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

A Contract Award Notice
by NORFOLK COUNTY COUNCIL

Source
Find a Tender
Type
Contract (Services)
Duration
not specified
Value
£35M-£350M
Sector
BUSINESS
Published
10 May 2021
Delivery
not specified
Deadline
n/a

Concepts

Location

United Kingdom:

Geochart for 2 buyers and 27 suppliers

2 buyers

11 suppliers

Description

Norfolk County Council (as administering authority of the Norfolk Pension Fund) on its own behalf and on behalf of the authorities listed in Find a Tender notice 2021/S 000-000612 published on the 12 January 2021 have let a multi-provider framework agreement for the provision of Actuarial Services, Governance and Administration Support and Consultancy Services.

Lot Division

1 Actuarial Services

We have established a multi-provider framework agreement for the provision of Actuarial Services, Governance and Administration Support and Consultancy Services to be available to all LGPS Funds, Investment Pools and other bodies as defined in the Contract Notice, to provide national access to high quality efficient and effective services at the best possible price.
2 Benefits Consultancy

Benefits Consultancy Services including but not limited to:Providing information and adviceWorking with stakeholdersReviewing processes, structures and policiesSupporting projects and provision of services
3 Governance Consultancy

Governance Consultancy Services including but not limited to:Providing information and adviceWorking with stakeholdersReviewing processes, structures and policiesSupporting 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 difficultiesAdvice 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 managementProject managementRegulatory and best practice compliance reviews (including, but not limited to, compliance with MHCLG and The Pensions Regulator requirements)Data Quality, Validation Audits and improvement supportSupport for bulk exercises e.g. trivial commutation data cleansing, frozen refund tracingAVC Reviews and AdviceEmployer covenant analysis and funding policy implications where appropriatePensions taxation advice, including support on annual and lifetime allowance calculationsReviews and guidance on structures and their effectiveness

Award Detail

1 Aon Solutions (Bristol)
  • Actuarial services
  • Reference: 010109-2021-1
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
2 Barnet Waddingham (Birmingham)
  • Actuarial services
  • Reference: 010109-2021-1
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
3 Hymans Robertson (Glasgow)
  • Actuarial services
  • Reference: 010109-2021-1
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
4 Mercer (Liverpool)
  • Actuarial services
  • Reference: 010109-2021-1
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
5 Aon Solutions (Bristol)
  • Benefits Consultancy
  • Reference: 010109-2021-2
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
6 Barnett Waddingham (Birmingham)
  • Benefits Consultancy
  • Reference: 010109-2021-2
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
7 Hymans Robertson (Glasgow)
  • Benefits Consultancy
  • Reference: 010109-2021-2
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
8 Mercer (Liverpool)
  • Benefits Consultancy
  • Reference: 010109-2021-2
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
9 Aon Solutions (Bristol)
  • Governance Consultancy
  • Reference: 010109-2021-3
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
10 Barnett Waddingham (Birmingham)
  • Governance Consultancy
  • Reference: 010109-2021-3
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
11 Hymans Robertson (Glasgow)
  • Governance Consultancy
  • Reference: 010109-2021-3
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
12 Mercer (Liverpool)
  • Governance Consultancy
  • Reference: 010109-2021-3
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
13 Muse Advisory (Hemel Hempstead)
  • Governance Consultancy
  • Reference: 010109-2021-3
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
14 Aon Solutions (Bristol)
  • Funding Risk Advisory Services
  • Reference: 010109-2021-4
  • Value: £35,000,000 [share]
  • Awarded to group of suppliers.
15 Barnett Waddingham (Birmingham)
  • Funding Risk Advisory Services
  • Reference: 010109-2021-4
  • Value: £35,000,000 [share]
  • Awarded to group of suppliers.
16 BDO (Glasgow)
  • Funding Risk Advisory Services
  • Reference: 010109-2021-4
  • Value: £35,000,000 [share]
  • Awarded to group of suppliers.
17 Hymans Robertson (Glasgow)
  • Funding Risk Advisory Services
  • Reference: 010109-2021-4
  • Value: £35,000,000 [share]
  • Awarded to group of suppliers.
18 Mercer (Liverpool)
  • Funding Risk Advisory Services
  • Reference: 010109-2021-4
  • Value: £35,000,000 [share]
  • Awarded to group of suppliers.
19 Pricewaterhousecoopers (Bristol)
  • Funding Risk Advisory Services
  • Reference: 010109-2021-4
  • Value: £35,000,000 [share]
  • Awarded to group of suppliers.
20 Aon Solutions (Bristol)
  • Consultancy Services to Support Specialist Projects
  • Reference: 010109-2021-5
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
21 Barnett Waddingham (Birmingham)
  • Consultancy Services to Support Specialist Projects
  • Reference: 010109-2021-5
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
22 Deloitte (Belfast)
  • Consultancy Services to Support Specialist Projects
  • Reference: 010109-2021-5
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
23 Paymaster 1836 (Crawley)
  • Consultancy Services to Support Specialist Projects
  • Reference: 010109-2021-5
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
24 Government Actuary S Department (London)
  • Consultancy Services to Support Specialist Projects
  • Reference: 010109-2021-5
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
25 Hymans Robertson (Glasgow)
  • Consultancy Services to Support Specialist Projects
  • Reference: 010109-2021-5
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
26 Mercer (Liverpool)
  • Consultancy Services to Support Specialist Projects
  • Reference: 010109-2021-5
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.
27 Pricewaterhousecoopers (Bristol)
  • Consultancy Services to Support Specialist Projects
  • Reference: 010109-2021-5
  • Value: £350,000,000 [share]
  • Awarded to group of suppliers.

Award Criteria

Quality 80
price 20

CPV Codes

  • 66522000 - Group pension services
  • 66519600 - Actuarial services
  • 66523000 - Pension fund consultancy services

Indicators

Other Information

** PREVIEW NOTICE, please check Find a Tender for full details. ** Please note the Value of the Framework Agreement of £350,000,000 is an estimate as there is no guarantee of business.

Reference

Domains