---
title: "SBS Pension Services - Actuarial, Administration and Investment"
ocid: "ocds-r6ebe6-0000604091"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-r6ebe6-0000604091"
markdown_url: "https://d3tenders.com/contract/ocds-r6ebe6-0000604091.md"
json_url: "https://d3tenders.com/contract/ocds-r6ebe6-0000604091.json"
source: "Public Contracts Scotland"
current_stage: "Award"
buyer: "UNIVERSITY OF EDINBURGH"
published: "2020-03-09"
---

# SBS Pension Services - Actuarial, Administration and Investment

Buyer: UNIVERSITY OF EDINBURGH  
Current stage: Award  
OCID: ocds-r6ebe6-0000604091

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## Summary

The University of Edinburgh is conducting a public procurement process titled "SBS Pension Services - Actuarial, Administration and Investment," which falls under the education sector. This open tender aims to procure services related to the University's Defined Benefit pension scheme, valued at approximately £450 million and catering to around 6,800 members. The procurement has been initiated with a complete status, with crucial deadlines including the end of the tender period on 10th January 2020 and the award period commencing shortly after. Bidders should be aware of the processes involved in this tender, as the university's procurement method allows for open participation.

This tender presents significant growth opportunities for firms specialising in pension-related services, including actuarial consultancy, administration, and investment advice. Businesses with proven experience in managing complex Defined Benefit pension schemes will find themselves well-positioned to compete for the awarded contracts. The procurement is set to attract a variety of suppliers, especially those proficient in delivering quality service across the mentioned services, as the university prioritises both quality and price in its evaluation criteria.

## Notice

he University of Edinburgh Staff Benefits Scheme is the Defined Benefit pension arrangement for support staff within the University of Edinburgh. Established in 1968, the current market value of the Scheme is circa 450million GBP and has approximately 1800 active, 2000 deferred and 2000 pensioner members.

### Lot Information

Actuarial & Advisory Services

The Scheme Actuary requirements will be to carry out all statutory duties in respect of the Scheme's triennial valuation including but not limited to:- Actuarial valuation of the Scheme at least once every three years by a qualified scheme actuary, All actuarial certification required including rates of contributions, Annual funding updates, highlighting the financial implications of significant events and indicating changes in the level of coverage of the Scheme's liabilities by its assets since the last actuarial valuation and any implications for contribution levels,Actuarial factors used in the administration of the Scheme,Costing and confirmation of effect of any proposed benefit structure changes,Individual calculations as required,Collation of all information required for PPF levy and input of information to the relevant statutory body, and provision of PPF levy estimates,Assistance with contingent asset certification/recertification, Preparation of wording of summary annual report and summary funding statements and review of member documentation, Scheme Trust Deed and Rule, Provision of verbal/written reports for meetings as necessary, Provision of robust advice on regulations, best practice,operational practice and other pension matters, legislative changes and accounting issues and production of annual calculations and advice for University accounting disclosures, e.g. FRS102,Provision of any other such duties as may be required to meet legislative requirements. Tenderers may specify other recommendations for improvements in service delivery or quality.. Additional Consultancy service requirements but not limited to:- Develop and maintain the Scheme's Risk Register document, Attendance of Scheme Actuary at 4 pre-meetings with Chair of Trustee and 4 Trustee Board meetings per annum, Provision of relevant Trustee Training, drafting and/or reviewing documentation for the Scheme including Rule changes and member communications.

Renewal: 24 month

Administration Services

Provision of a highly efficient service to members with robust workflow processes to facilitate a UK defined benefit pension arrangement,Provision of online modelling tools to allow members to produce self-service data for retirement planning,Provision of suitable data transfer mechanisms to allow upload of relevant member data from the University's central HR/payroll system, Provision of accurate and timely standard and ad hoc management information and reports, and other projects or services related to scheme administration, Provision of a dedicated named point of contact available for University staff supported by a team of experienced staff, Provision of a secure UK based administration system for data management with appropriate business continuity processes in place, Provision of a service that complies with the regulatory framework relevant to UK pensions and the SBS pension scheme Rules. Cash Management Operation and maintenance of the Trustee Bank Account including bank reconciliations and processing of payments, Maintaining a cashbook for recording payments and receipts. Pension Scheme Accounting Completion of Statutory Returns, Preparation of Annual Trustee Report and Accounts, Drafting and preparation of Annual Members' Report, Facilitation of Annual Audit. Pensioner Payroll General payroll management, Payslip and P60 production, Statutory changes/returns, Routine pensioner existence checks.

Renewal: 24 months

Investment Consultancy Services

The Trustees require advice on all aspects of scheme investment, specifically investment advice is sought for - Investment strategy development and review, Selection, monitoring, review and reporting on the performance of investment Fund Managers, Attending, supporting and arranging presentations made by the incumbent or prospective investment managers, Quarterly reporting to and attendance at four Investment sub-committee meetings per annum, Reporting on the performance of managers against benchmarks and the overall investment performance of the Scheme, General advice in respect of the scheme's investment activities including Trustee education.

Renewal: 24 months

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Public Contracts Scotland |
| Latest notice | https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=MAR383275 |
| 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 | Large |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 9 Mar 2020 |
| Submission deadline | 10 Jan 2020 |
| Future notice date | Not specified |
| Award date | 9 Mar 2020 |
| Contract period | Not specified |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | Not specified |
| Lots value | Not specified |
| Awards value | Not specified |
| Contracts value | £770,500 |

## Status

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

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | UNIVERSITY OF EDINBURGH |
| Locality | EDINBURGH |
| Post town | Edinburgh |
| Postcode | EH1 1HT |
| Country | Scotland |
| ITL 1 | TLM Scotland |
| ITL 2 | TLM1 East Central Scotland |
| ITL 3 | TLM13 City of Edinburgh |
| Local authority | City of Edinburgh |
| Electoral ward | City Centre |
| Westminster constituency | Edinburgh East and Musselburgh |
| Delivery location | TLM75 City of Edinburgh |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | HYMANS ROBERTSON |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66131100 - Pension investment services
- 66141000 - Pension fund management services
- 66519600 - Actuarial services

## Release History

- 9 Mar 2020 at 00:00 - Award - OJEU - F3 - Contract Award Notice - https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=MAR383275
- 15 Nov 2019 at 00:00 - Tender - OJEU - F2 - Contract Notice - https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=NOV372293

## Documents

- https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=NOV372293
  SBS Pension Services - Actuarial, Administration and Investment - he University of Edinburgh Staff Benefits Scheme is the Defined Benefit pension arrangement for support staff within the University of Edinburgh. Established in 1968, the current market value of the Scheme is circa 450million GBP and has approximately 1800 active, 2000 deferred and 2000 pensioner members.
- https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=MAR383275
  SBS Pension Services - Actuarial, Administration and Investment - he University of Edinburgh Staff Benefits Scheme is the Defined Benefit pension arrangement for support staff within the University of Edinburgh. Established in 1968, the current market value of the Scheme is circa 450million GBP and has approximately 1800 active, 2000 deferred and 2000 pensioner members.

## Notice URLs

- http://
- http://www.ed.ac.uk/schools-departments/procurement/supplying
- https://api.publiccontractsscotland.gov.uk/v1/Notice?id=ocds-r6ebe6-0000604091
- https://www.publictendersscotland.publiccontractsscotland.gov.uk/esop/pts-host/public/pts/web/login.html

## 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-r6ebe6-0000604091. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-r6ebe6-0000604091.json.