Multi-Provider Framework Agreement for the Provision of Actuarial, Benefits and Governance Consultancy

A Tender Notice
by NORFOLK COUNTY COUNCIL

Source
Find a Tender
Type
Contract (Services)
Duration
4 year
Value
350M
Sector
BUSINESS
Published
12 Jan 2021
Delivery
To 22 Feb 2025 (est.)
Deadline
22 Feb 2021 10:00

Concepts

Location

NORWICH

Geochart for 15 buyers and 0 suppliers

15 buyers

Description

Norfolk County Council (as administering authority of the Norfolk Pension Fund) on its own behalf and on behalf of the authorities listed in this notice wish to let a multi-provider framework agreement for the provision of Actuarial Services, Governance and Administration Support and Consultancy Services.

Lot Division

1 Actuarial Services

Actuarial services including but not limited to: Actuarial calculations and modelling Providing information and advice Working with stakeholders Reviewing processes, structures and policies Supporting projects and provision of services
2 Benefits Consultancy

Benefits Consultancy Services including but not limited to: Providing information and advice Working with stakeholders Reviewing processes, structures and policies Supporting projects and provision of services
3 Governance Consultancy

Governance Consultancy Services including but not limited to: Providing information and advice Working with stakeholders Reviewing processes, structures and policies Supporting projects and provision of services
4 Funding Risk Advisory Services

Funding Risk Advisory Services including but not limited to: Advice on the integration of investment and funding strategy (along with covenant if applicable) e.g. funding level, by employer type, cashflow profile etc. Asset/Liability modelling to support any recommendations, with potential changes to strategy and rationale. Advice, detailed covenant analysis and general support in assessing covenant risk and proactive engagement with employers in financial difficulties Advice on risk budgets (in terms of ultimate objectives e.g. contributions tolerance) and flexing these as funding levels evolve. Development of monitoring metrics and tools to track progress and keep stakeholders informed of progress against strategic objectives (mindful of risk parameters). Provision and/or interpretation of scenario-based analysis aligned to possible risks and their outcomes. Development of tools/frameworks to facilitate discussion with stakeholders on strategy change e.g. employer paths from entry to exit. Advice and support on policy development and principles for use of ancillary risk management tools.
5 Consultancy Services to Support Specialist Projects

Discrete pieces of specialist, pensions-related work including, but not limited to: LGPS asset management restructuring ("asset pooling") Change management Project management Regulatory and best practice compliance reviews (including, but not limited to, compliance with MHCLG and The Pensions Regulator requirements) Data Quality, Validation Audits and improvement support Support for bulk exercises e.g. trivial commutation data cleansing, frozen refund tracing AVC Reviews and Advice Employer covenant analysis and funding policy implications where appropriate Pensions taxation advice, including support on annual and lifetime allowance calculations Reviews and guidance on structures and their effectiveness

CPV Codes

  • 66519600 - Actuarial services
  • 66523000 - Pension fund consultancy services

Indicators

  • Bids should cover one or more lots.
  • Bids should cover the whole contract.
  • Renewals are not available.
  • Award on basis of price and quality.

Other Information

Contracts awarded under the framework may have a maximum total duration of 10 years. No contract awarded from the framework will be permitted to extend beyond 30 June 2035 and must be awarded during the term of the Framework. Please note that there is no guarantee of work. This procurement will be managed electronically via the Council's eProcurement system. To participate in this procurement, applicants must first be registered on the system at https://in-tendhost.co.uk/norfolkcc Full instructions for registration and use of the system can be found at https://in-tendhost.co.uk/norfolkcc/aspx/BuyerProfiles. Once registered you will be able to see the procurement project under the 'tenders' section and 'express an interest' to view the documentation. If you encounter any difficulties whilst using the system you can contact the InTend support team by phoning +44 8442728810 or emailing mail to: support@in-tend.co.uk?subject=TED (if you at already registered there is no need to re-register). The framework agreement is being let by Norfolk County Council as the contracting authority and can be used by: • Norfolk County Council and its agents • Any successor body to the Council including any company formed by the Council to carry out its Norfolk Pension Fund functions • Any organisation the Council outsources its Norfolk Pension Fund requirements to • Any public body with which the Council enters into pooling arrangements for the provision of its Norfolk Pension Fund services. Norfolk County Council is working jointly with the following authorities, who have expressed an intention to procure services under the framework (including itself): • Norfolk County Council (as Administering Authority of Norfolk Pension Fund). • Wolverhampton City Council (as Administering Authority of the West Midlands Pension Fund) • Environment Agency (as Administering Authority of the Environment Agency Pension fund) • Essex County Council (as Administering Authority of the Essex Pension Fund) • Flintshire County Council (as Administering Authority of the Clwyd Pension Fund) • Hampshire County Council (as Administering Authority of the Hampshire Pension Fund) • Lincolnshire County Council (as Administering Authority of the Lincolnshire County Council Pension Fund) • (The Mayor and Burgesses of the) London Borough of Hackney • Middlesbrough Council (as Administering Authority for Teesside Pension Fund) • South Yorkshire Pensions Authority • Suffolk County Council (As Administering Authority of the Suffolk Pension Fund) • Surrey County Council (as Administering Authority of the Surrey Pension Fund) • Tameside Metropolitan Borough Council (as Administering Authority of the Greater Manchester Pension Fund) In addition to those listed above, the framework may also be used by: • any LGPS administering authorities as defined in the Local Government Pension Scheme Regulations 2013 (SI 2013/2356) (as amended) including the Firefighters' Pension Scheme and Police Pension Schemes and any of their participating employing authorities, or in relation to the LGPS in Scotland, any administering authority and any of their Scheme employers as defined in the Local Government Pension Scheme (Scotland) Regulations 2018 (SSI 2018/141) (as amended) ; • (NILGOSC in Northern Ireland and employing authorities as defined in the Local Government Pension Scheme Regulations (Northern Ireland) 2014 (SRNI 2014/188) (as amended) • the Board of the Pension Protection Fund; (www.ppf.co.uk) • Local Government Association • any other administering authority or organisation of a public sector pension scheme or any public sector body or that requires pension related services; • any common asset pool or collective investment vehicle established by or on behalf of an administering authority or group of administering authorities; or • any bodies, organisations or companies established by them for the purpose of operating on a collective basis.

Reference

Domains