Salary Sacrifice Cost Framework for additional voluntary contributions (SSAVCs)

Concepts

• portsmouth
• insurance and pensions
• salary sacrifice additional voluntary contributions
• salary sacrifice
• the first salary sacrifice additional voluntary contribution
• • additional financial services
• voluntary
• ssavcs
• contributions
• sacrifice

Location

In setting up the Framework, the Council will be acting as a Central Purchasing Body under regulation 37 PCR 2015 as the Framework will also be open for access by other UK Public Sector Organisations which include UK Public Sector Bodies, including Central Government, Local Authorities, Health, Police, Fire and Rescue, Education and Devolved Administrations

Description

Portsmouth City Council ('the council') has established a single supplier Framework agreement for the provision of a Salary Sacrifice Additional Voluntary Contribution (AVC) scheme. The Framework will also be open for access by other UK Public Sector Organisations which include UK Public Sector Bodies, including Central Government, Local Authorities, Health, Police, Fire and Rescue, Education and Devolved Administrations. Portsmouth City Council introduced the first Salary Sacrifice Additional Voluntary Contribution (SSAVC) in the UK and currently delivers the service in house. The Authority are now establishing the framework to enable the service to be delivered by an external provider. SSAVCs are currently available to employers with Local Government Pension Scheme (LGPS) and NHS Pension Scheme members (this may be expanded to other organisations at a later date), and it is an employer's decision whether they implement a scheme. The key advantages are that SSAVC members can achieve significant growth figures on their savings whilst at the same time the employer also makes savings. A full list of Authorities able to access the agreement was published in appendix 1 of the tender documents. In setting up the Framework, the Council does not guarantee that any call-offs contracts will be awarded once the Framework is procured, that no form of exclusivity will be created and provides no guarantee of volume of work from either itself of other contracting authorities.

Total Quantity or Scope

The following is a summary of the requirements, for all information and full details please refer to the Specification given in Schedule 1 of the Framework Terms. The Supplier shall provide a service that includes but is not limited to the following: • Advice and guidance for Salary Sacrifice Additional Voluntary Contributions; • Employee engagement and communication across the workforce; • Integrated payroll reporting; • Automated application and amendment processing; • Seamless processes with investment providers; • Onsite employee presentations; • Interactive employee Webinars promoting all aspects of Financial Wellbeing; • Individual one-to-one sessions for employees to receive guidance from experts; • Provision of a web chat service and telephone helplines to support employees; • Calculators to provide employees with retirement impacts and scenarios • Full compliance with HMRC guidelines and Employment law; • Information Security and Audit Trails Optional Services The following "Optional Services" shall also be made available to Participating Authorities for further information refer to the Specification given in schedule 1 of the Framework Terms: • Standard Additional Voluntary Contributions • Investment Advice • Additional Financial Services

Award Detail

Award Criteria

CPV Codes

• 66500000 - Insurance and pension services
• 66100000 - Banking and investment services
• 66520000 - Pension services

Indicators

Other Information

In setting up the Framework, the Council will be acting as a Central Purchasing Body under regulation 37 PCR 2015 as the Framework will also be open for access by other UK Public Sector Organisations which include UK Public Sector Bodies, including Central Government, Local Authorities, Health, Police, Fire and Rescue, Education and Devolved Administrations. The anticipated potential value of services that could be provided via this Framework has been estimated to be £35,640,000, however, no guarantee or commitment as to the initial and future value of any work arising from this Framework can be given. The Framework agreement for the provision of a Salary Sacrifice Additional Voluntary Contribution (AVC) scheme and additional services is for use by Contracting Authorities in the United Kingdom, British Overseas Territories, and Crown Dependencies that exist on 1st June 2023 and which fall into one or more of the following categories: 1. Any of the following: (a) Ministerial government departments; (b) Non ministerial government departments; (c) Executive agencies of government; (d) Non-Departmental Public Bodies (NDPBs), including advisory NDPBs, executive NDPBs, and tribunal NDPBs; (e) Assembly Sponsored Public Bodies (ASPBs); (f) Police forces; (g) Fire and rescue services; (h) Ambulance services; (i) Maritime and coastguard agency services; (j) NHS bodies; (k) Educational bodies or establishments including state schools (nursery schools, primary schools, middle or high schools, secondary schools, special schools), academies, colleges, Pupil Referral Unit (PRU), further education colleges and universities; (l) Hospices; (m) National Parks; (n) Housing associations, including registered social landlords; (o) Third sector and charities; (p) Citizens advice bodies; (q) Councils, including county councils, district councils, county borough councils, community councils, London borough councils, unitary councils, metropolitan councils, parish councils; (r) Public corporations; (s) Public financial bodies or institutions; (t) Public pension funds; (u) Central banks; and (v) Civil service bodies, including public sector buying organisations. 2. Those listed and maintained by the Government on their website at https://www.gov.uk/government/organisations or any replacement or updated web-link. 3. Those listed and maintained by the Office of National Statistics (ONS) at https://www.ons.gov.uk/economy/nationalaccounts/uksectoraccounts/datasets/public... or any replacement or updated web-link. 4. Those bodies in England, Wales or Northern Ireland which are within the scope of the definition of "Contracting Authority" in regulation 2(1) of the Public Contracts Regulations 2015 (PCR) and/or Schedule 1 PCR and The Procurement (Scotland) Regulations 2016 or any replacements.