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Sole Trustee for the UoB Pension and Assurance Scheme

University of Bristol

This public procurement record has 1 release in its history.

Tender

21 Jul 2021 at 22:45

Tender Notice
Summary of the contracting process

The University of Bristol is actively seeking a Sole Trustee for its Pension and Assurance Scheme, with a total estimated value of £1,000,000 over a contract duration of up to 12 years. This tender, classified under trust services in the services category, is currently in the planning stage with submission deadlines set for 23rd August 2021. Bids will be accepted electronically and in writing for an initial six-year contract that has potential extensions. The services are to be delivered in Bristol, UK, with the selection procedure being competitive with negotiation, and the University aiming to appoint between four and six candidates for the next phase of the process.

This opportunity presents a significant growth avenue for businesses specialising in pension fund management, trust and custody services, and pension fund consultancy. Companies that can demonstrate expertise in governance, risk management, and compliance with legal regulations would be particularly well-suited to compete for this contract. The emphasis on delivering a cost-effective, high-quality service aligned with the University values also invites participation from firms that prioritise member interests and have innovative solutions to enhance governance and funding strategies.

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Notice Information

Notice Title

Sole Trustee for the UoB Pension and Assurance Scheme

Notice Description

The University of Bristol is seeking to procure independent professional Sole Trustee Services for the University of Bristol Pension & Assurance Scheme.

Lot Information

Lot 1

The University's is seeking to appoint a Sole Corporate Trustee Provider who adds value to the governance of the Scheme and its objectives, in the interests of both the Scheme's members and the University, as principal employer. The Sole Corporate Trustee Provider must protect members' interests, safeguard and strategically manage the investment of Scheme assets (with the Fiduciary Manager), monitor, manage, mitigate or eliminate risks and ensure the short, medium and longer-term funding needs of the Scheme are met. Beyond this, the Sole Corporate Trustee Provider will take the initiative and develop and implement a strategy that seeks to deliver the Scheme's long-term funding objective within or before expiry of the stated timeframe. In so doing it will remain flexible and adaptable and will seek to identify innovative solutions to drive efficiency to meet the objective more cost effectively or ahead of time or to further mitigate or eliminate any risk to the Scheme, its members and the university. Throughout its tenure, the Sole Corporate Trustee Provider must ensure that the Scheme remains fully compliant with the legal and regulatory environment and the Scheme's constitution and that it maintains an effective system of governance. At all times the Sole Corporate Trustee Provider will be mindful of the need to provide a cost effective, proportionate, transparent and high-quality service to the Scheme and the University, as principal employer. The Sole Corporate Trustee Provider will be expected to operate as Sole Corporate Trustee in line with the values which have historically applied to UBPAS trusteeship, these being; I. to treat member interests and fairness as a very high priority; and II. to gain an in depth understanding of the covenant, the UoB business model and thereby interact effectively with the University finance function Additional information: The estimated total value quoted in II.1.5 is estimated over 12 years.

Options: The initial contract period will be for 6 years which may be extended to a maximum total period of 12 years.

Renewal: The intention is to re-procure the requirement before expiry of the contract being tendered.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-02cafa
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/017292-2021
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Competitive procedure with negotiation
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66141000 - Pension fund management services

66160000 - Trust and custody services

66161000 - Trust services

66162000 - Custody services

66523000 - Pension fund consultancy services

66523100 - Pension fund administration services

Notice Value(s)

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

Notice Dates

Publication Date
21 Jul 20215 years ago
Submission Deadline
23 Aug 2021Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Active
Lots Status
Active
Awards Status
Not Specified
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
BS1 5DS
Postcode Area
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
TLK11 Bristol, City of
Local Authority
Bristol, City of
Electoral Ward
Central
Westminster Constituency
Bristol Central

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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