Published date: 31 March 2015

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


Closing: 28 April 2015

Contract summary

Industry

  • Financial and insurance services - 66000000

  • Pension services - 66520000

Location of contract

London

Value of contract

£0

Procurement reference

London LGPS CIV - ACS Operator

Published date

31 March 2015

Closing date

28 April 2015

Contract start date

5 June 2015

Contract end date

6 June 2016

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?

No

Contract is suitable for VCSEs?

No

Description

Across London there are thirty three local authority pension funds which are part of the Local Government Pension Scheme (LGPS), a national scheme administered on a local basis.

The LGPS funds are governed by the Superannuation Act 1972 and are administered in accordance with the following secondary legislation:
• the LGPS Regulations 2013
• the LGPS (Management and Investment of Funds) Regulations 2009

Currently the thirty three funds (32 London boroughs and the City of London Corporation) each manage their pension investments independently. In the future, the administering authorities have decided to collaborate on the management and investment of their pension fund assets to deliver efficiencies, economies of scale and improvement in operations.

The most appropriate vehicle for creating numerous benefits, whilst retaining local accountability and decisions making by the individual funds is the proposed Collective Investment Vehicle (CIV), structured as an Authorised Contractual Scheme (ACS) with an authorised ACS Operator ('the Operator', London LGPS CIV Ltd.) and fund

London Councils is seeking the provision of supporting services to the Operator in its role as the FCA regulated body responsible for the ACS Fund for a period of 12 months from the start of service delivery. The CIV is still in its implementation phase and at this point it is not possible to be precise about when service delivery is likely to begin, but in broad terms we expect it to be in the autumn of 2015.

However, it is anticipated that the successful candidate will wish to be involved in the implementation phase prior to the start of service delivery.

More information

Attachments

Additional text

London Councils is facilitating this procurement for and on behalf of London LGPS CIV Ltd (the Operator), but any resulting contract will be between London LGPS CIV Ltd and the successful Candidate.

Tender responses and accompanying documents are to be received by 28 April 2015, 12: 00 noon (BST). All responses should provide 2 separate attachments, those being a response detailing the Background Information and Suitability and a separate Service Requirements Proposal.

Tender responses and any questions about the procurement and/or this tender should be submitted via email to

Pensions.CIV@londoncouncils.gov.uk and copying in both hugh.grover@londoncouncils.gov.uk and frederick.fuller@londoncouncils.gov.uk .

Queries must be received by London Councils before 12:00 noon (BST) on 18 April 2015. London Councils may not respond to queries submitted after this date.

Award information

Awarded date

29 May 2015

Contract start date

1 September 2015

Contract end date

31 August 2018

Total value of contract

£200,000

This contract was awarded to 1 supplier.

Capita

Address

40 Dukes Place, London, E14 5NT

Reference

None

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Address

London Councils
59½ Southwark Street
London
SE1 0AL
England

Email

Pension.CIV@londoncouncils.gov.uk