Award

Pension Administration Support

ISLE OF WIGHT COUNCIL

This public procurement record has 2 releases in its history.

Award

04 Jun 2024 at 16:31

Award

24 May 2024 at 11:09

Summary of the contracting process

The Isle of Wight Council recently awarded a contract for Pension Administration Support to Hymans Robertson LLP. The procurement process involved a limited tender procedure without prior publication of a call for competition. This urgent contract was necessitated by the departure of experienced staff and the need for specialist knowledge of Local Government Pension Schemes. The contract, valued at £349,800, is for a 12-month period to provide support related to the Isle of Wight Council Pension Fund.

This contract presents an opportunity for businesses providing pension fund administration services, particularly those with expertise in Local Government Pension Schemes, to engage with the Isle of Wight Council. Given the specific requirements and limited competition in this area, businesses with a track record in providing similar services to public authorities may find this tender well-suited for their expertise. The contract involves delivering up to 120 hours of senior pension administrator support per month, focusing on business-as-usual tasks, project administration, and training for the pension fund.

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Notice Title

Pension Administration Support

Notice Description

Pension Administration Support for 12 month period.

Lot Information

Lot 1

Pension Administration Support for 12 month period in relation to the Isle of Wight Council Pension Fund. Provision of up to 120 hours of senior pension administrator per month, to be used as required, to support business-as-usual administration tasks and/or project administration and/or training in relation to the pension fund over the next twelve months.

Procurement Information

This urgent need has been created due to several experienced members of staff from the Authority's pension fund administration team leaving the authority over the last 12 months. A recruitment campaign has been carried out however this was unsuccessful. This contract is needed whilst an internal review and re-structure takes place. During this time specialist knowledge of Local Government Pension Schemes (LGPS) is required. There are very few suppliers that can provide LGPS support services and this supplier has a dedicated team and already understand the Isle of Wight Council's Pension scheme as have been proving temporary support under an existing contract. The Isle of Wight Council observed a 10 day standstill period which ended at midnight on 3 June 2024.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-046a47
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/017343-2024
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Limited
Procurement Method Details
Award procedure without prior publication of a call for competition
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

79 - Business services: law, marketing, consulting, recruitment, printing and security


CPV Codes

66523100 - Pension fund administration services

79620000 - Supply services of personnel including temporary staff

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£349,800 £100K-£500K

Notice Dates

Publication Date
4 Jun 20241 years ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
23 May 20241 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

Contracting Authority (Buyer)

Main Buyer
ISLE OF WIGHT COUNCIL
Contact Name
Mrs Vanessa Squibb
Contact Email
vanessa.squibb@iow.gov.uk
Contact Phone
+44 1983821000

Buyer Location

Locality
NEWPORT
Postcode
PO30 1UD
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)
TLJ34 Isle of Wight
Delivery Location
TLJ34 Isle of Wight

Local Authority
Isle of Wight
Electoral Ward
Newport Central
Westminster Constituency
Isle of Wight West

Supplier Information

Number of Suppliers
1
Supplier Name

HYMANS ROBERTSON

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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