Notice Information
Notice Title
Pension Administration Services: Teachers' Pension Scheme (TPS)
Notice Description
The purpose of this Notice is to Notify of the outcome of the procurement for the provision of a new administration service to ensure the successful continuation of delivery of the Teachers' Pension Scheme.
Lot Information
Lot 1
The key requirement is to administer the Teachers' Pension Scheme (TPS) in accordance with the statutory regulations that govern the scheme. Those regulations are currently the Teachers' Pensions Regulations 2010 and the Teachers' Pension Scheme Regulations 2014 'the Regulations' as amended. The administrator will be required to work with the Department to ensure the regulations remain up to date and appropriate and will need to adapt the administration to ensure it remains compliant with and supportive of any changes introduced via regulatory change or case law; such as the McCloud/Sargeant judgment in respect of 2015 transitional arrangements. Administration of the Scheme must also comply with all other legislative requirements that have applied, apply, or will apply to the TPS. It is essential therefore that the contractor is proactive in monitoring, analysing, and adapting to new legislative requirements, ensuring the Scheme continues to adapt appropriately. The vision for the TPS is 'to ensure that the TPS offers an attractive, clear and cost-effective contribution to the total reward package for teachers, and thus, that it plays a full part in recruiting and retaining an excellent teaching workforce.' To support the DfE the TPS administration will be accepted as the best administered UK public service pension scheme. Providing an effective, fully digital, personalised service to our members with our partners at the centre of the administration design The TPS is a statutory, unfunded, defined benefit occupational pension scheme split into three distinct sections: * the Normal Pension Age (NPA) 60 section * the NPA 65 section (note: both these sections provide benefits based on final salary and length of service) * the 2015 section provides benefits based on career average earnings (CARE) and has a normal pension age equal to state pension age. Additional information: The Value of the Contract Excluding the optional up to 5 years extension options is: PS173,951,390.15
Options: Extension options 1+1+1+1+1
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-h6vhtk-02d7af
- Publication Source
- Find A Tender Service
- Latest Notice
- https://www.find-tender.service.gov.uk/Notice/017960-2023
- 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
- Competitive dialogue
- Tender Suitability
- Not specified
- Awardee Scale
- Large
Common Procurement Vocabulary (CPV)
- CPV Divisions
48 - Software package and information systems
66 - Financial and insurance services
72 - IT services: consulting, software development, Internet and support
75 - Administration, defence and social security services
79 - Business services: law, marketing, consulting, recruitment, printing and security
-
- CPV Codes
48000000 - Software package and information systems
48812000 - Financial information systems
66000000 - Financial and insurance services
66520000 - Pension services
66523100 - Pension fund administration services
72000000 - IT services: consulting, software development, Internet and support
72212440 - Financial analysis and accounting software development services
75100000 - Administration services
79000000 - Business services: law, marketing, consulting, recruitment, printing and security
79200000 - Accounting, auditing and fiscal services
79500000 - Office-support services
79512000 - Call centre
79571000 - Mailing services
Notice Value(s)
- Tender Value
- £185,000,000 £100M-£1B
- Lots Value
- Not specified
- Awards Value
- Not specified
- Contracts Value
- £233,866,286 £100M-£1B
Notice Dates
- Publication Date
- 23 Jun 20233 years ago
- Submission Deadline
- 12 Sep 2021Expired
- Future Notice Date
- Not specified
- Award Date
- 28 May 20233 years ago
- Contract Period
- Not specified - Not specified
- Recurrence
- 2035
Notice Status
- Tender Status
- Complete
- Lots Status
- Cancelled
- Awards Status
- Active
- Contracts Status
- Active
Buyer & Supplier
Contracting Authority (Buyer)
- Main Buyer
- Department for Education
- Contact Name
- Available with D3 Tenders Premium →
- Contact Email
- Available with D3 Tenders Premium →
- Contact Phone
- Available with D3 Tenders Premium →
Buyer Location
- Locality
- LONDON
- Postcode
- SW1P 3BT
- Postcode Area
- South West London
- Country
- England
-
- Major Region (ITL 1)
- TLI London
- Basic Region (ITL 2)
- TLI3 Inner London - West
- Small Region (ITL 3)
- TLI35 Westminster and City of London
- Delivery Location
- Not specified
-
- Local Authority
- Westminster
- Electoral Ward
- St James's
- Westminster Constituency
- Cities of London and Westminster
Further Information
Open Contracting Data Standard (OCDS)
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.