---
title: "Pension Support Services"
ocid: "ocds-r6ebe6-0000711838"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-r6ebe6-0000711838"
markdown_url: "https://d3tenders.com/contract/ocds-r6ebe6-0000711838.md"
json_url: "https://d3tenders.com/contract/ocds-r6ebe6-0000711838.json"
source: "Public Contracts Scotland"
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-r6ebe6-0000711838

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## Summary

The Board of Trustees of the Highlands and Islands Enterprise Superannuation Scheme has concluded the procurement process for Pension Support Services. The buying organisation is a Body governed by public law and is located in Inverness, UK. The tender was issued under an open procedure and has reached the award stage, with a contract awarded to Spence & Partners Limited. The contract is active following a signed agreement on 20th April 2023, with a total value of GBP 952,000.

This contract for Pension Support Services presents an opportunity for businesses providing Administration, Investment, Actuarial, and GMP equalisation services. The procurement process aimed at SMEs in the services category offers a potential revenue stream. Businesses should note the contract duration of up to 54 months, inclusive of possible extensions, starting from 1st May 2023. The main procurement criteria include quality and price, with a focus on meeting Prompt Payment Standard Clause. Businesses interested in bidding should ensure compliance with the specified insurance levels and submit their proposals through the designated electronic submission method by the deadline on 24th January 2023.

## 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.. 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 | Public Contracts Scotland |
| Latest notice | https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=APR476817 |
| 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 | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 21 Apr 2023 |
| Submission deadline | 24 Jan 2023 |
| Future notice date | Not specified |
| Award date | 20 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 | Complete |
| Awards status | Not specified |
| 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 00:00 - Award - OJEU - F3 - Contract Award Notice - https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=APR476817
- 2 Dec 2022 at 00:00 - Tender - OJEU - F2 - Contract Notice - https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=DEC465858

## Documents

- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=17
  16th January 2023 - Statement of funding principles
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=16
  16th January 2023 - Schedule of Contributions
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=15
  16th January 2023 - Recovery plan
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=14
  16th January 2023 - HIE Superannuation Scheme - Actuarial Valuation Report
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=1
  2nd December 2022 - Scope of Requirements and Tender Guidance
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=2
  2nd December 2022 - Trustees Pension Newsletter 2022
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=3
  2nd December 2022 - Scheme signed accounts
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=4
  2nd December 2022 - Statement of investment principles
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=5
  2nd December 2022 - Pension scheme booklet
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=6
  2nd December 2022 - Implementation scheme
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=7
  2nd December 2022 - Terms and Conditions
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=8
  2nd December 2022 - HIE CoI Policy
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=9
  2nd December 2022 - Tender Response Form
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=10
  2nd December 2022 - SLA spreadsheet
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=11
  2nd December 2022 - Cyber Security Response Form
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=12
  2nd December 2022 - Pricing Proforma
- https://www.publiccontractsscotland.gov.uk/NoticeDownload/DownloadDocument.aspx?id=DEC465858&idx=13
  2nd December 2022 - Forms for signature
- https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=DEC465858
  Pension Support Services - 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 2022 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 is GBP 100,000 (both excluding VAT - see Scope of Requirements and Tender Guidance for full details).
- https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=APR476817
  Pension Support Services - 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).

## Notice URLs

- http://
- 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.fca.org.uk/firms/financial-services-register
- https://www.hie.co.uk/
- 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-r6ebe6-0000711838. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-r6ebe6-0000711838.json.