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planned
Official procurement procedure

Actuarial Consultancy Services in relation to Pensions

Actuarial services
Pension fund consultancy services
Pension fund management services
+1 more
UK
Published value
£3,000,000
Submission deadline Not published
Lots published1
Procurement Executive Summary
AI & Search Synopsis
Generated from official OCDS record
Tenderline Synopsis: Bank of England: "Actuarial Consultancy Services in relation to Pensions". Published status: planned. Published value: £3,000,000. 1 published lot. Submission deadline not published. See the official notice for participation instructions.
Contracting AuthorityBank of EnglandScope & CategoriesNot publishedSubmission Window
planned
No deadline published
Submission GatewayDirect notice routeLegal Basis & RegimeStandard procurementEstimated Value (exc. VAT)£3,000,000
Bidder Intelligence · Authority Profile: Bank of England
Market Analytics
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Derived from OCDS awards & bid statistics
Published history for Bank of England. These figures describe retained records, not a forecast of bids or a measure of buyer bias.
Published-to-award variance
Not availableInsufficient comparable data
Requires at least 5 comparable procedures
Competition Density
Not availableNo published reports
Bid counts are not published for this buyer
Supplier ConcentrationNo estimate
Insufficient attributable awardsNo concentration estimate available
Payment Terms
Check noticePublished terms
Payment obligations depend on the applicable regime and contract. Consult the official documents.
Coverage: 0 active published awards; 0 bid reports (which may be per lot). Supplier values exclude multi-supplier awards, frameworks and DPS, and use GBP only. They are published award values, not payments. Published-to-award variance compares single-lot, single-award, single-supplier GBP procedures with explicitly non-framework/non-DPS status; increases remain in the average. Unpublished data stays unknown. Awarded suppliers are winners, not all bidders.
Procedure terms
Contracting AuthorityBank of England
Procedure methodNot published
Procurement categoryNot published
Statusplanned
Framework / DPSNot published
CompetitionNot published
Above thresholdNot published
Legal basisNot published
Tender period startsNot published
Clarification deadlineNot published
Electronic submissionNot published
Submission languagesNot published
Published16 Jan 2023, 16:36 GMT
Last source update16 Jan 2023, 16:36 GMT
Recurring procurementNot published
ClassificationActuarial services, Pension fund consultancy services, Pension fund management services, Pension services
Delivery area
UK
OCIDocds-h6vhtk-0397f9
What is being bought
The Bank is looking to conduct an open tender procedure in 2023 for the re-tender of its Actuarial Consultancy Services contract and is planning to tender for a 5-year contract (with an option to extend for up to an additional 5 years). The services to be provided will include performing the Bank's annual IAS19 valuations together with the associated disclosures for the Bank’s annual report and accounts, advising the Bank in its discussions with the Pension Fund Trustees and their actuarial advisers during the triennial valuation for the Fund and during all other significant engagements with the Trustees and providing other general advice to the Bank on Pension related matters as required. The services will also include providing the cost for each of the Bank's CARE pension accrual rates, the flex rates and the opt out rates based on the Pension Fund's investment strategy.
What changed
From the official release history
  1. Published value updated to £3,000,000
    16 Jan 2023, 16:36 GMT
  2. Status changed to planned
    16 Jan 2023, 16:36 GMT
  3. Official notice release published
    16 Jan 2023, 16:36 GMT
  4. Buyer information updated
    16 Jan 2023, 16:36 GMT
Lots and requirements (1)
Published by the contracting authority
  • Lot 1 · #1
    Individual lot title not published
    planned
    Published value£3,000,000
    This PIN is intended to obtain expressions of interest from market suppliers in relation to the described services. The Bank would like to invite interested suppliers to respond to a market sounding questionnaire to assess suppliers’ capability, capacity and appetite to deliver the services required by the Bank. In order to register your interest for this opportunity, and participate in the market sounding questionnaire exercise, please access the relevant materials via the Bank’s eTendering portal (Proactis): https://supplierlive.proactisp2p.com/Account/Login Please note that the contract value included in this PIN is estimated and does not act as a commitment of spend by the Bank. During the life of the contract, the Bank is looking to tender for, it would only be required to pay for the services it uses.
    Contract periodNot published
    EligibilityNot published
    Options / renewalNot published
Timeline
  1. Procedure published
    16 Jan 2023, 16:36 GMT
Commercial outcome and competition
AwardsNo award published
ContractsNo contract published
Bid statisticsNo aggregate bid statistics published
Buyer and organisations in this procedure

Bank of England

Contracting authority GB-FTS-45842
View buyer profile
Documents (0)
Official links; attachments are not copied
No data
No linked documents are published
Related procedures (0)
No data
No related procedures published