Published date: 27 October 2021
This notice was replaced on 16 December 2021
This notice does not contain the most up-to-date information about this procurement. The most recent notice is:
Awarded contract (published 16 December 2021)
Closed opportunity - This means that the contract is currently closed. The buying department may be considering suppliers that have already applied, or no suitable offers were made.
Contract summary
Industry
Financial and insurance services - 66000000
Location of contract
England
Value of contract
£160,000
Procurement reference
DORST001-DN576945-49186689
Published date
27 October 2021
Closing date
18 November 2021
Closing time
11:59pm
Contract start date
1 January 2022
Contract end date
31 December 2025
Contract type
Service contract
Procedure type
Open procedure
Any interested supplier may submit a tender in response to an opportunity notice.
Contract is suitable for SMEs?
Yes
Contract is suitable for VCSEs?
Yes
Description
Dorset Council ("the Council") is the administering authority for the Local Government Pension Scheme (LGPS) in Dorset which provides pensions and other benefits for employees of the Council, other local authorities and a range of other organisations within the county. The LGPS is a national scheme administered locally and is a 'defined benefit' scheme which means that benefits for scheme members are calculated based on factors such as age, length of membership and salary. Member benefits are not calculated on the basis of investment performance as they would be in a 'defined contribution' scheme.
The Council has delegated its responsibilities as an administering authority to the Pension Fund Committee, which consists of five elected members of the Council, three elected members of Bournemouth, Christchurch and Poole Council, and one scheme member representative nominated by the trade unions.
Administering authorities are required to maintain a pension fund for the payment of benefits to scheme members funded by contributions from scheme members and their employers, and from returns on contributions invested prior to benefits becoming payable. Contribution levels for scheme members are set nationally, and contribution levels for scheme employers are set locally by actuaries engaged by administering authorities.
As at 30 June 2021 the value of the Dorset County Pension Fund ("the Fund") was approximately £3.5 billion.
The Council is seeking an organisation that can provide an advisory service to its Pension Fund Committee and officers on all matters relating to the investments of the Dorset County Pension Fund.
More information
About the buyer
Contact name
Tom Matthews
Address
Dorset Council
County Hall, Colliton Park
Dorchester
DT1 1XJ
England
Telephone
+44 1305221265
Thomas.Matthews@dorsetcouncil.gov.uk
Website
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