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2026/27 Pension Fund - Investment Advice

Nuclear Restoration Services Limited

This public procurement record has 2 releases in its history.

Award

01 Jul 2026 at 13:34

UK7 - Contract Details Notice
Award

11 Jun 2026 at 16:17

UK5 - Transparency Notice
Summary of the contracting process

Nuclear Restoration Services Limited, a sub-central government public authority based in Risley, Warrington, has awarded a contract for the 2026/27 Pension Fund Investment Advice to AON Investments Limited. The procurement process follows a direct award method in compliance with the Electricity Supply Pension Scheme (ESPS) Trustee's legal requirements to appoint a qualified investment adviser. This contract, valued at £1,627,000, is categorised under pension services and will be active from 1st July 2026 to 31st March 2027. This stage of procurement is complete, with key dates including the contract signing on 30th June 2026. The main location is Warrington, UK, and the industry category focuses on financial services.

This tender offers substantial opportunities for businesses in the financial advisory sector, particularly those specialising in pension fund management and advice. Due to the direct award process in this instance, competition may not be applicable, but it highlights the importance of establishing a qualified presence and reputation in regulated financial advice to secure similar opportunities. Large, regulated advisory firms with experienced professionals capable of offering compliant, high-quality investment advice aligned to the objectives of public pension schemes would be well-suited to compete for future tenders should processes allow for competitive tendering.

How relevant is this notice?

Notice Information

Notice Title

2026/27 Pension Fund - Investment Advice

Notice Description

The Trustee has appointed Aon as Investment Adviser to the Electricity Supply Pension Scheme (ESPS). The appointment is in line with legislative requirements which mandate that pension scheme trustees obtain advice from a suitably qualified and regulated investment adviser. In accordance with the ESPS Trust Deed and Rules, costs associated with investment advice are permitted to be charged directly to the pension fund. These costs are not paid directly by the employer but are instead recharged to the Scheme and met from Scheme assets, which are ultimately funded by employer contributions.

Procurement Information

The contract has been directly awarded to AON in accordance with the requirements of the Electricity Supply Pension Scheme (ESPS) Trustee. The Trustee is legally obligated to appoint a suitably qualified and regulated Investment Adviser to support the effective governance and management of the Scheme. AON is the incumbent Investment Adviser formally appointed by the Trustee and provides regulated investment advisory services to the ESPS. As this appointment sits solely with the Trustee, the employer does not have the authority to appoint an alternative provider or to competitively tender this requirement. In line with the ESPS Trust Deed and Rules, investment advisory fees are required to be met from the Scheme and are therefore recharged to the pension fund rather than being directly procured and paid for by the employer. These costs represent the only category of expenditure that may be charged directly to the Scheme in this way. This award is an administrative task by NRS to enable the processing and management of these charges rather than a procurement decision. Competition is not applicable in this instance, and a direct award to AON is the only compliant and appropriate route.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06b35f
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/061738-2026
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

66131100 - Pension investment services

66520000 - Pension services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£1,627,000 £1M-£10M
Contracts Value
£1,627,000 £1M-£10M

Notice Dates

Publication Date
1 Jul 20261 months ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
11 Jun 20262 months ago
Contract Period
1 Jul 2026 - 31 Mar 2027 6-12 months
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Nuclear Restoration Services Limited
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
WARRINGTON
Postcode
WA3 6GR
Postcode Area
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 Investments Limited

Further Information

Notice Documents

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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