---
title: "Wales Pension Partnership Regulator of Operator Services"
ocid: "ocds-kuma6s-128136"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-kuma6s-128136"
markdown_url: "https://d3tenders.com/contract/ocds-kuma6s-128136.md"
json_url: "https://d3tenders.com/contract/ocds-kuma6s-128136.json"
source: "Sell2Wales"
current_stage: "Award"
buyer: "CARMARTHENSHIRE COUNTY COUNCIL"
published: "2024-09-27"
---

# Wales Pension Partnership Regulator of Operator Services

Buyer: CARMARTHENSHIRE COUNTY COUNCIL  
Current stage: Award  
OCID: ocds-kuma6s-128136

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## Summary

Carmarthenshire County Council, on behalf of the Wales Pension Partnership (WPP), has completed the procurement process for a new regulated third-party operator to manage their ACS sub-fund requirements. The procurement, conducted via an open procedure, sought to replace the existing contract with Waystone Management (UK) Limited, which is set to expire in December 2024. The procurement covered services in the general public sector, specifically focusing on financial and insurance services, and involvement from the eight LGPS funds across Wales. The awarded contract, valued at £14,000,000, was signed on 22 April 2024, with Waystone being appointed as the supplier. This process was in the 'Award' stage as of the latest update on 27 September 2024.

This tender represents a significant opportunity for businesses specialising in financial and insurance services, particularly those capable of providing regulated operator services for large-scale funds. SME financial service firms, investment advisors, and accountancy services providers could find substantial growth prospects through involvement in such tenders. The open procurement process indicates a transparent and competitive environment, encouraging diverse participation. Companies with a strong background in managing local government pensions and interfacing with multiple stakeholders will be well-positioned to benefit from similar opportunities in the future.

## Notice

THIS IS A CONTRACT AWARD NOTICE - NOT A CURRENT OPPORTUNITY The Wales Pension Partnership ("WPP") was established in 2017. The WPP is a collaboration of the eight LGPS funds ("Constituent Authorities")* covering the whole of Wales and is one of eight national LGPS pools. The eight Constituent Authorities had an existing contract with Waystone Management (UK) Limited to provide regulated third party operator services for WPP. The current contract is due to expire in December 2024. The contracting authority (Carmarthenshire County Council), on behalf of each of the Constituent Authorities, conducted a procurement process to appoint a regulated third party operator for WPP's ACS sub fund requirements following expiry of that existing contract. *The eight Constituent Authorities are Carmarthenshire County Council (Host Authority), City and County of Swansea Council, City of Cardiff Council, Flintshire County Council, Cyngor Gwynedd, Powys County Council, Rhondda Cynon Taf County Borough Council and Torfaen County Borough Council. For further information in respect of WPP please see the following link - https://www.walespensionpartnership.org/ Further information can be found in the Procurement Documents at https://etenderwales.bravosolution.co.uk/

### Lot Information

Lot 1

The Wales Pension Partnership ("WPP") was established in 2017. The WPP is a collaboration of the eight LGPS funds ("Constituent Authorities")* covering the whole of Wales and is one of eight national LGPS pools. The eight Constituent Authorities have an existing contract with Waystone Management (UK) Limited to provide regulated third party operator services for WPP. The current contract is due to expire in December 2024. The contracting authority (Carmarthenshire County Council), on behalf of each of the Constituent Authorities, conducted a procurement process to appoint a regulated third party operator for WPP's ACS sub fund requirements following expiry of that existing contract. *The eight constituent authorities are Carmarthenshire County Council (Host Authority), City and County of Swansea Council, City of Cardiff Council, Flintshire County Council, Cyngor Gwynedd, Powys County Council, Rhondda Cynon Taf County Borough Council and Torfaen County Borough Council. For further information in respect of WPP please see the following link - https://www.walespensionpartnership.org/ Further information can be found in the Procurement Documents at https://etenderwales.bravosolution.co.uk/. For further details on the Wales Pension Partnership please visit the following website: https://www.walespensionpartnership.org/

Renewal: The term of the Operator Agreement is for an initial term of five years and three months, followed by an option to extend for up to two further years. At any time prior to the end of the initial five year and three month term WPP may elect to extend the term of the Operator Agreement by up to two years.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Sell2Wales |
| Latest notice | https://www.sell2wales.gov.wales/search/search_switch.aspx?ID=128136 |
| Notice type | OJEU - F3 - Contract Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure |
| Tender suitability | Not specified |
| Awardee scale | SME |
| All stages | Planning, Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 27 Sep 2024 |
| Submission deadline | 20 Nov 2023 |
| Future notice date | 1 Sep 2023 |
| Award date | 22 Apr 2024 |
| Contract period | Not specified |
| Recurrence | 12 months before contract end date |

## Values

| Field | Value |
| --- | --- |
| Tender value | £14,000,000 |
| Lots value | Not specified |
| Awards value | Not specified |
| Contracts value | £14,000,000 |

## Status

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

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | CARMARTHENSHIRE COUNTY COUNCIL |
| Locality | CARMARTHEN |
| Post town | Swansea |
| Postcode | SA31 1JP |
| Country | Wales |
| ITL 1 | TLL Wales |
| ITL 2 | TLL4 Mid and South West Wales |
| ITL 3 | TLL42 South West Wales |
| Local authority | Carmarthenshire |
| Electoral ward | Carmarthen Town North and South |
| Westminster constituency | Caerfyrddin |
| Delivery location | TLL14 South West Wales |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | WAYSTONE |

## 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

## Release History

- 27 Sep 2024 at 00:00 - Award - OJEU - F3 - Contract Award Notice - https://www.sell2wales.gov.wales/search/search_switch.aspx?ID=128136
- 16 Oct 2023 at 00:00 - Tender - OJEU - F2 - Contract Notice - https://www.sell2wales.gov.wales/search/search_switch.aspx?ID=128136
- 17 Jan 2023 at 00:00 - Planning - OJEU - F1 - Prior Information Notice - https://www.sell2wales.gov.wales/search/search_switch.aspx?ID=128136

## Documents

- https://www.sell2wales.gov.wales/Notice/Download/DocumentDownload.aspx?id=JAN424467&idx=1
  17th January 2023 - Schedule 1 - Operator Services
- https://www.sell2wales.gov.wales/Notice/Download/DocumentDownload.aspx?id=JAN424467&idx=2
  17th January 2023 - Schedule 2 - Additional Investment Services
- https://www.sell2wales.gov.wales/search/show/search_view.aspx?ID=JAN424467
  Regulated third party operator services for the Wales Pension Partnership - The Wales Pension Partnership ("WPP") was established in 2017. The WPP is a collaboration of the eight LGPS funds (Constituent Authorities *) covering the whole of Wales and is one of eight national Local Government Pension pools. The eight Constituent Authorities have an existing contract with Link Fund Solutions Limited to provide regulated third party operator services for WPP. The current contract is due to end in December 2024. The contracting authority (Carmarthenshire County Council), on behalf of the WPP, shall be conducting a procurement process to appoint a regulated third party operator for WPP's ACS sub fund requirements following expiry of that existing contract. It is anticipated that if a new provider is appointed, the contract will commence approximately 6 months prior to the expiry of the existing contract to allow for transition planning. The procurement will be conducted in accordance with the Public Contracts Regulations 2015 (or any replacement regulations that may come into force prior to the commencement of the procurement). This PIN is to notify interested suppliers of regulated third party operator services that WPP shall be conducting a market engagement as below: - Date: 9 March 2023 - Time: to be confirmed - Location: Marriot Hotel, Mill Lane, Cardiff, CF10 1EZ The purpose of the market engagement day will be to: (i) provide information to interested suppliers regarding the upcoming procurement procedure; and (ii) to obtain any feedback on the proposed scope of services and proposed service delivery model. The appointed provider shall be required to engage directly with the existing operator's current delegates (including investment advisors, investment managers and providers of transfer agency and fund accountancy services) and depositary for an interim period to facilitate service continuity. Accompanying documents can be found in the general attachments area. Please refer to Schedule 1 and Schedule 2 for information about the proposed scope of services. If your organisation is capable of delivering all of the services and you wish to attend the market engagement day, you must contact the Wales Pension Partnership via email at: walespensionpartnership@carmarthenshire.gov.uk before Friday 17 February 2023 and provide the name of your organisation and the name of the person(s) attending. The eight constituent authorities are Carmarthenshire County Council (Host Authority), City and County of Swansea Council, City of Cardiff Council, Flintshire County Council, Gwynedd Council, Powys County Council, Rhondda Cynon Taf County Borough Council and Torfaen County Borough Council
- https://www.sell2wales.gov.wales/search/show/search_view.aspx?ID=OCT453953
  Wales Pension Partnership Regulator of Operator Services - The Wales Pension Partnership ("WPP") was established in 2017. The WPP is a collaboration of the eight LGPS funds ("Constituent Authorities")* covering the whole of Wales and is one of eight national LGPS pools. The eight Constituent Authorities have an existing contract with Waystone Management (UK) Limited to provide regulated third party operator services for WPP. The current contract is due to expire in December 2024. The contracting authority (Carmarthenshire County Council), on behalf of each of the Constituent Authorities, is conducting a procurement process to appoint a regulated third party operator for WPP's ACS sub fund requirements following expiry of that existing contract. *The eight Constituent Authorities are Carmarthenshire County Council (Host Authority), City and County of Swansea Council, City of Cardiff Council, Flintshire County Council, Cyngor Gwynedd, Powys County Council, Rhondda Cynon Taf County Borough Council and Torfaen County Borough Council. For further information in respect of WPP please see the following link - https://www.walespensionpartnership.org/ Further information can be found in the Procurement Documents at https://etenderwales.bravosolution.co.uk/
- https://www.sell2wales.gov.wales/search/show/search_view.aspx?ID=SEP491530
  Wales Pension Partnership Regulator of Operator Services - THIS IS A CONTRACT AWARD NOTICE - NOT A CURRENT OPPORTUNITY The Wales Pension Partnership ("WPP") was established in 2017. The WPP is a collaboration of the eight LGPS funds ("Constituent Authorities")* covering the whole of Wales and is one of eight national LGPS pools. The eight Constituent Authorities had an existing contract with Waystone Management (UK) Limited to provide regulated third party operator services for WPP. The current contract is due to expire in December 2024. The contracting authority (Carmarthenshire County Council), on behalf of each of the Constituent Authorities, conducted a procurement process to appoint a regulated third party operator for WPP's ACS sub fund requirements following expiry of that existing contract. *The eight Constituent Authorities are Carmarthenshire County Council (Host Authority), City and County of Swansea Council, City of Cardiff Council, Flintshire County Council, Cyngor Gwynedd, Powys County Council, Rhondda Cynon Taf County Borough Council and Torfaen County Borough Council. For further information in respect of WPP please see the following link - https://www.walespensionpartnership.org/ Further information can be found in the Procurement Documents at https://etenderwales.bravosolution.co.uk/

## Notice URLs

- https://api.sell2wales.gov.wales/v1?lang=cy/Notice?id=ocds-kuma6s-128136
- https://etenderwales.bravosolution.co.uk/
- https://etenderwales.bravosolution.co.uk/web/login.shtml
- https://www.carmarthenshire.gov.uk
- https://www.carmarthenshire.gov.wales
- https://www.walespensionpartnership.org/

## 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-kuma6s-128136. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-kuma6s-128136.json.