--- title: "Actuarial Consultancy Services in relation to Pensions" ocid: "ocds-h6vhtk-0397f9" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-0397f9" markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-0397f9.md" json_url: "https://d3tenders.com/contract/ocds-h6vhtk-0397f9.json" source: "Find A Tender Service" current_stage: "Planning" buyer: "BANK OF ENGLAND" published: "2023-01-16" --- # Actuarial Consultancy Services in relation to Pensions Buyer: BANK OF ENGLAND Current stage: Planning OCID: ocds-h6vhtk-0397f9 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-0397f9) [Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-0397f9.json) ## Summary The Bank of England is planning to conduct an open tender procedure in 2023 for Actuarial Consultancy Services related to Pensions. The contract is expected to be for 5 years, with the possibility of a 5-year extension. The services will involve various actuarial tasks, including annual valuations, advice to trustees, and general pension-related guidance. The total contract value is estimated at £3,000,000. The procurement process is at the planning stage. The Bank is located in London, UK, and the procurement classification falls under pension services. This tender by the Bank of England presents an opportunity for businesses in the actuarial and pension services industry to compete for a significant contract. Companies with expertise in pension fund management, consultancy, and actuarial services will find this tender well-suited to their capabilities. Interested suppliers can engage in a market sounding questionnaire exercise on the Bank's eTendering portal. The future notice date for this opportunity is set for February 23, 2023, allowing interested parties to prepare and participate in the upcoming tender process. ## 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. ### Lot Information Lot 1 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 | Find A Tender Service | | Latest notice | https://www.find-tender.service.gov.uk/Notice/001330-2023 | | Notice type | Planning Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Not Specified | | Procurement method details | Not specified | | Tender suitability | Not specified | | Awardee scale | Not specified | | All stages | Planning | ## Dates | Field | Value | | --- | --- | | Publication date | 16 Jan 2023 | | Submission deadline | Not specified | | Future notice date | 23 Feb 2023 | | Award date | Not specified | | Contract period | Not specified | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £3,000,000 | | Lots value | £3,000,000 | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Planned | | Lots status | Planned | | 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 16:36 - Planning - Planning Notice - https://www.find-tender.service.gov.uk/Notice/001330-2023 ## Notice URLs - https://supplierlive.proactisp2p.com/Account/Login - https://www.bankofengland.co.uk/ ## 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-0397f9. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-0397f9.json.