---
title: "Pension Support Services"
ocid: "ocds-h6vhtk-038a28"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-038a28"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-038a28.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-038a28.json"
source: "Find A Tender Service"
current_stage: "Award"
buyer: "THE BOARD OF TRUSTEES OF THE HIGHLANDS AND ISLANDS ENTERPRISE SUPERANNUATION SCHEME"
published: "2023-04-21"
---

# Pension Support Services

Buyer: THE BOARD OF TRUSTEES OF THE HIGHLANDS AND ISLANDS ENTERPRISE SUPERANNUATION SCHEME  
Current stage: Award  
OCID: ocds-h6vhtk-038a28

[View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-038a28)  
[Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-038a28.json)

## Summary

The Highlands and Islands Enterprise Superannuation Scheme is inviting bids for pension support services under the title "Pension Support Services" in the services industry category. The procurement process is complete, and the contract has been awarded to Spence & Partners Limited. The contract value is GBP 952,000 (ex VAT) for an initial period of 3 years starting from 1st May 2023, with possible extensions. The procurement method used was an open procedure.

This tender for pension support services represents an opportunity for businesses in the pension services industry to compete for a contract with the Highlands and Islands Enterprise Superannuation Scheme. The contract involves a range of tasks including administration, investment, actuarial services, and GMP equalisation exercise. Businesses with expertise in pension fund consultancy, investment services, and fund management are well-suited to compete for this contract. The procurement process involves rigorous quality criteria evaluation alongside price considerations, providing a fair chance for both large and small businesses to participate.

## Notice

This is a Contract Award Notice and as such the procurement process is complete. The Board of Trustees (the Trustees) of the Highlands and Islands Enterprise Superannuation Scheme (TBTHSS) are inviting bids for pension support services including Administration; Investment and Actuarial and also Guaranteed Minimum Pension (GMP) equalisation exercise. It is expected that these services will be required from 1 May 2023 for an initial period of 3 years with the Trustees having the option to extend for a period or periods together not exceeding 1 calendar year following the Initial Term. Should the supplier be unsuccessful at the re-tender, the administration services element of the contract will be extended by up to 6 months - the maximum contract length is stated as 54 months to reflect this. The maximum initial 3-year budget currently available to deliver the core elements of the service is GBP 650,000 and the maximum budget for the GMP equalisation exercise was GBP 100,000 (both excluding VAT - see Scope of Requirements and Tender Guidance for full details).

### Lot Information

Lot 1

The key tasks cover: -Administration - general; scheme accounting; pensioner payroll; governance / scheme secretarial support -Actuarial consultancy -Investment consultancy -Guaranteed Minimum Pension age equalisation exercise The contract starts on 1 May 2023 and is let for 3 years until 30 April 2026, with the Trustees having the option to extend by a period or periods up to 12 months. Additional information: Economic operators may be excluded from this competition if they are in any of the situations referred to in Regulation 58 of the Public Contracts (Scotland) Regulations 2015.

Options: The Trustees reserves the right, on giving reasonable written notice from time to time, to require changes to the Services (whether by way of the removal of Services, the addition of new Services, or increasing or decreasing the Services or specifying the order in which the Services are to be performed or the locations where the Services are to be provided). The Trustees shall not require any such change other than where it is permitted by Regulation 72 of the Public Contracts (Scotland) Regulations 2015. In accordance with Regulation 72(1)(a) of the Public Contracts (Scotland) Regulations 2015, Trustees reserves the right to make changes to the volume, scope or location of the Services to be supplied under the Framework following a review of the Services by Trustees, particularly with regard to: - Non-core activities: the Trustees will provide a set of requirements and request a price as well as delivery methodology. If accepted, these services will be charged in addition to the supplier's fixed fees. - Changes in the pensions regulations require additional services or removal of services. - The supplier is unsuccessful at the re-tender - the admin element of the contract will have to carry on for up to 6 months, allowing the incoming supplier to accommodate the handover

Renewal: The Contract will be awarded for an initial period of 3 years with the Trustees having the option to extend for a period or periods together not exceeding 1 calendar year following the Initial Term. Should the supplier be unsuccessful at the re-tender, the admin element of the contract will continue for an additional up to 6 months period.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/011420-2023 |
| Notice type | Tender Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure |
| Tender suitability | Not specified |
| Awardee scale | SME |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 21 Apr 2023 |
| Submission deadline | 24 Jan 2023 |
| Future notice date | Not specified |
| Award date | 19 Apr 2023 |
| Contract period | Not specified |
| Recurrence | The Trustees reserve the right to re-tender for these services upon termination of the contract or at the end of the contract period, including any extension period. |

## Values

| Field | Value |
| --- | --- |
| Tender value | £966,666 |
| Lots value | £966,666 |
| Awards value | Not specified |
| Contracts value | £952,000 |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Cancelled |
| Awards status | Active |
| Contracts status | Active |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | THE BOARD OF TRUSTEES OF THE HIGHLANDS AND ISLANDS ENTERPRISE SUPERANNUATION SCHEME |
| Locality | INVERNESS |
| Post town | Inverness |
| Postcode | IV2 5NA |
| Country | Scotland |
| ITL 1 | TLM Scotland |
| ITL 2 | TLM2 Highlands and Islands |
| ITL 3 | TLM20 Highlands and Islands |
| Local authority | Highland |
| Electoral ward | Inverness South |
| Westminster constituency | Inverness, Skye and West Ross-shire |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | SPENCE & PARTNERS |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66131100 - Pension investment services
- 66141000 - Pension fund management services
- 66520000 - Pension services
- 66522000 - Group pension services
- 66523000 - Pension fund consultancy services
- 66523100 - Pension fund administration services

## Release History

- 21 Apr 2023 at 07:53 - Award - Award Notice - https://www.find-tender.service.gov.uk/Notice/011420-2023
- 2 Dec 2022 at 12:25 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/034180-2022

## Notice URLs

- http://www.hse.gov.uk/pubns/hse40.pdf
- http://www.publiccontractsscotland.gov.uk
- https://api.publiccontractsscotland.gov.uk/v1/Notice?id=ocds-r6ebe6-0000711838
- https://www.hie.co.uk/
- https://www.publiccontractsscotland.gov.uk/search/Search_AuthProfile.aspx?ID=AA30553
- https://www.scotcourts.gov.uk/the-courts/court-locations/inverness-sheriff-court-and-justice-of-the-peace-court

## 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-h6vhtk-038a28. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-038a28.json.