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Pension administration services

United Kingdom Atomic Energy Authority

This public procurement record has 1 release in its history.

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02 Dec 2024 at 14:22

Award Notice
Summary of the contracting process

The United Kingdom Atomic Energy Authority (UKAEA) has completed a tender process for "Pension administration services" in the services category, specifically within the "Group pension services" industry classified under CPV code 66522000. This procurement covers services in the UKJ14 region, with the final contract awarded and signed on 8th October 2024. This process followed a limited procurement method, negotiated without publication of a contract notice, due to the absence of competition for technical reasons. The procurement aimed to ensure continued pension administration services, particularly during the forthcoming transition to the civil service pension scheme under the Public Service Pensions Act 2013. The contract, valued at £6,500,000, will remain active until March 2025.

This tender presents significant opportunities for businesses specialising in pension and insurance services, especially those equipped for handling large-scale administration transitions and statutory compliance. The contract with UKAEA, an established public body with a large member base, offers a stable and substantial engagement, beneficial for growth in the sector. Companies with experience in large-scale organisational pension transitions, akin to the ongoing shift of the UKAEA pension scheme members to the civil service scheme, are well-suited to compete in such tenders leveraging their expertise and the continuity of service required by statutory mandates.

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Notice Information

Notice Title

Pension administration services

Notice Description

Pension administration services

Procurement Information

The contract is to supply pension administration services to UKAEA. UKAEA acts as scheme manager for several pension schemes, meaning there is a statutory requirement to run the schemes. There is no service requirement for investment management or advice under this contract. Reason for non-competitive action - Timing and cost Issue caused by legislation (see below) Under the Public Service Pensions Act 2013 the UKAEA pension scheme ('Scheme') is required to close to future accrual (i.e. individuals will stop building up pension) and ensure active members start building up pension in 'alpha', part of the civil service pension scheme. The alpha contract is overseen by the Cabinet Office. UKAEA's role in this will be as an employer, rather than contract manager. This legally-mandated change was due to occur in 2017-18, however this has now been delayed until late 2026. The existing contract for Pension administration services expires in March 2025. Once the move to alpha occurs, the existing Scheme will have only deferred and pensioner members. Deferred members are those who are no longer building up pension but have not yet retired. The UKAEA Scheme has 40k members, of which 4k are active. Due to the transition costs and the duration it would take to transition to a new supplier with then having to halt any active member work from 2026 due to alpha ie the contract will need to have 12-18 months of a full admin service, then dropping down to just deferred/pensioners we will direct awarded to our existing administration providers to ensure continuity of service for this work.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-04c183
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/038769-2024
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Limited
Procurement Method Details
Negotiated without publication of a contract notice
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

66520000 - Pension services

66522000 - Group pension services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£6,500,000 £1M-£10M

Notice Dates

Publication Date
2 Dec 20241 years ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
8 Oct 20241 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
United Kingdom Atomic Energy Authority
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
ABINGDON
Postcode
OX14 3DB
Postcode Area
Oxford
Country
England
Major Region (ITL 1)
TLJ South East (England)
Basic Region (ITL 2)
TLJ1 Berkshire, Buckinghamshire and Oxfordshire
Small Region (ITL 3)
TLJ14 Oxfordshire CC
Delivery Location
TLJ14 Oxfordshire CC
Local Authority
South Oxfordshire
Electoral Ward
Sandford & the Wittenhams
Westminster Constituency
Didcot and Wantage

Supplier Information

Number of Suppliers
1
Supplier Name

Paymaster (1836) Limited

Further Information

Open Contracting Data Standard (OCDS)

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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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