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Project Metz

Wirral Borough Council

This public procurement record has 2 releases in its history.

Award

22 Aug 2024 at 11:14

Award Notice
Tender

29 Sep 2023 at 11:16

Tender Notice
Summary of the contracting process

Wirral Borough Council has awarded a contract under the title "Project Metz" in the industry category of Insurance and Pension Services (CPV code 66500000). The awarded contract pertains to the purchase of bulk annuities for the Merseyside Pension Fund, including pensions in payment and other non-active members linked to Arriva Merseyside Limited. This procurement process follows the Competitive Procedure with Negotiation method, highlighting the Council's role as the buyer. Key dates in the procurement timeline include the contract notice published on 29th September 2023, the Selection Questionnaire (SQ) submission deadline on 31st October 2023, and the expected transaction in May 2024. The contract period is notably long, with no fixed end date, accommodating the life-long nature of pension services.

The Project Metz tender presents a lucrative opportunity for businesses in the insurance and pension services sector, particularly those specialised in bulk annuity provisions. Companies authorised by the Prudential Regulation Authority, with a robust financial standing exceeding a Solvency Capital Requirement ratio of 150%, are well-positioned to compete. This procurement offers significant business growth potential, given the contract's high value of approximately £200 million and the long-term investment in managing pension funds. The competitive selection process, with opportunities for negotiation and refinement of proposals, ensures that businesses can leverage their expertise to meet the stringent quality and price criteria set by the Council.

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Notice Information

Notice Title

Project Metz

Notice Description

Bulk Purchase Annuity Buy- in

Lot Information

Lot 1

Bulk Purchase Annuity Buy- in. Additional information: Please note due to the nature of the contract the exact contract length cannot be determined, to accommodate this the contract length for the purposes of this notice has been set at 9999 months. The contract will have no fixed end date

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-040687
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/026801-2024
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 procedure with negotiation
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66500000 - Insurance and pension services

Notice Value(s)

Tender Value
Not specified
Lots Value
£200,000,000 £100M-£1B
Awards Value
Not specified
Contracts Value
£200,787,000 £100M-£1B

Notice Dates

Publication Date
22 Aug 20242 years ago
Submission Deadline
31 Oct 2023Expired
Future Notice Date
Not specified
Award Date
15 Apr 20242 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Wirral Borough Council
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
BIRKENHEAD
Postcode
CH41 2AB
Postcode Area
Chester
Country
England
Major Region (ITL 1)
TLD North West (England)
Basic Region (ITL 2)
TLD7 Merseyside
Small Region (ITL 3)
TLD74 Wirral
Delivery Location
TLD72 Liverpool
Local Authority
Wirral
Electoral Ward
Birkenhead and Tranmere
Westminster Constituency
Birkenhead

Supplier Information

Number of Suppliers
1
Supplier Name

Aviva Life & Pensions UK Ltd

Further Information

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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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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