Award

Ask AI about this notice

Summarise, research or assess it with AI

View Markdown

Share this notice

Send this contract to a colleague

Professional Services Framework (Admin, Actuarial, and Consultancy) 2023

Pension Protection Fund

This public procurement record has 1 release in its history.

Award

27 Dec 2023 at 09:21

Award Notice
Summary of the contracting process

The Pension Protection Fund has awarded a contract for the "Professional Services Framework (Admin, Actuarial, and Consultancy) 2023". The procurement process involved specialist firms providing services in the insurance and pension sector. The tender, conducted as an open procedure, had a tender period ending on 26th July 2023 and a contract period lasting from 2nd December 2023 to 1st December 2025, with the potential for extensions. The award, valued at £50,000,000 GBP, was given to multiple suppliers within the industry category of services in London, United Kingdom.

This tender for professional services offers business growth opportunities for firms with expertise in administration, actuarial services, and pensions consultancy. Companies experienced in the insurance and pension industries, particularly those with specialist actuarial capabilities, are well-suited to compete for contracts under this framework agreement. The Procurement was carried out by the Pension Protection Fund, and the award has been granted to several large and small-to-medium-sized enterprises, creating potential for collaboration and growth within the industry sector.

How relevant is this notice?

Notice Information

Notice Title

Professional Services Framework (Admin, Actuarial, and Consultancy) 2023

Notice Description

The Board of the Pension Protection Fund has procured a Framework Agreement consisting of specialist firms to provide administration, actuarial, support and consultancy services. Firms have been appointed to either one or both Lots, distinguished by the type of work required under the Framework Agreement. - Lot 1 - Administration, Actuarial, Support & Pensions Consultancy Services - Lot 2 - Actuarial Consultancy Services Lot 1 is primarily for services to the Board where both administration and actuarial services and/or pensions consultancy may be required at the same time. Lot 2 is aimed at firms with specialist actuarial capabilities who have experience in either the pensions or insurance industries (where long-term risk modelling is also considered). The Framework Agreement has an initial term of two years, with the option of two one-year extensions. NEST may also choose to contract for services via a call-off from the Framework. The final value of the framework across the maximum term may fall within a wide range as it has been set up to be available for future call-offs for requirements that we may not currently be aware of. Additional information: See notice tender_356523/1227681 for opportunity notice

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-f7536d18-0d15-4e48-88f8-f69b4196c3ac
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/c55ed260-1fab-4c5f-a0e6-fd710428aedd
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
SME
Awardee Scale
Large, SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66500000 - Insurance and pension services

Notice Value(s)

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

Notice Dates

Publication Date
27 Dec 20232 years ago
Submission Deadline
26 Jul 2023Expired
Future Notice Date
Not specified
Award Date
2 Dec 20232 years ago
Contract Period
2 Dec 2023 - 1 Dec 2025 2-3 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
Pension Protection Fund
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
CROYDON
Postcode
CR0 2NA
Postcode Area
Croydon
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI6 Outer London - South
Small Region (ITL 3)
TLI62 Croydon
Delivery Location
TLI London
Local Authority
Croydon
Electoral Ward
Fairfield
Westminster Constituency
Croydon West

Supplier Information

Number of Suppliers
14
Supplier Names

Broadstone Pensions Limited

Barnett Waddingham LLP

Capita Pension Solutions Limited

Ernst & Young LLP (EY)

First Actuarial LLP

Government Actuary's Department

Grant Thornton UK LLP

Hymans Robertson LLP

Isio Group Limited

KPMG LLP

Lane Clark & Peacock LLP

PricewaterhouseCoopers LLP

Quantum Actuarial LLP

Spence & Partners Limited

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

JSON Markdown

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.

Loading OCDS record...