Award

Professional Corporate Sole Trustee (PCST) services for Aston University Pension Scheme (AUPS)

ASTON UNIVERSITY

This public procurement record has 3 releases in its history.

Award

31 Jul 2025 at 12:08

UK7 - Contract Details Notice
Award

18 Jun 2025 at 10:11

UK6 - Contract Award Notice
Award

18 Jun 2025 at 09:29

UK5 - Transparency Notice
Summary of the contracting process

Aston University has completed a procurement process to secure Professional Corporate Sole Trustee (PCST) services for its Pension Scheme. The contracting process was initiated by tender, with the award finalised on 31 July 2025, aligning with its legal basis (UKPGA 2023/54). The direct award method was chosen, deemed most efficient for managing the Defined Benefit pension scheme, ensuring integrity and compliance with evolving TPR requirements. Located in Birmingham, Aston University operates as a public authority within sub-central government. The main procurement category is services, specifically focused on pension fund management. The contract, valued at £2,630,610, commenced on 1 July 2025 and extends to 30 May 2028, with a renewal option up to 30 May 2031.

This procurement presents significant growth opportunities for businesses specialising in pension fund management and related services such as actuarial, governance, investment management, legal consultancies, and audit. With the adoption of the Professional Corporate Sole Trustee model being relatively new in the market, it's an appealing opportunity for firms with innovation and risk-minimising capabilities. The tender offers long-term engagement potential for SMEs like Ross Trustees Services Limited, who have been awarded this contract due to their capability in delivering focused management and advisory services. Companies with expertise in this niche can leverage similar contracts to expand their reach within public sector pension schemes.

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Notice Information

Notice Title

Professional Corporate Sole Trustee (PCST) services for Aston University Pension Scheme (AUPS)

Notice Description

Professional Corporate Sole Trustee (PCST) services for the Aston University Pension Scheme (closed to future accrual). This will include Trustee services, pension administration, member communications, actuarial services, audit, governance, legal, covenant, investment management and monitoring advice. Adopting a Professional Corporate Sole Trustee (PCST) model to administer the Aston University Pension Scheme has been determined to be the most efficient way to manage the legacy Defined Benefit pension scheme going forward while ensuring the integrity of the scheme, including funding position, ongoing administration and compliance with evolving TPR requirements is maintained. This is a relatively new approach in the market but it has been determined that minimising disruption and limiting risk during the current triennial valuation is the optimal outcome and that this was the only option whereby continuity of the current actuarial, investment and professional trustee services could be maintained while achieving efficiencies.

Procurement Information

Adopting a Professional Corporate Sole Trustee (PCST) model to administer the Aston University Pension Scheme has been determined to be the most efficient way to manage the legacy Defined Benefit pension scheme going forward while ensuring the integrity of the scheme, including funding position, ongoing administration and compliance with evolving TPR requirements is maintained. This is a relatively new approach in the market but it has been determined that minimising disruption and limiting risk during the current triennial valuation is the optimal outcome and that this was the only option whereby continuity of the current actuarial, investment and professional trustee services could be maintained while achieving efficiencies.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-054ed2
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/044734-2025
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
Not specified
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66141000 - Pension fund management services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£2,630,610 £1M-£10M
Contracts Value
£2,630,610 £1M-£10M

Notice Dates

Publication Date
31 Jul 20256 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
17 Jun 20258 months ago
Contract Period
30 Jun 2025 - 30 May 2028 2-3 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
ASTON UNIVERSITY
Contact Name
Not specified
Contact Email
procurement@aston.ac.uk
Contact Phone
Not specified

Buyer Location

Locality
BIRMINGHAM
Postcode
B4 7ET
Post Town
Birmingham
Country
England
Major Region (ITL 1)
TLG West Midlands (England)
Basic Region (ITL 2)
TLG3 West Midlands
Small Region (ITL 3)
TLG31 Birmingham
Delivery Location
Not specified
Local Authority
Birmingham
Electoral Ward
Nechells
Westminster Constituency
Birmingham Ladywood

Supplier Information

Number of Suppliers
1
Supplier Name

ROSS TRUSTEES SERVICES

Further Information

Notice Documents

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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