Award

Independent Professional Observer Service for the Lothian Pension Fund

THE CITY OF EDINBURGH COUNCIL

This public procurement record has 2 releases in its history.

Summary of the contracting process

The City of Edinburgh Council is procuring an Independent Professional Observer Service for the Lothian Pension Fund, with a total contract value of £154,000. This procurement process is currently in the active tender stage, with the submission deadline set for 14th June 2018. The service will be conducted in Edinburgh, under an open procedure, which allows any interested suppliers to submit bids. The successful bidder will assist the Pensions Committee and Board in effectively questioning and challenging professional advice, ensuring due diligence in their operations.

This tender presents significant opportunities for businesses in the consultancy and professional services sectors, particularly those with expertise in pensions and financial advisory services. Small and medium-sized enterprises (SMEs) are encouraged to compete, as they currently represent a majority of the bidders. The ability to provide comprehensive support and training for pension committees, along with a track record of relevant experience, will be key differentiators for competing firms.

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Notice Title

Independent Professional Observer Service for the Lothian Pension Fund

Notice Description

The role of the Independent Professional Observer Service (IPO) will be to assist Pensions Committee and Pension Board in questioning and challenging advice, hence providing comfort that advice is proportionate. Please see the Specification document for full details of the requirement.

Lot Information

Lot 1

The role of the Independent Professional Observer (IPO) will be to assist Pensions Committee and Pension Board in questioning and challenging advice, hence providing comfort that advice is proportionate. This shall include but is not limited to: - Attendance at all meetings of the Pensions Committee and Pensions Audit Sub-Committee in Edinburgh; - Receiving and reviewing all draft papers for the Committees at the same time as the Convenors and provide detailed feedback on the papers (either by call and/or email); - Holding a pre-committee meeting (or 'surgery') for the Committee and Pension Board immediately prior to each quarterly meeting; - Providing assistance to the Committees in questioning and challenging professional advice - Providing ad-hoc consultation with members of the Committee and Board in between meetings to the extent that these are reasonably required by LPF or deemed to be necessary (whether through meetings, conference calls or correspondence, as appropriate); and - Deliver training events for the Committee and Board, involving no more than two half day sessions per year.

Renewal: Initial contract duration of 3 years. Thereafter, subject to satisfactory performance and potential future requirements, the Council may wish to extend delivery of the contract for up to 2 additional periods of 2 years each (a total of up to 4 additional years).

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000543983
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=AUG329568
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
PCS Notice - Website Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66131100 - Pension investment services

Notice Value(s)

Tender Value
£154,000 £100K-£500K
Lots Value
£154,000 £100K-£500K
Awards Value
Not specified
Contracts Value
£154,000 £100K-£500K

Notice Dates

Publication Date
28 Aug 20187 years ago
Submission Deadline
14 Jun 2018Expired
Future Notice Date
Not specified
Award Date
21 Aug 20187 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
THE CITY OF EDINBURGH COUNCIL
Contact Name
Not specified
Contact Email
brian.mccreadie@edinburgh.gov.uk
Contact Phone
+44 1315292160

Buyer Location

Locality
EDINBURGH
Postcode
EH8 8BG
Post Town
Edinburgh
Country
Scotland

Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM1 East Central Scotland
Small Region (ITL 3)
TLM13 City of Edinburgh
Delivery Location
TLM75 City of Edinburgh

Local Authority
City of Edinburgh
Electoral Ward
City Centre
Westminster Constituency
Edinburgh East and Musselburgh

Supplier Information

Number of Suppliers
1
Supplier Name

ANDY MCKINNELL

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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