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FIN005/2024 Teesside Pension Administration Service

Middlesbrough Borough Council

This public procurement record has 2 releases in its history.

Award

06 Jan 2025 at 15:58

Award Notice
Tender

31 Dec 2024 at 11:53

Tender Notice
Summary of the contracting process

Middlesbrough Borough Council is managing the procurement process for the Teesside Pension Administration Service, classified under Financial and insurance services (CPV code 66000000). This open procedure process, identified as DN727191, entails appointing a contractor to deliver administration services for the Teesside Pension Fund, with a contract value of £8,000,000. The procurement is in the stage of transitioning from Tender to Award, with key dates including the tender period's end on 1 January 2025 and the award start on 14 June 2024. The service provision will be based in the UKC12 region, and the contract offers the potential of 2 x 3-year optional extensions.

This tender opens substantial opportunities for businesses specializing in financial and insurance services. The contract's significant value and duration, complemented by potential extensions, present considerable growth prospects. Companies with experience in managing pension funds and administrative services are well-positioned to compete. Medium-sized enterprises, such as the awarded Tyne and Wear Pension Fund, and other firms equipped to handle comprehensive financial services, stand to benefit considerably from securing this contract.

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Notice Information

Notice Title

FIN005/2024 Teesside Pension Administration Service

Notice Description

Teesside Pension Administration Service

Lot Information

Lot 1

Teesside Pension Administration Service

Options: 2 x 3 year extensions

Renewal: This contract will have an initial term of 4 years followed by further periods of two 3 year optional extensions.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-04cd2c
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/000227-2025
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
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

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
£8,000,000 £1M-£10M
Lots Value
£8,000,000 £1M-£10M
Awards Value
Not specified
Contracts Value
£7,893,000 £1M-£10M

Notice Dates

Publication Date
6 Jan 20251 years ago
Submission Deadline
1 Jan 2025Expired
Future Notice Date
Not specified
Award Date
9 Oct 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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Middlesbrough 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
MIDDLESBROUGH
Postcode
Not specified
Postcode Area
Not specified
Country
Not specified
Major Region (ITL 1)
Not specified
Basic Region (ITL 2)
Not specified
Small Region (ITL 3)
Not specified
Delivery Location
TLC12 South Teesside
Local Authority
Not specified
Electoral Ward
Not specified
Westminster Constituency
Not specified

Supplier Information

Number of Suppliers
1
Supplier Name

Tyne and Wear Pension Fund

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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