Award

Actuarial, Administration and Employer advice

GENERAL MEDICAL COUNCIL (GMC)

This public procurement record has 1 release in its history.

Award

20 Jan 2021 at 17:08

Summary of the contracting process

The General Medical Council (GMC) has initiated a procurement process for Actuarial, Administration, and Employer advice services. This open tender, identified as GMC1063, is aimed at securing high-quality service at a competitive price for the GMC Staff Superannuation Scheme. The procurement process is currently complete, with a contract awarded to Aon Hewitt Limited for a value of £3,500,000. The tender is part of the services industry, relevant to the UK region, and focused on ensuring that the Scheme maintains efficient service provision. The award of the contract was signed on 18 December 2020.

This procurement presents substantial opportunities for businesses involved in actuarial and administrative services, particularly those with experience in handling retirement schemes of similar scale. Companies specialising in pension fund management and investment services would benefit from this tender, as they can offer competitive bids to fulfil the requirements set by the GMC. Given the emphasis on delivering comprehensive services, bidders with a proven track record in providing these services can enhance their market presence and contribute to the GMC's mission of delivering high-quality support for its members.

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Notice Title

Actuarial, Administration and Employer advice

Notice Description

The Trustees of the GMC Staff Superannuation Scheme are undertaking a review of its service providers to ensure that it continues to receive a high quality service and value for money on behalf of the Employer and Scheme membership. Accordingly, the Trustees are inviting service providers to bid for the provision of: - Actuarial services - Administrative service - Employer Advice service. Potential service providers must have experience of working with similarly sized schemes and should be able to provide all three of the specified services.

Lot Information

Lot 1

The Trustees of the GMC Staff Superannuation Scheme are undertaking a review of its service providers to ensure that it continues to receive a high quality service and value for money on behalf of the Employer and Scheme membership. Accordingly, the Trustees are inviting service providers to bid for the provision of: - Actuarial services - Administrative service - Employer Advice service. Potential service providers must have experience of working with similarly sized schemes and should be able to provide all three of the specified services. Scheme Information The GMC Staff Superannuation Scheme is a contracted-out defined benefits occupational pension scheme. The principal employer is the General Medical Council. The Scheme closed to new members on 30 June 2013, and has now closed to future accrual from 31 March 2018, although a salary link for active members at this date has been retained. There are two category types and the benefit structure offers members the opportunity to receive a full pension or exchange part of their pension for a tax free cash sum at retirement. On 1 January 2020 the membership profile was as follows: Active members - 466 Deferred members - 680 Pensioner members - 217 As of 31 December 2019, the assets of the Scheme were approximately 256.4 million GBP and a triennial actuarial valuation is due on 31 December 2021.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-028bfd
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/001191-2021
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66131100 - Pension investment services

66141000 - Pension fund management services

66519600 - Actuarial services

66520000 - Pension services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£3,500,000 £1M-£10M

Notice Dates

Publication Date
20 Jan 20215 years ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
18 Dec 20205 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

Contracting Authority (Buyer)

Main Buyer
GENERAL MEDICAL COUNCIL (GMC)
Contact Name
Not specified
Contact Email
gmctenders@gmc-uk.org
Contact Phone
+44 1619236340

Buyer Location

Locality
MANCHESTER
Postcode
M3 3AW
Post Town
Manchester
Country
England

Major Region (ITL 1)
TLD North West (England)
Basic Region (ITL 2)
TLD3 Greater Manchester
Small Region (ITL 3)
TLD33 Manchester
Delivery Location
Not specified

Local Authority
Manchester
Electoral Ward
Deansgate
Westminster Constituency
Manchester Central

Supplier Information

Number of Suppliers
1
Supplier Name

AON HEWITT

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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