Published date: 12 January 2018
Last edited date: 12 January 2018
This notice was replaced on 29 March 2018
This notice does not contain the most up-to-date information about this procurement. The most recent notice is:
Awarded contract (published 29 March 2018)
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
Pension fund management services - 66141000
Group pension services - 66522000
Location of contract
West Midlands
Value of contract
£0 to £180,000
Procurement reference
2018.01.ITQ
Published date
12 January 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?
Yes
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 homegrown 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 currently has 10 employees (mainly comprising of the senior leadership team), all of whom will be auto-enrolled into the New Scheme when it commences.
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. Further details can be obtained from the tender documents.
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
Additional text
-
This process is to be managed by Barnett Waddingham LLP on behalf of NMiTE. Details can be obtained from the above contact point.
To express 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 express 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.
The tender process will include the interview of shortlisted potential providers. Further process details are included in the tender documents.
About the buyer
Contact name
Jo Parkes-Newton
Address
The Shirehall
Union Street
Hereford
HR1 2HX
England
Telephone
07590266515
Website
Share this notice
All content is available under the
