--- title: "National LGPS Frameworks - Invitation to Participate in a Further Competition under the Actuarial, Benefits & Governance Consultancy Services Framework Agreement" ocid: "ocds-h6vhtk-03e3e4" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-03e3e4" markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-03e3e4.md" json_url: "https://d3tenders.com/contract/ocds-h6vhtk-03e3e4.json" source: "Find A Tender Service" current_stage: "Tender" buyer: "WESTMORLAND AND FURNESS COUNCIL" published: "2023-07-20" --- # National LGPS Frameworks - Invitation to Participate in a Further Competition under the Actuarial, Benefits & Governance Consultancy Services Framework Agreement Buyer: WESTMORLAND AND FURNESS COUNCIL Current stage: Tender OCID: ocds-h6vhtk-03e3e4 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-03e3e4) [Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-03e3e4.json) ## Summary The Westmorland and Furness Council has initiated a tender process for the National LGPS Frameworks. The procurement falls under the financial and insurance services industry category and involves actuarial, benefits, and governance consultancy services. The tender is currently in the active stage, with a contract period starting on October 14, 2023, and ending on October 13, 2029. The submission deadline for electronic submissions is September 1, 2023. The tender offers an opportunity for businesses to compete and secure a contract for an initial period with an option to extend further. This tender by the Westmorland and Furness Council presents an opportunity for businesses in the financial and insurance services industry to provide actuarial, benefits, and governance consultancy services to the Local Government Pension Scheme (LGPS). Companies with expertise in these areas and experience in servicing pension funds may find this tender well-suited for their capabilities. The Council is following an open procurement procedure with a focus on quality (70%) and cost (30%) criteria. Interested businesses should be prepared to submit proposals meeting the specified requirements by the deadline of September 1, 2023. ## Notice The Local Government Pension Scheme (LGPS) is a national scheme administered on a local basis by Westmorland & Furness Council through Cumbria Pension Fund ("the Fund"), providing current and future benefits for over 62,000 scheme members. ### Lot Information Lot 1 The Local Government Pension Scheme (LGPS) is a national scheme administered on a local basis by Westmorland & Furness Council through Cumbria Pension Fund ("the Fund"), providing current and future benefits for over 62,000 scheme members. The Fund is governed by the Superannuation Act 1972 and the Public Services Pensions Act 2013. The Fund is administered in accordance with the following secondary legislation: - The LGPS Regulations 2013 (as amended) - The LGPS (Transitional Provisions, Savings and Amendment) regulations 2014 (as amended) - The Occupational and Personal Pension Scheme (Administration) Regulations 2008 - The LGPS (Management and Investment of Funds) Regulations 2009 As at 31st March 2023, there were 125 employer organisations in the Fund, including Westmorland & Furness Council and Cumberland Council, with 78 scheduled employers (including 37 academy employers) and 47 admitted employers. Membership numbers as at 31st March 2023 were: Active members 20,453 (including pending leavers) Deferred members 22,878 (excluding pending leavers) Pensioner members 18,947 Total membership 62,278 Benefits are funded by contributions and investment earnings. Contributions are made by active members of the fund in accordance with the LGPS Regulations 2013 and range from 5.5% to 12.5% of pensionable pay. Employer contributions are set based on triennial actuarial valuations. The last valuation was at 31st March 2022, and future employer contribution rates were set ranging from 14.4% to 31.0% of pensionable pay. Some employers also pay annualised cash sums in respect of the recovery of their pension deficit, whilst others receive an offset on the future employer contribution rates where they have a large pension surplus. The value of the Fund at 31st March 2023 was PS3.163bn and the Fund is managed with regard to a strategic asset allocation benchmark. The actual allocation at any point in time reflects the decisions and views of the Fund's investment managers and the movement of financial markets. Options: Option to extend for a further 3 years ## Key Details | Field | Value | | --- | --- | | Publication source | Find A Tender Service | | Latest notice | https://www.find-tender.service.gov.uk/Notice/020975-2023 | | Notice type | Tender Notice | | Procurement type | Framework | | Procurement category | Services | | Procurement method | Open | | Procurement method details | Open procedure | | Tender suitability | Not specified | | Awardee scale | Not specified | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 20 Jul 2023 | | Submission deadline | 1 Sep 2023 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | 13 Oct 2023 - 13 Oct 2029 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £1,800,000 | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Active | | Lots status | Active | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | WESTMORLAND AND FURNESS COUNCIL | | Locality | KENDAL | | Post town | Lancaster | | Postcode | LA9 4DQ | | Country | England | | ITL 1 | TLD North West (England) | | ITL 2 | TLD1 Cumbria | | ITL 3 | TLD14 Westmorland and Furness | | Local authority | Westmorland and Furness | | Electoral ward | Kendal Strickland and Fell | | Westminster constituency | Westmorland and Lonsdale | | Delivery location | TLD1 Cumbria | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### Codes - 66000000 - Financial and insurance services ## Release History - 20 Jul 2023 at 14:13 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/020975-2023 ## Notice URLs - https://www.the-chest.org.uk/ - https://www.westmorlandandfurness.gov.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-03e3e4. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-03e3e4.json.