Award

Members of the Senedd Pension Scheme -Third-party administration

SENEDD CYMRU / WELSH PARLIAMENT

This public procurement record has 2 releases in its history.

Award

17 Sep 2024 at 00:00

Tender

08 Dec 2023 at 00:00

Summary of the contracting process

The Senedd Cymru / Welsh Parliament has recently awarded a contract for third-party administration of the Members of the Senedd Pension Scheme. The procurement process, under a restricted procedure, was targeted at the services industry and focused specifically on pension scheme administration. The award was given to BROADSTONE CORPORATE BENEFITS LIMITED, a large-scale business entity based in London. The procurement stage has been completed, with the contract signed on 19th July 2024 and valued at £110,583. The procurement method ensured a selective and thorough evaluation of candidates, reflecting high standards in public procurement practices.

This tender offers significant growth opportunities for businesses involved in pension administration services. The rigorous selection process aligns well with experienced firms capable of handling large-scale pension schemes. The contract serves as a substantial endorsement for the winning business, enhancing credibility and opening doors to similar high-profile contracts. Moreover, the clear and defined criteria on quality and price can help firms benchmark their services, providing insights into competitive standards within the industry. Companies specialising in financial services and pension administration would be particularly well-suited to compete in such tenders, leveraging their expertise to secure similar opportunities.

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Notice Title

Members of the Senedd Pension Scheme -Third-party administration

Notice Description

The Senedd Commission ("the Commission") are seeking to appoint a third-party pension scheme administrator (TPA) to undertake the administration of the Members of the Senedd Pension Scheme (the Scheme).

Lot Information

Lot 1

The Senedd Commission ("the Commission") are seeking to appoint a third-party pension scheme administrator (TPA) to undertake the administration of the Members of the Senedd Pension Scheme (the Scheme).

Renewal: Up to a maximum of a further 60 Months

Publication & Lifecycle

Open Contracting ID
ocds-kuma6s-137159
Publication Source
Sell2Wales
Latest Notice
https://www.sell2wales.gov.wales/search/search_switch.aspx?ID=137159
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
OJEU - F3 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Restricted procedure
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

66520000 - Pension services

66522000 - Group pension services

66523000 - Pension fund consultancy services

Notice Value(s)

Tender Value
£365,000 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£110,583 £100K-£500K

Notice Dates

Publication Date
17 Sep 20241 years ago
Submission Deadline
10 Jan 2024Expired
Future Notice Date
Not specified
Award Date
19 Jul 20241 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
SENEDD CYMRU / WELSH PARLIAMENT
Contact Name
Not specified
Contact Email
alexander.dalton@senedd.wales
Contact Phone
+44 3002006265

Buyer Location

Locality
CARDIFF
Postcode
CF99 1SN
Post Town
Cardiff
Country
Wales

Major Region (ITL 1)
TLL Wales
Basic Region (ITL 2)
TLL5 South East Wales
Small Region (ITL 3)
TLL52 Cardiff and Vale of Glamorgan
Delivery Location
TLL22 Cardiff and Vale of Glamorgan

Local Authority
Cardiff
Electoral Ward
Butetown
Westminster Constituency
Cardiff South and Penarth

Supplier Information

Number of Suppliers
1
Supplier Name

BROADSTONE CORPORATE BENEFITS

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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