Award

Pension Administration Services: Teachers' Pension Scheme (TPS)

DEPARTMENT FOR EDUCATION

This public procurement record has 3 releases in its history.

Award

23 Jun 2023 at 12:31

TenderUpdate

14 Sep 2021 at 21:45

Tender

20 Aug 2021 at 21:45

Summary of the contracting process

The Department for Education in the UK has completed the procurement process for the provision of Pension Administration Services for the Teachers’ Pension Scheme (TPS). The contract, worth £173,951,390.15, was awarded to Tata Consultancy Services Limited. The services fall under the CPV classification of Pension fund administration services. The procurement method used was Competitive dialogue, and the contract was awarded on 28th May 2023.

This tender presents an opportunity for businesses in the financial and insurance services sector, IT consulting, administration services, and other related fields to engage in providing services for the Teachers’ Pension Scheme. The Department for Education aims to ensure the TPS administration remains the best in the UK, offering a fully digital and personalised service to its members. The procurement process emphasised flexibility, allowing different market players to bid optimally, including Consortium or Prime arrangements, with extension options available for up to 5 years.

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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

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 20232 years ago
Submission Deadline
12 Sep 2021Expired
Future Notice Date
Not specified
Award Date
27 May 20232 years ago
Contract Period
Not specified - Not specified
Recurrence
2035

Notice Status

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

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
Post Town
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

Supplier Information

Number of Suppliers
1
Supplier Name

TATA CONSULTANCY SERVICES

Open Contracting Data Standard (OCDS)

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