---
title: "Defined Contribution Pension Scheme Provider"
ocid: "ocds-b5fd17-2cdcb96b-7069-4225-b1e8-cc420ccd5e29"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-2cdcb96b-7069-4225-b1e8-cc420ccd5e29"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-2cdcb96b-7069-4225-b1e8-cc420ccd5e29.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-2cdcb96b-7069-4225-b1e8-cc420ccd5e29.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "NEW MODEL IN TECHNOLOGY & ENGINEERING"
published: "2018-03-29"
---

# Defined Contribution Pension Scheme Provider

Buyer: NEW MODEL IN TECHNOLOGY & ENGINEERING  
Current stage: Award  
OCID: ocds-b5fd17-2cdcb96b-7069-4225-b1e8-cc420ccd5e29

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## Summary

The procurement process for the Defined Contribution Pension Scheme Provider is being conducted by the New Model in Technology & Engineering (NMiTE), a newly established university located in Hereford, West Midlands. This tender, classified under "Pension fund management services", is currently in the Award stage, with the contract awarded on 14th February 2018 and published on 29th March 2018. The maximum contract value for this service is set at £180,000, and while the contract period commenced on 19th February 2018, it has no fixed end date as it scales with the institution's growth, which aims to surpass 500 employees by 2032.

This tender presents a significant opportunity for businesses specialising in workplace personal pension schemes, particularly those regulated by the Financial Conduct Authority. Providers that qualify must also be on the Pension Regulator's list of approved master trust providers. As NMiTE actively seeks to expand its workforce and enrolment, companies that can offer innovative pension solutions tailored to the needs of a growing educational institution will be well-positioned to compete. The active participation in this tender process can lead to substantial business growth within the education sector.

## Notice

NMiTE is a new university level institution which is being set up to teach engineering in a radical new way. It has three key aims: to educate more home-grown UK engineers with the skills employers need through a partnership model designed by academics, students, industry, innovators and international partners; to expand the diversity of the UK's engineering talent pool by aiming for a 50:50 gender balance; and * to be the UK's innovation lab for change in engineering education. NMiTE aims to enrol its first fee paying students in 2020 at a purpose-built city centre campus in Herford and plans to be educating 5,000+ students by 2032. NMiTE plans to recruit employees to support the increasing student numbers, such that the total number of staff is expected to exceed 500 by the time student numbers achieve 5,000. NMiTE will use the New Scheme to meet its auto-enrolment obligations in respect of all existing employees and new hires. NMiTE requires that the DC Pension Scheme takes the form of a Group Personal Pension Plan or Master Trust, with a single category structure (uniform basis for all members). In respect of the investment arrangement, a suitable off-the-shelf, governed default is preferred. To ensure consistency in respect of management of the pension scheme and as initially the size of the scheme will be small, growing in proportion with staff numbers, the contract has no set end date. NMiTE has set a maximum value in relation to the contract, consistent with its standing order limits for tender processes of PS180,000. However, NMiTE reserves the right to re-tender for Provider Management Services prior to the maximum contract value being reached. Additional information: This process was managed by Barnett Waddingham LLP on behalf of NMiTE. Details can be obtained from the above contact point. To have expressed an interest in this procurement in respect of GPPP provision, potential providers must be a UK based provider of workplace personal pension schemes, regulated by the Financial Conduct Authority (and Prudential Regulation Authority where applicable) and have an independent governance committee that has assessed the GPPP on offer. To have expressed an interest in this procurement in respect of master trust provision, potential providers must have qualified for inclusion in the Pension Regulator's list of approved master trust providers.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/08e583f6-dc76-4998-92d9-8564a99a9883 |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Not Specified |
| Procurement method details | Other - Non-OJEU Tender Process |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 29 Mar 2018 |
| Submission deadline | 19 Jan 2018 |
| Future notice date | Not specified |
| Award date | 14 Feb 2018 |
| Contract period | 19 Feb 2018 - 18 Feb 2040 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | Not specified |
| Lots value | Not specified |
| Awards value | £180,000 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | NEW MODEL IN TECHNOLOGY & ENGINEERING |
| Locality | HEREFORD |
| Post town | Hereford |
| Postcode | HR1 2HX |
| Country | England |
| ITL 1 | TLG West Midlands (England) |
| ITL 2 | TLG1 Herefordshire, Worcestershire and Warwickshire |
| ITL 3 | TLG11 Herefordshire, County of |
| Local authority | Herefordshire, County of |
| Electoral ward | Central |
| Westminster constituency | Hereford and South Herefordshire |
| Delivery location | TLG West Midlands (England) |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | AVIVA LIFE & PENSIONS |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66141000 - Pension fund management services
- 66520000 - Pension services

## Release History

- 29 Mar 2018 at 08:09 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/08e583f6-dc76-4998-92d9-8564a99a9883
- 12 Jan 2018 at 13:04 - TenderAmendment - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/ed7c422d-b6aa-4af8-871c-e2159e5991f9
- 9 Jan 2018 at 17:02 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/ed7c422d-b6aa-4af8-871c-e2159e5991f9

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/08e583f6-dc76-4998-92d9-8564a99a9883
  29th March 2018 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/ed7c422d-b6aa-4af8-871c-e2159e5991f9
  12th January 2018 - Opportunity notice on Contracts Finder

## Notice URLs

- http://nmite.org.uk/

## Provenance

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