Published date: 27 March 2018

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


Closing: 23 January 2017

Contract summary

Industry

  • Insurance and pension services - 66500000

Location of contract

West Midlands

Value of contract

£200,000

Procurement reference

PP16158

Published date

27 March 2018

Closing date

23 January 2017

Contract start date

1 June 2017

Contract end date

31 May 2021

Contract type

Service contract

Procedure type

Restricted procedure

A two-stage procedure, where the first stage is used to select suppliers, who are then invited to bid in the second stage.

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

Description

The West Midlands Pension Fund is looking to procure an insurance policy to cover the strain cost passed onto participating employers as a result of member ill health early retirement. In the event of an ill-health early retirement in the LGPS, additional liabilities arise in the Fund due to: a) early payment of accrued pension; and b) enhancement of the pension in accordance with LGPS Regulations. There are three tiers of ill health outlined in the Regulations, however only two of these involve enhancement (as below) and it is for these tiers that the Fund is wishing to obtain insurance. Tier 1 - The active member of the scheme is expected to never return to work. The member will receive their accrued pension plus 100% of their expected future service as an 'enhancement' Tier 2 - The active member of the scheme is expected to be unable to work for at least three years. The member will receive their accrued pension plus 25% of their expected future service as an 'enhancement'

More information

Previous notice about this procurement

WMPF Ill Health Insurance

  • Opportunity
  • Published 27 March 2018, last edited 27 March 2018

Attachments

Links

Additional text

Any questions need to be asked via the e-tendering portal at www.wolverhamptontenders.com. All submissions should also be made at this site.

Please ensure you allow sufficient time for submitting your response.

This procurement has been abandoned.

Award information

Awarded date

27 March 2018

Contract start date

1 June 2018

Contract end date

31 May 2021

Total value of contract

£0

This contract was awarded to 1 supplier.

PROCUREMENT ABANDONED

Address

PROCUREMENT ABANDONED

Reference

None

Supplier is SME?

No

Supplier is VCSE?

No

Additional details

PROCUREMENT ABANDONED

About the buyer

Contact name

Jessica Prince

Address

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

Email

jessica.prince@wolverhampton.gov.uk