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Pensions Actuarial Advisory Services Framework

NATIONAL GRID UK LIMITED

This public procurement record has 2 releases in its history.

Tender

10 Sep 2026 at 18:40

UK4 - Tender Notice
Planning

13 Jul 2026 at 16:12

UK3 - Planned Procurement Notice
Summary of the contracting process

National Grid UK Limited is procuring pensions actuarial advisory services and related consultancy for its UK pension arrangements. The requirement covers pensions actuarial and accounting advice, scheme funding and investment strategy, governance and regulatory advice, pension benefit design and reward strategy, corporate transactions including mergers and acquisitions, pension risk management, financial wellbeing, employee benefits and wider advisory support. Services will support both routine business-as-usual activity and project-based work for National Grid and associated entities. This is a professional services requirement in the pensions and employee benefits sector, classified under CPV 66520000, with delivery across the United Kingdom. Suppliers will provide specialist advice through individual call-off engagements under a multi-supplier framework.

The procurement has reached tender: National Grid invited offers through an open competitive flexible procedure for a closed framework. Suppliers were required to submit an expression of interest and SAP Ariba onboarding form by 5:00pm on 14 September 2026, with tender submissions due by 4:00pm on 7 October 2026. Evaluation is based on technical capability, weighted 60%, and commercial capability, weighted 40%; negotiation and a revised final tender may follow. Up to nine suppliers may be appointed, with call-offs made by direct award or mini-competition. The framework is estimated at £5.2 million excluding VAT, or £6.24 million including VAT, with no guaranteed minimum volume or value. Its initial contract period runs from 24 November 2026 to 23 November 2031, with extensions by mutual agreement to 23 November 2034. The anticipated award date is 24 November 2026.

This opportunity suits established pensions consultancies, actuarial firms and employee benefits advisers able to support complex UK pension arrangements for a major regulated corporate. Strong candidates will demonstrate corporate advisory work for multi-billion-pound pension schemes and/or FTSE 100 companies, together with knowledge and capability in advising regulated corporate-sector organisations. The requirement also favours suppliers with broad expertise spanning actuarial and accounting advice, funding and investment strategy, governance, regulation, reward and benefit design, transactions, risk management, financial wellbeing and employee benefits. Suppliers need the capacity to respond to both ongoing advisory work and discrete projects, provide framework hourly rates and develop project-specific, fixed-fee or discounted pricing when required. Experience delivering through direct awards and competitive call-offs, with suitable technical resources and quality controls, will support competition for appointments and subsequent engagements.

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Notice Information

Notice Title

Pensions Actuarial Advisory Services Framework

Notice Description

National Grid is seeking to establish a multi-supplier framework agreement for the provision of Pensions Actuarial Advisory Services and related pensions, employee benefits, risk management, governance, and advisory support services across its UK pension arrangements. The framework will support both business-as-usual activities and project-based requirements and will be available for use by National Grid and its associated entities. The framework is intended to provide access to suitably qualified suppliers capable of delivering specialist advice and support across a range of areas, including but not limited to: Pensions actuarial and accounting advice. Pension scheme funding and investment strategy support. Governance and regulatory advisory services. Pension benefit design and reward strategy. Corporate transactions, mergers and acquisitions support. Pension risk management and financial wellbeing advisory services. Employee benefits and related consultancy services. National Grid intends to appoint up to nine (9) suppliers to the framework. The framework will operate through individual call-off engagements awarded either through direct award or mini-competition, depending on the nature of the requirement and the capabilities required. National Grid does not guarantee any minimum volume or value of work under the framework. The estimated value of the framework is PS5.2 million over its full potential term, comprising an initial five (5) year term with the option to extend for up to three (3) additional one-year periods. Services will be supplied on an as-needed basis in accordance with the framework agreement and the requirements of individual call-off engagements.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06c9d8
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/086154-2026
Current Stage
Tender
All Stages
Planning, Tender

Procurement Classification

Notice Type
UK4 - Tender Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Competitive flexible procedure
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66520000 - Pension services

Notice Value(s)

Tender Value
£5,200,000 £1M-£10M
Lots Value
£5,200,000 £1M-£10M
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
10 Sep 20265 days ago
Submission Deadline
7 Oct 20263 weeks to go
Future Notice Date
1 Sep 2026Expired
Award Date
Not specified
Contract Period
24 Nov 2026 - 23 Nov 2031 Over 5 years
Recurrence
2034-11-24

Notice Status

Tender Status
Active
Lots Status
Active
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
NATIONAL GRID UK 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
LONDON
Postcode
WC2N 5EH
Postcode Area
Central London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

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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