Tender

Multi Provider Framework Agreement for the Provision of Global Custody Services Primarily in Support of the Local Government Pension Scheme

NORFOLK COUNTY COUNCIL

This public procurement record has 1 release in its history.

Tender

28 Sep 2020 at 07:44

Tender Notice
Summary of the contracting process

The Norfolk County Council is currently seeking to establish a Multi Provider Framework Agreement for Global Custody Services, primarily supporting the Local Government Pension Scheme. This procurement falls under the services category, specifically in trust and custody services, with an estimated value of £50 million. The tender process is classified as an open procedure and will conclude on 9 November 2020. The framework agreement will be effective for four years, and any resultant contracts can extend up to ten years with a maximum expiry date of February 2035. This procurement is being conducted in Norwich, England, and participation requires registration on the Council's eProcurement system.

This tender presents substantial opportunities for financial services firms specialising in custody solutions, particularly those with experience in public sector pension schemes. Businesses with an established track record in trust and custody services will be well-positioned to participate and compete effectively, given the framework's broad eligibility criteria, which allow access to various governmental and public sector bodies. By securing a position on this framework, successful bidders can expand their market presence and potentially enter new long-term contracts across multiple local government authorities.

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Notice Information

Notice Title

Multi Provider Framework Agreement for the Provision of Global Custody Services Primarily in Support of the Local Government Pension Scheme

Notice Description

The Norfolk Pension Fund, administered by Norfolk County Council, is seeking to establish a multi-provider framework agreement for the provision of Global Custody Services primarily in support of the local government pension scheme on its own behalf and on behalf of Cambridgeshire County Council, The City of Edinburgh Council, Essex County Council, Northamptonshire County Council, Hampshire County Council, Hertfordshire County Council, Suffolk County Council and Wolverhampton City Council. The founder authorities named above wish to establish a multi-provider framework agreement for the provision of Global Custody Services to be available to all LGPS administering authorities and other bodies as defined in this OJEU contract notice, to provide national access to high-quality efficient and effective services at the best possible price. The procurement involves the establishment of a framework agreement with several operators. The framework agreement will be in place for 4 years. Contracts awarded under the framework may have a maximum total duration of 10 years. No contract awarded from the framework will be permitted to extend beyond February 2035. Additional information: This procurement will be managed electronically via the Council's eProcurement system. To participate in this procurement, applicants must first be registered on the system at https://in-tendhost.co.uk/norfolkcc. Full instructions for registration and use of the system can be found at https://in-tendhost.co.uk/norfolkcc/aspx/BuyerProfiles. Once registered you will be able to see the procurement project under the 'tenders' section and 'express an interest' to view the documentation. If you encounter any difficulties whilst using the system you can contact the InTend support team by phoning +44 8442728810 or emailing mail to: support@in-tend.co.uk?subject=TED (if you are already registered there is no need to re-register). The framework agreement is being let by Norfolk County Council as the contracting authority. Norfolk County Council is working jointly with the following authorities, who have expressed an intention to procure services under the framework (including itself): - Cambridgeshire County Council (as administering authority of the Cambridgeshire Pension Fund) - City of Edinburgh (as Administering Authority of the Lothian Pension Fund) - Essex County Council (as administering authority of the Essex Pension Fund) - Northamptonshire County Council (as administering authority of the Northamptonshire Pension Fund) - Hampshire County Council - Hertfordshire County Council (as administering authority of the Hertfordshire Pension Fund) - Suffolk County Council (as administering authority of the Suffolk Pension Fund) - Wolverhampton City Council (as administering authority of the West Midlands Pension Fund) In addition to those listed above, the framework may also be used by: - any LGPS administering authorities as defined in the Local Government Pension Scheme Regulations 2013 (SI 2013/2356) (as amended) including the firefighters' pension scheme and police pension schemes and any of their participating employing authorities, or in relation to the LGPS in Scotland, any administering authority and any of their Scheme employers as defined in the Local Government Pension Scheme (Scotland) Regulations 2018 (SSI 2018/141) (as amended); - NILGOSC in Northern Ireland and employing authorities as defined in the Local Government Pension Scheme Regulations (Northern Ireland) 2014 (SRNI 2014/188) (as amended); - the Board of the Pension Protection Fund (http://www.pensionprotectionfund.org.uk); - any other administering authority or organisation of a public sector pension scheme or any public sector body or that requires pension related services; - any common asset pool or collective investment vehicle established by or on behalf of an administering authority or group of administering authorities; or - any bodies, organisations or companies established by them for the purpose of operating on a collective basis.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-cd8c27c6-4659-4a15-ae5c-787bc2053fed
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/750a4323-b36f-453d-b165-7bbfa73a11ff
Current Stage
Tender
All Stages
Tender

Procurement Classification

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

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66160000 - Trust and custody services

Notice Value(s)

Tender Value
£50,000,000 £10M-£100M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
28 Sep 20205 years ago
Submission Deadline
9 Nov 2020Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
9 Feb 2021 - 8 Feb 2025 4-5 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
NORFOLK 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
NORWICH
Postcode
NR1 2DH
Post Town
Norwich
Country
England
Major Region (ITL 1)
TLH East (England)
Basic Region (ITL 2)
TLH5 Norfolk
Small Region (ITL 3)
TLH51 Norwich and East Norfolk
Delivery Location
Not specified
Local Authority
Norwich
Electoral Ward
Lakenham
Westminster Constituency
Norwich South

Further Information

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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