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CS1039 C - ACS Risk Methodology

Pension Protection Fund

This public procurement record has 1 release in its history.

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08 Oct 2026 at 13:43

UK7 - Contract Details Notice
Summary of the contracting process

The Pension Protection Fund commissioned actuarial services to review the methodology used to calculate levies for Alternative Covenant Schemes (ACSs). The work has two stages: an interim review to identify changes appropriate for levy year 2027/28, particularly in response to introducing indexation on compensation tranches for pre-1997 service, followed by a more fundamental review of the approach for levy years 2028/29 onwards. The buying organisation is the Pension Protection Fund. The services are for the Fund’s levy-setting work, with delivery in the United Kingdom.

The procurement is complete and the contract has been awarded to Hymans Robertson LLP, which also signed the contract. The Pension Protection Fund used a below-threshold limited competition. There was one lot, marked complete. The contract was signed on 8 October 2026 and runs from 9 October 2026 to 31 March 2027. Its value is £65,787 excluding VAT (£78,945 including VAT). The award is active. The procurement information describes the intended two-stage review: an interim assessment for levy year 2027/28, with particular attention to pre-1997 compensation indexation, and a fundamental review for 2028/29 onwards. No separate award date or evaluation criteria are stated.

This award shows demand from the Pension Protection Fund for specialist actuarial advice on assessing the risk and levy methodology for Alternative Covenant Schemes. A credible competitor for comparable work would need actuarial capability and experience reviewing levy calculations, understanding pension compensation arrangements and assessing how changes to indexation affect scheme risk and funding. The work combines a near-term review of specific methodological changes with a deeper redesign of the approach for later levy years, so suppliers need to handle both targeted analysis and longer-term methodology development. The buyer selected a large actuarial consultancy through a limited competition, indicating that relevant technical expertise and the capacity to deliver a staged review are central to competing for this kind of requirement.

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Notice Information

Notice Title

CS1039 C - ACS Risk Methodology

Notice Description

The PPF are seeking to review the methodology used to calculate levies for Alternative Covenant Schemes (ACSs). This will be a two-stage process, namely: 1. an interim review to determine appropriate changes for levy year 2027/28, particularly in light of the introduction of indexation on PPF compensation tranches which relate to pre 97 service ('pre 97 indexation'); and 2. a more fundamental review to determine the approach for levy year 2028/29 onwards.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-0783c2
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/095206-2026
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
UK7 - Contract Details Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Limited
Procurement Method Details
Below threshold - limited competition
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66519600 - Actuarial services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£65,787 Under £100K

Notice Dates

Publication Date
8 Oct 20262 weeks ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
9 Oct 2026 - 31 Mar 2027 1-6 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
Pension Protection Fund
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
CROYDON
Postcode
CR0 2NA
Postcode Area
Croydon
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI6 Outer London - South
Small Region (ITL 3)
TLI62 Croydon
Delivery Location
Not specified
Local Authority
Croydon
Electoral Ward
Fairfield
Westminster Constituency
Croydon West

Supplier Information

Number of Suppliers
1
Supplier Name

Hymans Robertson LLP

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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