10001 Provision of Actuarial Services

Concepts

• actuarial services
• provision of actuarial services
• glenrothes
• next actuarial valuation
• pension fund shared services
• fife council
• further extension periods
• administration of the local government pension scheme
• pension fund
• national discussions

Location

Fife

Description

Fife Council is responsible for the administration of the Local Government Pension Scheme on behalf of 5 scheduled and 24 admitted bodies. The Fund has 16,247 active members, 10,246 deferred members and 11,989 pensioners. The market value of the Fund as at 23 March 2017 was GBP 2,242.565m. The next actuarial valuation is due as at 31 March 2017. There are currently national discussions around Pension Fund Shared Services, therefore this tender will be issued for one year with option of up to three further extension periods of up to one year to ensure that Fife Council Pension Fund is covered by a contract but is not tied in for a long period should amalgamation be progressed.

Ammendments to Previous Notice

Award Detail

CPV Codes

• 66519600 - Actuarial services

Indicators

• Contract modified due to unforeseen circumstances.

Legal Justification

The effect of the Covid-19 pandemic has had an impact on resources. The Contract still meets the requirements of the Council and there is no change to the scope of the contract.

Other Information

Award Criteria questions can be found in the ITT together with the weightings. Award scoring methodology will be the following: 0 - Unacceptable. Nil or inadequate response. Fails to demonstrate an ability to meet the requirement. 1 - Poor. Response is partially relevant but generally poor. The response addresses some elements of the requirement but contains insufficient/limited detail or explanation to demonstrate how the requirement will be fulfilled. 2- Acceptable. Response is relevant and acceptable. The response addresses a broad understanding of the requirement but may lack details on how the requirement will be fulfilled in certain areas. 3 - Good. Response is relevant and good. The response is sufficiently detailed to demonstrate a good understanding and provides details on how the requirements will be fulfilled. 4 - Excellent. Response is completely relevant and excellent overall. The response is comprehensive, unambiguous and demonstrates a thorough understanding of the requirement and provides details of how the requirement will be met in full. NOTE: To register your interest in this notice and obtain any additional information please visit the Public Contracts Scotland Web Site at http://www.publiccontractsscotland.gov.uk/Search/Search_Switch.aspx?ID=452191. Community benefits are included in this requirement. For more information see: http://www.publiccontractsscotland.gov.uk/info/InfoCentre.aspx?ID=2361 (SC Ref:666670)