--- title: "Actuarial Consultancy Services in relation to Pensions" ocid: "ocds-b5fd17-e69f4d4c-c768-4694-8276-3552c1536515" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-e69f4d4c-c768-4694-8276-3552c1536515" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-e69f4d4c-c768-4694-8276-3552c1536515.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-e69f4d4c-c768-4694-8276-3552c1536515.json" source: "Contracts Finder" current_stage: "Tender" buyer: "BANK OF ENGLAND" published: "2023-01-16" --- # Actuarial Consultancy Services in relation to Pensions Buyer: BANK OF ENGLAND Current stage: Tender OCID: ocds-b5fd17-e69f4d4c-c768-4694-8276-3552c1536515 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-e69f4d4c-c768-4694-8276-3552c1536515) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-e69f4d4c-c768-4694-8276-3552c1536515.json) ## Summary The Bank of England is looking to conduct an open tender procedure for Actuarial Consultancy Services in relation to Pensions. The procurement process involves a 5-year contract with a possible extension, including services such as IAS19 valuations and advising the Pension Fund Trustees. The procurement stage is currently active, with a tender deadline of 10th February 2023. The contract period is set to start on 12th September 2023, with an estimated value of £3,000,000. This tender by the Bank of England presents an opportunity for businesses specializing in actuarial services and pension fund consultancy. The procurement process is suitable for SMEs, offering a chance to engage with a high-profile organisation and potentially secure a long-term contract. Businesses with expertise in financial consultancy and pension fund management are well-suited to compete for this tender opportunity. ## Notice The Bank is looking to conduct an open tender procedure in 2023 for the re-tender of its Actuarial Consultancy Services contract and is planning to tender for a 5-year contract (with an option to extend for up to an additional 5 years). The services to be provided will include performing the Bank's annual IAS19 valuations together with the associated disclosures for the Bank's annual report and accounts, advising the Bank in its discussions with the Pension Fund Trustees and their actuarial advisers during the triennial valuation for the Fund and during all other significant engagements with the Trustees and providing other general advice to the Bank on Pension related matters as required. The services will also include providing the cost for each of the Bank's CARE pension accrual rates, the flex rates and the opt out rates based on the Pension Fund's investment strategy. This PIN is intended to obtain expressions of interest from market suppliers in relation to the described services. The Bank would like to invite interested suppliers to respond to a market sounding questionnaire to assess suppliers' capability, capacity and appetite to deliver the services required by the Bank. In order to register your interest for this opportunity, and participate in the market sounding questionnaire exercise, please access the relevant materials via the Bank's eTendering portal (Proactis): https://supplierlive.proactisp2p.com/Account/Login Please note that the contract value included in this PIN is estimated and does not act as a commitment of spend by the Bank. During the life of the contract, the Bank is looking to tender for, it would only be required to pay for the services it uses. ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/a726725c-2920-4d68-b7c9-37879a6356d7 | | Notice type | Tender Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Not Specified | | Procurement method details | Other - | | Tender suitability | SME | | Awardee scale | Not specified | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 16 Jan 2023 | | Submission deadline | 10 Feb 2023 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | 11 Sep 2023 - 11 Sep 2033 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £3,000,000 | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Active | | Lots status | Not specified | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | BANK OF ENGLAND | | Locality | LONDON | | Post town | Central London | | Postcode | EC2R 8AH | | Country | England | | ITL 1 | TLI London | | ITL 2 | TLI3 Inner London - West | | ITL 3 | TLI35 Westminster and City of London | | Local authority | City of London | | Electoral ward | Walbrook | | Westminster constituency | Cities of London and Westminster | | Delivery location | Not specified | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### Codes - 66141000 - Pension fund management services - 66519600 - Actuarial services - 66520000 - Pension services - 66523000 - Pension fund consultancy services ## Release History - 16 Jan 2023 at 16:34 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/a726725c-2920-4d68-b7c9-37879a6356d7 ## Documents - https://www.contractsfinder.service.gov.uk/Notice/a726725c-2920-4d68-b7c9-37879a6356d7 16th January 2023 - Opportunity notice on Contracts Finder - https://supplierlive.proactisp2p.com/Account/Login Supplier Network Login Page ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-e69f4d4c-c768-4694-8276-3552c1536515. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-e69f4d4c-c768-4694-8276-3552c1536515.json.