Award

2025/26 Pension Fund - Actuarial Services

NUCLEAR RESTORATION SERVICES LIMITED

This public procurement record has 3 releases in its history.

Award

24 Jun 2025 at 07:41

Award

05 Jun 2025 at 13:56

Award

05 Jun 2025 at 13:28

Summary of the contracting process

Nuclear Restoration Services Limited, a public authority operating in the sub-central government sector, is undertaking an award stage for a tender titled "2025/26 Pension Fund - Actuarial Services." The contract, valued at approximately £1.1 million, will cover professional actuarial services required by the Magnox Group of Electricity Supply Pension Scheme. The service is located in Warrington, UK, under industry category services. AON Solutions UK Limited has been awarded the contract, effective from 24th June 2025 until 31st March 2026, following a direct procurement method due to mandatory legislative requirements for formal actuary appointment under the Pension Act 1995.

This tender presents substantial opportunities for growth within the pension services industry, particularly for large firms like AON Solutions UK Limited, due to the legislative requirements for actuarial services appointment. Companies specialising in financial consultancy and actuarial services are well-suited to compete for similar contracts, offering a chance to broaden their portfolio in public sector advisory roles. SMEs interested in the pension and actuarial landscape may also find opportunities in supporting roles or subcontracting within similar frameworks, given the government's emphasis on formal appointments in the sector.

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Notice Title

2025/26 Pension Fund - Actuarial Services

Notice Description

The trustee of the Magnox Group of ESPS is obliged under pension legislation (originally Pensions Act 1995) to appoint a scheme actuary. Damien Kelson, who is employed by Aon, is the scheme actuary. This is the cost of provision of mandatory professional actuarial services to the trustee. This appointment will continue to be reviewed by the trustee periodically.

Procurement Information

The Trustee are required to formally appoint an Actuary under pension legislation and can only rely on advice from an Actuary - AON were chosen by the Trustee. The trustee of the Magnox Group of ESPS is obliged under pensions legislation (originally Pensions Act 1995) to appoint a scheme actuary. An individual who is employed by Aon, is the scheme actuary. This is the cost of provision of mandatory professional actuarial services to the trustee. This appointment will continue to be reviewed by the trustee periodically. NRS has no influence over the appointment of service providers or the determination of these costs.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-0543b7
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/034553-2025
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
UK7 - Contract Details Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Direct
Procurement Method Details
Direct award
Tender Suitability
SME
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66519600 - Actuarial services

66520000 - Pension services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£1,101,750 £1M-£10M
Contracts Value
£1,101,750 £1M-£10M

Notice Dates

Publication Date
24 Jun 20258 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
3 Jun 20258 months ago
Contract Period
23 Jun 2025 - 31 Mar 2026 6-12 months
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Active, Pending
Contracts Status
Active

Contracting Authority (Buyer)

Main Buyer
NUCLEAR RESTORATION SERVICES LIMITED
Contact Name
Alwena Owen
Contact Email
alwena.owen@nrservices.uk
Contact Phone
Not specified

Buyer Location

Locality
WARRINGTON
Postcode
WA3 6GR
Post Town
Warrington
Country
England

Major Region (ITL 1)
TLD North West (England)
Basic Region (ITL 2)
TLD6 Cheshire
Small Region (ITL 3)
TLD61 Warrington
Delivery Location
Not specified

Local Authority
Warrington
Electoral Ward
Birchwood
Westminster Constituency
Warrington North

Supplier Information

Number of Suppliers
1
Supplier Name

AON SOLUTIONS

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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