Notice Information
Notice Title
Pension Fund: Investment Consultancy
Notice Description
Short term 12-month investment consultancy contract, based on the terms of the existing contract to allow continuation of services until a full formal tender process can be run and the outcome of the Government's Fit For Future consultation is known including the implications on the Fund's investment advice going forward.
Procurement Information
The Authority has a contract with Hymans Robertson for the provision of Investment Consultancy Services since 10 July 2018 that is expiring on 9 July 2025 let via LGPS Investment Management Consultancy Services Framework . The average annual spend over this period was PS250833.00 (Ex VAT). The Authority intends to direct award a 12 month contract to the current supplier. The Authority is direct awarding to the current supplier as using a different supplier during the middle of the valuation would disrupt continuity and potentially increase costs due to duplication of existing work that has already started, therefore this is the only supplier that can continue with this. The significant changes being proposed by the Government, which need to be implemented by March 2026, do not allow time for a new suppler to gain sufficient depth of knowledge and/or understanding about the Isle of Wight Pension Fund. The Government's proposed timetables for introducing change, with in-principle decisions to be made by September 2025 by the Fund, regarding the Fund's partner investment pool company, also do not allow time to on-board any new supplier and ensure continuity of services.
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-h6vhtk-05595b
- Publication Source
- Find A Tender Service
- Latest Notice
- https://www.find-tender.service.gov.uk/Notice/008237-2026
- 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
- Large
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
- £250,000 £100K-£500K
- Contracts Value
- £250,000 £100K-£500K
Notice Dates
- Publication Date
- 29 Jan 20263 weeks ago
- Submission Deadline
- Not specified
- Future Notice Date
- Not specified
- Award Date
- 3 Jul 20257 months ago
- Contract Period
- 17 Jul 2025 - 17 Jul 2026 6-12 months
- Recurrence
- Not specified
Notice Status
- Tender Status
- Complete
- Lots Status
- Complete
- Awards Status
- Active
- Contracts Status
- Active
Buyer & Supplier
Contracting Authority (Buyer)
- Main Buyer
- ISLE OF WIGHT COUNCIL
- Contact Name
- Vanessa Squibb
- Contact Email
- procurement@iow.gov.uk
- Contact Phone
- 019683821000
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
- Not specified
-
- Local Authority
- Isle of Wight
- Electoral Ward
- Newport Central
- Westminster Constituency
- Isle of Wight West
Further Information
Notice Documents
-
https://www.find-tender.service.gov.uk/Notice/008237-2026
29th January 2026 - Contract details notice on Find a Tender -
https://www.find-tender.service.gov.uk/Notice/037524-2025
4th July 2025 - Contract award notice on Find a Tender -
https://www.find-tender.service.gov.uk/Notice/037515-2025
4th July 2025 - Transparency notice on Find a Tender
Open Contracting Data Standard (OCDS)
View full OCDS Record for this contracting process
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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