Pension Scheme (Defined Contribution) and Employee Benefits
A Tender Notice
by NORTH WESTERN UNIVERSITIES PURCHASING CONSORTIUM
- Source
- Find a Tender
- Type
- Framework (Services)
- Duration
- 7 year
- Value
- £-£19M
- Sector
- BUSINESS
- Published
- 13 Feb 2025
- Delivery
- 01 May 2025 to 30 Apr 2032
- Deadline
- 17 Mar 2025 13:00
Concepts
Location
United Kingdom:
1 buyer
Description
NWUPC in conjunction with UCEA has a requirement to establish a Framework Agreement for the provision of a Defined Contribution Master Trust Pension Scheme and Employee Benefits including Group Life Assurance, Group Income Protection and the provision of a customisable benefits platform for the management of employee benefits through a single centralised portal. NWUPC is establishing the Framework Agreement as a central purchasing body for itself and its Members (Other Contracting Bodies (OCB)). NWUPC is managing this procurement process in accordance with the Public Contracts Regulations 2015 (the “Regulations”) on behalf of members of APUC, HEPCW, LUPC, NEUPC, NWUPC and SUPC. The Framework Agreement will be split into three lots as follows: Lot 1 – Defined Contribution Pension Scheme (Master Trust) Lot 2 – Group Life Assurance & Group Income Protection Lot 3 – Flexible Benefits Platform
Lot Division
| 1 | Pension Scheme (Defined Contribution) Master Trust NWUPC is seeking to set up a section in a pre-existing authorised master trust as a tailored solution for Member Institutions of the participating consortia that can be used to meet (or exceed) automatic enrolment requirements as a minimum, to be available for H2 2025 eligibility. The scheme will be available to Member Institutions to enrol staff as defined by each Employer into the DC arrangement. This may include staff employed by the Member Institution or through a wholly owned subsidiary across both academic and academic-related posts and/or professional services. This may include new employees only or existing employees. The new DC arrangement could also be made available to staff in existing Defined Benefit schemes should they choose to opt-out of the existing scheme subject to the rules and regulations of the DB scheme. Award Criteria
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| 2 | Group Life Assurance & Group Income Protection The provision of Group Life Assurance and Group Income Protection to staff of participating consortia Member Institutions as an employee benefit. It will be at the discretion of the Member Institution which of the available policies they elect to take-up. This lot does not include a requirement for any insurance broking services. Award Criteria
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| 3 | Flexible Benefits Platform The provision of a largely off the shelf flexible benefits platform for the management of employee benefits through a single centralised online platform that is customisable to the requirements of the participating consortia member institutions. The platform will offer a range of benefits that shall be available to employees who meet any relevant qualifying criteria established by the member institution. This will cover employees across the UK and may include employees overseas. The platform must be configurable and facilitate the incorporation of existing employee benefits and offer access to benefits from reputable providers. This lot covers the provision of all software and any associated licensing. Potential Services include, but are not limited to system implementation and migration, and professional services around the range of benefits the member institution may seek to make available to employees. Award Criteria
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Renewal Options
This Framework Agreement will commence on 1st May 2025 for an initial period of five years until 30th April 2030 with the option to extend the Agreement for two years until 30th April 2032 subject to satisfactory Economic Operator performance.
CPV Codes
- 66520000 - Pension services
- 66131100 - Pension investment services
- 66141000 - Pension fund management services
- 66522000 - Group pension services
- 66523100 - Pension fund administration services
- 66510000 - Insurance services
- 66511000 - Life insurance services
- 66512000 - Accident and health insurance services
- 48000000 - Software package and information systems
- 75310000 - Benefit services
- 79900000 - Miscellaneous business and business-related services
Indicators
- This is a one-off contract (no recurrence)
- Renewals are available.
Legal Justification
See section VI Additional Information
Other Information
** PREVIEW NOTICE, please check Find a Tender for full details. ** This framework agreement is offered on behalf of the UK Higher and Further Education Sector. The sector currently has access to a variety of Defined Benefit schemes and some institutions have existing DC Scheme provision. Engagement with the sector in scoping the agreement indicated interest in a centrally procured solution from 50 institutions. 10 have an immediate requirement to implement this within the first 12 months. The other interested institutions indicated varying degrees of readiness to implement the scheme throughout the stated duration of the agreement. Participating institutions are seeking value for money through a centralised procurement which leverages economies of scale. This is best achieved through a contract duration that facilitates scheme participation by all interested institutions, maximising assets and offering stability to the appointed provider to deliver competitive rates for the sector. The agreement duration recognises this and the lengthy governance and implementation processes that accompany the implementation of a DC Scheme in the sector. Lots 2 and 3 are complementary provisions to support the implementation of a Defined Contribution scheme within the sector and, as such, should be co-terminus. As value for money is a driver of the procurement, the Authority reserves the right to review the competitiveness of the scheme in any decision to extend. The following organisations have committed to this procurement and intend to utilise the Framework Agreement as soon as possible after award. As such, the members and their wholly owned subsidiaries of the following Consortia may wish to utilise the Agreement and should have access at any point: NWUPC https://www.nwupc.ac.uk/our-members APUC http://www.apuc-scot.ac.uk/#!/members HEPCW https://www.hepcw.ac.uk/members/ LUPC https://www.lupc.ac.uk/member-list NEUPC http://www.neupc.ac.uk/our-members SUPC https://www.supc.ac.uk/about-us/our-members/our-members At some point during the life of the Framework Agreement, higher education providers registered by the Office for Students at the following link (OfS Register) may wish to utilise the Agreement and should have access at any point with the permission of NWUPC. This Agreement is not intended to replace any current Agreements that either participating or non-participating Institutions may already have in place. The following individual Organisation (not its individual members) is also eligible to join the Framework Agreement: Universities and Colleges Employers Association http://www.ucea.ac.uk/
Reference
- ocds-h6vhtk-04b383
- FTS 005038-2025