Published date: 29 September 2023
Last edited date: 29 September 2023
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
Insurance and pension services - 66500000
Location of contract
England
Value of contract
£200,000,000
Procurement reference
WIRLC001-DN679583-07659524
Published date
29 September 2023
Closing date
31 October 2023
Closing time
12pm
Contract start date
4 February 2024
Contract end date
30 September 2856
Contract type
Service contract
Procedure type
Other
Contract is suitable for SMEs?
No
Contract is suitable for VCSEs?
No
Description
Buy-in of all pensions in payment and other members who are no longer actively accruing benefits within the Merseyside Pension Fund which are attributed to Arriva Merseyside Limited
Wirral Council in its capacity as the Administering Authority of the Merseyside Pension Fund (the "Fund") wishes to purchase a bulk annuity to be held as a long term investment in respect of all pensions in payment (except Children's pensions) and all other members who are no longer actively accruing benefits within the Fund which are attributed to Arriva Merseyside Limited.
The Fund is a Local Government Pension Scheme ("LGPS") and is therefore subject to additional constraints when conducting competitive broking exercises. We have described these in more detail in the Explanatory Note issued with the Selection Questionnaire.
The LGPS is a non-sectionalised, multi-employer Scheme and the focus of this project is a sole employer within the Fund. The Administering Authority have all the necessary power to unilaterally undertake the purchase of the bulk annuity, however the project is being commenced with the full support of the Employer and therefore the Client and the Employer have jointly agreed to pursue a buy-in strategy in relation to deferred and pensioner members of the Fund as the next step in the Employer's de-risking journey.
Please note due to the nature of the contract the exact contract length cannot be determined, to accommodate this the contract length for the purposes of this notice has been set at 9999 months. The contract will have no fixed end date
Timeframe Task Description
September 2023 Contract Notice published Contract Notice published on Find a Tender Service and SQ made available to prospective bidders
11 September 2023 to 16 October 2023 Introductory calls Bidders are invited to request to attend one introductory conference call with Mercer as advisors to the Authority.
31 October 2023 SQ submission deadline Bidders are required to submit their SQ responses by no later than 12:00 on this date
7 November 2023 SQ outcome Bidders will be notified in writing of the outcome of the SQ process
8 November 2023 RFP Round 1 released The RFP will be released via CHEST to all bidders who met the SQ requirements.
15 January 2024 RFP Round 1 response deadline Bidders must submit a complete response to the RFP via CHEST by 12:00 on this date.
29 January 2024 Clarifications As necessary, questions of clarification may be raised with you by Mercer or the Authority via CHEST in order that an appropriate score can be awarded.
12 February 2024 RFP Round 2 released All bidders will be provided with feedback on their scores and 3 bidders will be invited to submit a best and final proposal.
12 March 2024 RFP Round 2 response deadline Bidders must submit a complete response to the RFP via CHEST by 12:00 on this date.
26 March 2024 Clarifications As necessary, questions of clarification may be raised with you by Mercer or the Authority via CHEST in order th
More information
Previous notice about this procurement
- Opportunity
- Published 29 September 2023
Additional text
-
For the tender opportunity, all documentation, expressions of interest, questions and submissions please visit Th Chest portal at http://www.the-chest.org.uk
About the buyer
Address
Wallasey Town Hall
Brighton Street
Wallasey
CH44 8ED
England
Telephone
+441516062002
Website
Share this notice
Closing: 31 October 2023, 12pm
All content is available under the
