Pensions Covenant Monitoring

Contract summary

Industry

• Financial and insurance services - 66000000

Location of contract

West Midlands

Value of contract

£100,000

Procurement reference

PP15111

Published date

29 January 2016

Closing date

2 December 2015

Contract start date

1 February 2016

Contract end date

31 January 2018

Contract type

Service contract

Procedure type

Other:

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

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Description

The Local Government Pension Scheme (LGPS) is a national scheme administered on a local basis by Wolverhampton City Council as Administrating Authority of the West Midlands Pension Fund (WMPF) and West Midlands Integrated Transport Authority Pension Fund (WMITA), providing current and future benefits for 280,000 scheme members. Both Funds are referred to as 'the Fund' throughout this report.

The Fund has implemented a framework for the monitoring of its participating employers with regards to covenant strength. Whilst this framework constitutes baseline data upon which to assess the high level covenant strength of each employer, there will be instances where more detailed analysis will be required, for instance:

• As an independent review of a specific employer's covenant strength is required
• For "critical cases" whereby the baseline data analysis flags a concern
• As a funding strategy/contribution setting aid
• To support negotiation with specific employers around the triennial actuarial valuation

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Award information

Awarded date

29 December 2015

Contract start date

1 February 2016

Contract end date

31 January 2018

Total value of contract

£100,000

This contract was awarded to 2 suppliers.

Deloitte LLP

PwC LLP

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About the buyer

Address

Civic Centre
St. Peter's Square
Wolverhampton
WV1 1RL
England

Email

tenders@wolverhampton.gov.uk