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Actuarial Services

East Riding of Yorkshire Council

This public procurement record has 3 releases in its history.

Award

28 Feb 2023 at 16:09

Award Notice
Award

10 May 2021 at 13:08

Award Notice
Tender

12 Jan 2021 at 17:56

Tender Notice
Summary of the contracting process

The East Riding of Yorkshire Council has completed a procurement process for Actuarial Services under Lot 1 of the National LGPS Framework. This involved a call for competition for Actuarial Services to the East Riding Pension Fund from 01 April 2023 to 31 March 2033. Hymans Robertson LLP has been awarded the contract.

This tender can create business growth opportunities for firms specialising in pension fund administration services. Businesses offering actuarial, benefits, and governance consultancy services are well-suited to compete. The procurement method used was a selective procedure with a competitive process involving a minimum standstill period for bidders.

How relevant is this notice?

Notice Information

Notice Title

Actuarial Services

Notice Description

This exercise was a call for competition under Lot 1 of the National LGPS Framework for Actuarial, Benefits and Governance Consultancy Services (Reference Number NCCT41941) for the procurement of Actuarial Services to the East Riding Pension Fund (ERPF) from 01 April 2023 to 31 March 2033.

Lot Information

Actuarial Services

This exercise was a call for competition under Lot 1 of the National LGPS Framework for Actuarial, Benefits and Governance Consultancy Services (Reference Number NCCT41941) for the procurement of Actuarial Services to the East Riding Pension Fund (ERPF) from 01 April 2023 to 31 March 2033.

Benefits Consultancy

Benefits Consultancy Services including but not limited to:Providing information and adviceWorking with stakeholdersReviewing processes, structures and policiesSupporting projects and provision of services

Governance Consultancy

Governance Consultancy Services including but not limited to:Providing information and adviceWorking with stakeholdersReviewing processes, structures and policiesSupporting projects and provision of services

Funding Risk Advisory Services

Funding Risk Advisory Services including but not limited to:Advice on the integration of investment and funding strategy (along with covenant if applicable) e.g. funding level, by employer type, cashflow profile etc. Asset/Liability modelling to support any recommendations, with potential changes to strategy and rationale.Advice, detailed covenant analysis and general support in assessing covenant risk and proactive engagement with employers in financial difficultiesAdvice on risk budgets (in terms of ultimate objectives e.g. contributions tolerance) and flexing these as funding levels evolve.Development of monitoring metrics and tools to track progress and keep stakeholders informed of progress against strategic objectives (mindful of risk parameters).Provision and/or interpretation of scenario-based analysis aligned to possible risks and their outcomes.Development of tools/frameworks to facilitate discussion with stakeholders on strategy change e.g. employer paths from entry to exit.Advice and support on policy development and principles for use of ancillary risk management tools.

Consultancy Services to Support Specialist Projects

Discrete pieces of specialist, pensions-related work including, but not limited to:LGPS asset management restructuring (asset pooling)Change managementProject managementRegulatory and best practice compliance reviews (including, but not limited to, compliance with MHCLG and The Pensions Regulator requirements)Data Quality, Validation Audits and improvement supportSupport for bulk exercises e.g. trivial commutation data cleansing, frozen refund tracingAVC Reviews and AdviceEmployer covenant analysis and funding policy implications where appropriatePensions taxation advice, including support on annual and lifetime allowance calculationsReviews and guidance on structures and their effectiveness

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-0289b8
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/005904-2023
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Restricted procedure
Tender Suitability
Not specified
Awardee Scale
Large, SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66520000 - Pension services

66523000 - Pension fund consultancy services

66523100 - Pension fund administration services

Notice Value(s)

Tender Value
£350,000,000 £100M-£1B
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£388,359,169 £100M-£1B

Notice Dates

Publication Date
28 Feb 20233 years ago
Submission Deadline
22 Feb 2021Expired
Future Notice Date
Not specified
Award Date
5 May 20215 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
East Riding of Yorkshire Council
Additional Buyers

(The Mayor and Burgesses of the) London Borough of Hackney

Environment Agency (as Administering Authority of the Environment Agency Pension fund)

Essex County Council (as Administering Authority of the Essex Pension Fund)

Flintshire County Council (as Administering Authority of the Clwyd Pension Fund)

Hampshire County Council (as Administering Authority of the Hampshire Pension Fund)

Lincolnshire County Council (as Administering Authority of the Lincolnshire County Council Pension Fund)

Middlesbrough Council (as Administering Authority for Teesside Pension Fund)

Norfolk County Council

Norfolk County Council (As administering authority for Norfolk Pension Fund)

Norfolk County Council(as administering authority for Norfolk Pension Fund)

South Yorkshire Pensions Authority

Suffolk County Council (As Administering Authority of the Suffolk Pension Fund)

Surrey County Council (as Administering Authority of the Surrey Pension Fund)

Tameside Metropolitan Borough Council (as Administering Authority of the Greater Manchester Pension Fund)

Wolverhampton City Council (as Administering Authority of the West Midlands Pension 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
BARNSLEY
Postcode
HU17 9BA
Postcode Area
Hull
Country
England
Major Region (ITL 1)
TLE Yorkshire and The Humber
Basic Region (ITL 2)
TLE1 East Yorkshire and Northern Lincolnshire
Small Region (ITL 3)
TLE12 East Riding of Yorkshire
Delivery Location
TLE12 East Riding of Yorkshire
Local Authority
East Riding of Yorkshire
Electoral Ward
St Mary's
Westminster Constituency
Beverley and Holderness

Supplier Information

Number of Suppliers
13
Supplier Names

Aon Solutions UK Ltd

BDO LLP

Barnet Waddingham LLP

Barnett Waddingham LLP

Deloitte LLP

Government Actuary’s Department

Hymans Robertson LLP

Mercer

Mercer Ltd

Muse Advisory Ltd

Paymaster (1836) Ltd t/a Equiniti

PricewaterhouseCoopers

PricewaterhouseCoopers LLP

Further Information

Open Contracting Data Standard (OCDS)

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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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