Notice Information
Notice Title
National LGPS Frameworks - Invitation to Participate in a Further Competition under the Actuarial, Benefits & Governance Consultancy Services Framework Agreement
Notice Description
The Local Government Pension Scheme (LGPS) is a national scheme administered on a local basis by Westmorland & Furness Council through Cumbria Pension Fund ("the Fund"), providing current and future benefits for over 62,000 scheme members.
Lot Information
Lot 1
The Local Government Pension Scheme (LGPS) is a national scheme administered on a local basis by Westmorland & Furness Council through Cumbria Pension Fund ("the Fund"), providing current and future benefits for over 62,000 scheme members. The Fund is governed by the Superannuation Act 1972 and the Public Services Pensions Act 2013. The Fund is administered in accordance with the following secondary legislation: - The LGPS Regulations 2013 (as amended) - The LGPS (Transitional Provisions, Savings and Amendment) regulations 2014 (as amended) - The Occupational and Personal Pension Scheme (Administration) Regulations 2008 - The LGPS (Management and Investment of Funds) Regulations 2009 As at 31st March 2023, there were 125 employer organisations in the Fund, including Westmorland & Furness Council and Cumberland Council, with 78 scheduled employers (including 37 academy employers) and 47 admitted employers. Membership numbers as at 31st March 2023 were: Active members 20,453 (including pending leavers) Deferred members 22,878 (excluding pending leavers) Pensioner members 18,947 Total membership 62,278 Benefits are funded by contributions and investment earnings. Contributions are made by active members of the fund in accordance with the LGPS Regulations 2013 and range from 5.5% to 12.5% of pensionable pay. Employer contributions are set based on triennial actuarial valuations. The last valuation was at 31st March 2022, and future employer contribution rates were set ranging from 14.4% to 31.0% of pensionable pay. Some employers also pay annualised cash sums in respect of the recovery of their pension deficit, whilst others receive an offset on the future employer contribution rates where they have a large pension surplus. The value of the Fund at 31st March 2023 was PS3.163bn and the Fund is managed with regard to a strategic asset allocation benchmark. The actual allocation at any point in time reflects the decisions and views of the Fund's investment managers and the movement of financial markets.
Options: Option to extend for a further 3 years
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-h6vhtk-03e3e4
- Publication Source
- Find A Tender Service
- Latest Notice
- https://www.find-tender.service.gov.uk/Notice/020975-2023
- Current Stage
- Tender
- All Stages
- Tender
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
- Not specified
Common Procurement Vocabulary (CPV)
- CPV Divisions
66 - Financial and insurance services
-
- CPV Codes
66000000 - Financial and insurance services
Notice Value(s)
- Tender Value
- £1,800,000 £1M-£10M
- Lots Value
- Not specified
- Awards Value
- Not specified
- Contracts Value
- Not specified
Notice Dates
- Publication Date
- 20 Jul 20232 years ago
- Submission Deadline
- 1 Sep 2023Expired
- Future Notice Date
- Not specified
- Award Date
- Not specified
- Contract Period
- 13 Oct 2023 - 13 Oct 2029 Over 5 years
- 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
- WESTMORLAND AND FURNESS COUNCIL
- Contact Name
- Mrs Alyson Delin
- Contact Email
- alyson.delin@westmorlandandfurness.gov.uk
- Contact Phone
- Not specified
Buyer Location
- Locality
- KENDAL
- Postcode
- LA9 4DQ
- Post Town
- Lancaster
- Country
- England
-
- Major Region (ITL 1)
- TLD North West (England)
- Basic Region (ITL 2)
- TLD1 Cumbria
- Small Region (ITL 3)
- TLD14 Westmorland and Furness
- Delivery Location
- TLD1 Cumbria
-
- Local Authority
- Westmorland and Furness
- Electoral Ward
- Kendal Strickland and Fell
- Westminster Constituency
- Westmorland and Lonsdale
Further Information
Open Contracting Data Standard (OCDS)
View full OCDS Record for this contracting process
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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