Award

Wales Pension Partnership Regulator of Operator Services

CARMARTHENSHIRE COUNTY COUNCIL

This public procurement record has 3 releases in its history.

Award

27 Sep 2024 at 13:36

Tender

16 Oct 2023 at 15:58

Planning

17 Jan 2023 at 16:33

Summary of the contracting process

The Wales Pension Partnership (WPP) is in the process of appointing a regulated third-party operator to provide operator services for their ACS sub-fund requirements. The contracting authority, Carmarthenshire County Council, on behalf of the eight Constituent Authorities in Wales, began the open procurement procedure. The tender falls under the industry category of "Pension investment services" and its details indicate an active tender stage with a submission deadline of 20th November 2023. This contract is valued at £14,000,000 and the new contract is set to start around six months prior to the expiry of the current contract in December 2024 to ensure a smooth transition. Businesses must adhere to the selection criteria outlined in the procurement documents.

This tender presents significant opportunities for firms specialising in pension investment, pension fund consultancy, and pension management services. Companies capable of delivering comprehensive pension services, particularly in collaboration with other consortia, will find this contract especially lucrative. The terms include an initial contract period of five years and three months, with the possibility of extending up to two additional years. Given that WPP serves all eight local government pension scheme funds across Wales, the successful bidder will benefit from a long-term relationship with a major public sector client, thereby contributing to substantial business growth and stability.

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Notice Title

Wales Pension Partnership Regulator of Operator Services

Notice Description

THIS IS A CONTRACT AWARD NOTICE - NOT A CURRENT OPPORTUNITY The Wales Pension Partnership ("WPP") was established in 2017. The WPP is a collaboration of the eight LGPS funds ("Constituent Authorities")* covering the whole of Wales and is one of eight national LGPS pools. The eight Constituent Authorities had an existing contract with Waystone Management (UK) Limited to provide regulated third party operator services for WPP. The current contract is due to expire in December 2024. The contracting authority (Carmarthenshire County Council), on behalf of each of the Constituent Authorities, conducted a procurement process to appoint a regulated third party operator for WPP's ACS sub fund requirements following expiry of that existing contract. *The eight Constituent Authorities are Carmarthenshire County Council (Host Authority), City and County of Swansea Council, City of Cardiff Council, Flintshire County Council, Cyngor Gwynedd, Powys County Council, Rhondda Cynon Taf County Borough Council and Torfaen County Borough Council. For further information in respect of WPP please see the following link - https://www.walespensionpartnership.org/ Further information can be found in the Procurement Documents at https://etenderwales.bravosolution.co.uk/

Lot Information

Lot 1

The Wales Pension Partnership ("WPP") was established in 2017. The WPP is a collaboration of the eight LGPS funds ("Constituent Authorities")* covering the whole of Wales and is one of eight national LGPS pools. The eight Constituent Authorities have an existing contract with Waystone Management (UK) Limited to provide regulated third party operator services for WPP. The current contract is due to expire in December 2024. The contracting authority (Carmarthenshire County Council), on behalf of each of the Constituent Authorities, conducted a procurement process to appoint a regulated third party operator for WPP's ACS sub fund requirements following expiry of that existing contract. *The eight constituent authorities are Carmarthenshire County Council (Host Authority), City and County of Swansea Council, City of Cardiff Council, Flintshire County Council, Cyngor Gwynedd, Powys County Council, Rhondda Cynon Taf County Borough Council and Torfaen County Borough Council. For further information in respect of WPP please see the following link - https://www.walespensionpartnership.org/ Further information can be found in the Procurement Documents at https://etenderwales.bravosolution.co.uk/ Additional information: For further details on the Wales Pension Partnership please visit the following website: https://www.walespensionpartnership.org/

Renewal: The term of the Operator Agreement is for an initial term of five years and three months, followed by an option to extend for up to two further years. At any time prior to the end of the initial five year and three month term WPP may elect to extend the term of the Operator Agreement by up to two years.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-039849
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/031017-2024
Current Stage
Award
All Stages
Planning, Tender, Award

Procurement Classification

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

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66131100 - Pension investment services

66141000 - Pension fund management services

66520000 - Pension services

66522000 - Group pension services

66523000 - Pension fund consultancy services

Notice Value(s)

Tender Value
£14,000,000 £10M-£100M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£14,000,000 £10M-£100M

Notice Dates

Publication Date
27 Sep 20241 years ago
Submission Deadline
20 Nov 2023Expired
Future Notice Date
31 Aug 2023Expired
Award Date
21 Apr 20241 years ago
Contract Period
Not specified - Not specified
Recurrence
12 months before contract end date

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
CARMARTHENSHIRE COUNTY COUNCIL
Contact Name
Not specified
Contact Email
walespensionpartnership@carmarthenshire.gov.uk
Contact Phone
+44 1267234567

Buyer Location

Locality
CARMARTHEN
Postcode
SA31 1JP
Post Town
Swansea
Country
Wales

Major Region (ITL 1)
TLL Wales
Basic Region (ITL 2)
TLL4 Mid and South West Wales
Small Region (ITL 3)
TLL42 South West Wales
Delivery Location
TLL14 South West Wales

Local Authority
Carmarthenshire
Electoral Ward
Carmarthen Town North and South
Westminster Constituency
Caerfyrddin

Supplier Information

Number of Suppliers
1
Supplier Name

WAYSTONE

Open Contracting Data Standard (OCDS)

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