Published date: 29 March 2018

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 19 January 2018

Contract summary

Industry

  • Pension fund management services - 66141000

  • Pension services - 66520000

Location of contract

West Midlands

Value of contract

£0 to £180,000

Procurement reference

2018.01

Published date

29 March 2018

Closing date

19 January 2018

Contract start date

19 February 2018

Contract end date

18 February 2040

Contract type

Service contract

Procedure type

Other: Non-OJEU Tender Process

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

Description

NMiTE is a new university level institution which is being set up to teach engineering in a radical new way. It has three key aims: to educate more home-grown UK engineers with the skills employers need through a partnership model designed by academics, students, industry, innovators and international partners; to expand the diversity of the UK's engineering talent pool by aiming for a 50:50 gender balance; and • to be the UK's innovation lab for change in engineering education. NMiTE aims to enrol its first fee paying students in 2020 at a purpose-built city centre campus in Herford and plans to be educating 5,000+ students by 2032. NMiTE plans to recruit employees to support the increasing student numbers, such that the total number of staff is expected to exceed 500 by the time student numbers achieve 5,000.
NMiTE will use the New Scheme to meet its auto-enrolment obligations in respect of all existing employees and new hires. NMiTE requires that the DC Pension Scheme takes the form of a Group Personal Pension Plan or Master Trust, with a single category structure (uniform basis for all members). In respect of the investment arrangement, a suitable off-the-shelf, governed default is preferred. To ensure consistency in respect of management of the pension scheme and as initially the size of the scheme will be small, growing in proportion with staff numbers, the contract has no set end date. NMiTE has set a maximum value in relation to the contract, consistent with its standing order limits for tender processes of £180,000. However, NMiTE reserves the right to re-tender for Provider Management Services prior to the maximum contract value being reached.

More information

Previous notice about this procurement

Defined Contribution Pension Scheme Provider

  • Opportunity
  • Published 12 January 2018, last edited 12 January 2018

Additional text

This process was managed by Barnett Waddingham LLP on behalf of NMiTE. Details can be obtained from the above contact point. To have expressed an interest in this procurement in respect of GPPP provision, potential providers must be a UK based provider of workplace personal pension schemes, regulated by the Financial Conduct Authority (and Prudential Regulation Authority where applicable) and have an independent governance committee that has assessed the GPPP on offer. To have expressed an interest in this procurement in respect of master trust provision, potential providers must have qualified for inclusion in the Pension Regulator's list of approved master trust providers.

Award information

Awarded date

14 February 2018

Contract start date

19 February 2018

Contract end date

18 February 2040

Total value of contract

£180,000

This contract was awarded to 1 supplier.

Aviva Life & Pensions UK Limited

Address

Wellington Row, York, YO90 1W

Reference

Companies House number: 3253947

Value of contract

£180,000

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Contact name

Jo Parkes-Newton

Address

The Shirehall
Union Street
Hereford
HR1 2HX
England

Telephone

07590266515

Email

jo.parkes-newton@nmite.org.uk

Website

http://nmite.org.uk/