Dates

Publication Date
17 Aug 20187 years ago
Submission Deadline
3 Oct 2017Expired
Future Notice Date
Not specified
Award Date
8 Jul 20187 years ago
Contract Period
30 Sep 2018 - 30 Sep 2023 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
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
BS2 8BB
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

Supplier Information

Number of Suppliers
1
Supplier Name

BARNETT WADDINGHAM

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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