Award

Salary Sacrifice Cost Framework for additional voluntary contributions (SSAVCs)

PORTSMOUTH CITY COUNCIL

This public procurement record has 2 releases in its history.

Award

13 Nov 2023 at 12:05

Tender

01 Jun 2023 at 17:11

Summary of the contracting process

The Portsmouth City Council has awarded a contract for the provision of a Salary Sacrifice Cost Framework for additional voluntary contributions (SSAVCs). The council acts as a Central Purchasing Body under regulation 37 PCR 2015, allowing access to other UK Public Sector Organisations. The contract is valued at £35,640,000 and offers services in the insurance and pension sector. The tender was in the ‘Award’ stage as of 13th November 2023.

This procurement process presents an opportunity for businesses in the insurance and pension services industry to compete for a framework agreement. Companies offering advice, payroll reporting, employee engagement, and financial wellbeing services may find this tender well-suited for their expertise. The contract with Portsmouth City Council aims to facilitate additional voluntary contributions for public sector bodies in the United Kingdom, creating a potential avenue for business growth and collaboration.

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Notice Title

Salary Sacrifice Cost Framework for additional voluntary contributions (SSAVCs)

Notice Description

Portsmouth City Council ('the council') has established a single supplier Framework agreement for the provision of a Salary Sacrifice Additional Voluntary Contribution (AVC) scheme. The Framework will also be open for access by other UK Public Sector Organisations which include UK Public Sector Bodies, including Central Government, Local Authorities, Health, Police, Fire and Rescue, Education and Devolved Administrations. Portsmouth City Council introduced the first Salary Sacrifice Additional Voluntary Contribution (SSAVC) in the UK and currently delivers the service in house. The Authority are now establishing the framework to enable the service to be delivered by an external provider. SSAVCs are currently available to employers with Local Government Pension Scheme (LGPS) and NHS Pension Scheme members (this may be expanded to other organisations at a later date), and it is an employer's decision whether they implement a scheme. The key advantages are that SSAVC members can achieve significant growth figures on their savings whilst at the same time the employer also makes savings. A full list of Authorities able to access the agreement was published in appendix 1 of the tender documents. In setting up the Framework, the Council does not guarantee that any call-offs contracts will be awarded once the Framework is procured, that no form of exclusivity will be created and provides no guarantee of volume of work from either itself of other contracting authorities.

Lot Information

Lot 1

The following is a summary of the requirements, for all information and full details please refer to the Specification given in Schedule 1 of the Framework Terms. The Supplier shall provide a service that includes but is not limited to the following: * Advice and guidance for Salary Sacrifice Additional Voluntary Contributions; * Employee engagement and communication across the workforce; * Integrated payroll reporting; * Automated application and amendment processing; * Seamless processes with investment providers; * Onsite employee presentations; * Interactive employee Webinars promoting all aspects of Financial Wellbeing; * Individual one-to-one sessions for employees to receive guidance from experts; * Provision of a web chat service and telephone helplines to support employees; * Calculators to provide employees with retirement impacts and scenarios * Full compliance with HMRC guidelines and Employment law; * Information Security and Audit Trails Optional Services The following "Optional Services" shall also be made available to Participating Authorities for further information refer to the Specification given in schedule 1 of the Framework Terms: * Standard Additional Voluntary Contributions * Investment Advice * Additional Financial Services

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-03d31d
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/033430-2023
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Framework
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

66100000 - Banking and investment services

66500000 - Insurance and pension services

66520000 - Pension services

Notice Value(s)

Tender Value
£35,640,000 £10M-£100M
Lots Value
£35,640,000 £10M-£100M
Awards Value
Not specified
Contracts Value
£35,640,000 £10M-£100M

Notice Dates

Publication Date
13 Nov 20232 years ago
Submission Deadline
30 Jun 2023Expired
Future Notice Date
Not specified
Award Date
7 Aug 20232 years ago
Contract Period
Not specified - Not specified
Recurrence
01/06/2027

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
PORTSMOUTH CITY COUNCIL
Contact Name
Procurement Service
Contact Email
procurement@portsmouthcc.gov.uk
Contact Phone
+44 2392688235

Buyer Location

Locality
PORTSMOUTH
Postcode
PO1 2AL
Post Town
Portsmouth
Country
England

Major Region (ITL 1)
TLJ South East (England)
Basic Region (ITL 2)
TLJ3 Hampshire and Isle of Wight
Small Region (ITL 3)
TLJ31 Portsmouth
Delivery Location
Not specified

Local Authority
Portsmouth
Electoral Ward
Charles Dickens
Westminster Constituency
Portsmouth South

Supplier Information

Number of Suppliers
1
Supplier Name

AVC WISE

Open Contracting Data Standard (OCDS)

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