Official UK procurement notice
Pension Administrative Services · UK public procurement notice
Authority: BANK OF ENGLAND
What is being bought
Published requirement descriptionAs part of its overall reward package for Bank employees, the Bank offers a non-contributary defined benefit pension as a core benefit. The Bank is looking to appoint a supplier who has the capability and capacity to provide Pension Administrative Services. The exact supply detail is set out in the Statement of Requirements.
The Term is 6 + 5 years. The value is estimated at £9M - £14M.
- How the procedure runs: Steps to be followed; 1) Publish PSQ document. PSQ to be returned by 12:00 on 29th October 2026. 2) PSQ evaluation including qualitative assessment. Top 5 scoring suppliers shortlisted, following first phase evaluation / moderation. Unsuccessful bidders notified. Shortlist of 5 progress to ITT. 3) ITT submission at 12:00 on 8th February 2027 and initial evaluation. 4) Then supplier site visits and presentations from 15th March (ITT scores can decrease based on supplier validation exercise of Bank focus areas). Final Moderation. Contract Award July 2027. Reduced tendering period is not being used. Whilst every effort will be taken to meet published dates, they are indicative and may be subject to change.
CPV: Pension fund administration services · Pension fund management services
The lotProcurement structure
single lot · value publishedLot #1RenewalPublished value£11,200,000
- Economic & financial standing
Financial Capacity: Suppliers would be asked to demonstrate financial stability and capacity to fulfil the contract.
- Technical & professional ability
The Bank will assess PSQ Responses to confirm compliance with the Conditions of Participation, including financial capacity, legal and contractual capability, cyber, privacy and technical ability requirements. The Bank will also verify that Potential Suppliers, Associated Persons and Intended Sub-Contractors are not subject to debarment, exclusion or discretionary exclusion grounds. All Conditions of Participation will be assessed against the applicable minimum requirements, with non-compliant submissions excluded from further participation. For compliant submissions, the scored technical ability criteria set out in PSQ questions will be evaluated and moderated by the Bank to establish the ranking of Potential Suppliers. These technical ability questions are the sole scored element of the PSQ stage and will be used to determine progression to the next stage of the procurement process.
What it takes to wini
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Evaluation split and conditions of participation as published; the tender pack may add morei
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Published award criteria (3)
- Quality
- Price
- Social Value
- Economic & financial standing
Financial Capacity: Suppliers would be asked to demonstrate financial stability and capacity to fulfil the contract.
- Technical & professional ability
The Bank will assess PSQ Responses to confirm compliance with the Conditions of Participation, including financial capacity, legal and contractual capability, cyber, privacy and technical ability requirements. The Bank will also verify that Potential Suppliers, Associated Persons and Intended Sub-Contractors are not subject to debarment, exclusion or discretionary exclusion grounds. All Conditions of Participation will be assessed against the applicable minimum requirements, with non-compliant submissions excluded from further participation. For compliant submissions, the scored technical ability criteria set out in PSQ questions will be evaluated and moderated by the Bank to establish the ranking of Potential Suppliers. These technical ability questions are the sole scored element of the PSQ stage and will be used to determine progression to the next stage of the procurement process.
- Price carries 30 of 100 points: a 10% discount moves about 3 points. The method statement decides this lot, not the discount.
- Turnover usually expected at this size: about £3,729,927 (twice the annual value).
Price arithmetic assumes straight proportional scoring; the tender pack may use another formula. Turnover is an indicative market norm (≈2× annual value), not a published condition.
Competition analysis · published record, not a forecast of who will bid
How BANK OF ENGLAND buys Pension services (CPV 6652), and who usually turns up
BANK OF ENGLAND’s own published record, next to the published market for the same work. Frameworks and DPS are kept out: they attract a different number of bids. Whole-market view: Pension services (CPV 6652) →
How the contest usually goes
Winner shares use published awards; bid and price charts use contested lots.
i
How often small and medium firms win.
Share of awards where the winner’s size is known.
The counts under this question show how many awards have a known supplier size.
No small-firm winners recorded among this authority’s published awards in this sample.
i
How often local firms win similar work.
Winners with a registered address in the delivery region, out of awards with a known address.
Here, local means registered in Greater London (authority’s region).
A local branch does not count if the registered address is elsewhere.
Most of this buyer’s recorded winners are registered outside Greater London.
i
How long buyers here take to decide after bids close.
Middle value in days from the deadline to the first award notice, on competitions that published both dates.
Only decided tenders count, so slow ones still waiting are not in.
Half of these awards were announced within 111 days of the bid deadline.
i
How often work is awarded with no recorded rival.
Direct awards and tenders where every published lot count shows one bid.
Both shares are minimums: some awards have no bid count.
Thin markets produce this too; it is not proof of a tailored specification.
Direct awards or one recorded bid are common here. Check the route before spending time on a bid.
How many bids did past lots attract?
i
How many bids past lots received.
Each colour is a bid-count range. Only competed lots with a published count are included.
Past bids do not predict this tender.
1 bid17% / 27%
2–30% / 27%
4–667% / 18%
7+17% / 27%
How did awards compare with estimates?
i
Where winning prices landed against estimates.
Each colour shows awards below, close to or above the published estimate, one lot at a time.
Past prices are a guide, not a bid price.
Below estimate33%
Within ±2%50%
Above estimate17%
Assess each lot i
What past awards tell you about each lot.
See the forecast, this buyer’s earlier suppliers and firms with relevant wins.
No supplier is confirmed as a bidder.
i
What past awards tell you about each lot.
See the forecast, this buyer’s earlier suppliers and firms with relevant wins.
No supplier is confirmed as a bidder.
Open a lot for its forecast, this buyer’s previous supplier and possible competitors, from published award history, not a bid list
Lot #1CPV 6652Published estimate£11m
i
How many bids this lot may attract.
The forecast uses similar past competitions. The bar shows either that forecast or past bid counts; the line below says which.
Each lot shows its own forecast based on its own category; forecasts for different lots of the same notice are not comparative.
A forecast, not a list of bidders.
1 bid11%
2–321%
4–662%
7+6%
i
Where the award price may land.
The forecast uses similar awards and the buyer’s estimate. The band covers the middle half of likely prices.
Based on 1 comparable award. Each lot reflects its own category; forecasts for different lots of the same notice are not comparative.
A statistical guide from past awards, not a price to bid.
Middle 50%£10m–£11m
Estimate£11m
Who has supplied this buyer on similar work? i
Who has done similar work for this buyer.
Past contracts are matched by buyer, title and type of work.
A past supplier may not bid again.
i
Who has done similar work for this buyer.
Past contracts are matched by buyer, title and type of work.
A past supplier may not bid again.
| Supplier | This buyer’s earlier contract | Lot | Award value | Why listed |
|---|---|---|---|---|
| XPS Pensions Consulting LimitedLive contract | Pension Servicesruns to Nov 2028 | — | £62k | Matched as the earlier contract |
Who could compete for this lot? i
Who could compete for this lot?
Firms with relevant past wins. On a framework, we show firms on that agreement.
None is confirmed as a bidder.
i
Who could compete for this lot?
Firms with relevant past wins. On a framework, we show firms on that agreement.
None is confirmed as a bidder.
| Supplier | Won in this category | Live contracts | Award vs estimate |
|---|---|---|---|
| £62k2 awards in 36m · last 12 months ago | 1 live · £62k iPublic contracts this supplier still holds. Its awards whose published end date is still in the future, with their values. Many contracts publish no end date, so this is a floor, not the whole book. Unexpired says nothing about spare capacity. | no comparable pairs | |
Hymans RobertsonLarge | £7.5m14 awards in 36m · last this month | 8 live · £4.5m iPublic contracts this supplier still holds. Its awards whose published end date is still in the future, with their values. Many contracts publish no end date, so this is a floor, not the whole book. Unexpired says nothing about spare capacity. | 45% below n=1 |
| £5.7m4 awards in 36m · last 2 months ago | 2 live · £8.3m iPublic contracts this supplier still holds. Its awards whose published end date is still in the future, with their values. Many contracts publish no end date, so this is a floor, not the whole book. Unexpired says nothing about spare capacity. | no comparable pairs | |
| £1.4m8 awards in 36m · last 1 months ago | 5 live · £594k iPublic contracts this supplier still holds. Its awards whose published end date is still in the future, with their values. Many contracts publish no end date, so this is a floor, not the whole book. Unexpired says nothing about spare capacity. | 5% below n=2 | |
| £6.3m4 awards in 36m · last 3 months ago | 1 live · £750k iPublic contracts this supplier still holds. Its awards whose published end date is still in the future, with their values. Many contracts publish no end date, so this is a floor, not the whole book. Unexpired says nothing about spare capacity. | no comparable pairs |
About this data
- Source. Official UK public procurement notices (Find a Tender), reused under the Open Government Licence v3.0. New notices arrive through the day; the figures are rebuilt nightly.
- Two views, kept apart. The authority’s own track record and the wider market for the same kind of work sit side by side and are never mixed. Where the local picture is too thin, a figure widens to a broader market and says which one it used.
- Forecasts are labelled. The price forecast and its range, possible competitors and the earlier-work matches are our estimates from past awards: not published facts, not win chances and not price advice. Official notices do not say who is bidding.
- Every figure shows what it rests on. Not every notice publishes a bid count, a value or a delivery region, so each figure carries the number of records behind it, and one built on few records is marked as such. The on a figure explains it; the counting rules are in the methodology. Spotted something wrong? Tell us.
What this replaces i
Who has done similar work for this buyer.
Past contracts are matched by buyer, title and type of work.
53% title match.
A past supplier may not bid again.
i
Who has done similar work for this buyer.
Past contracts are matched by buyer, title and type of work.
53% title match.
A past supplier may not bid again.
The prior contract this notice most likely re-tenders · matched by title and category (53% title match), the holder is not guaranteed to re-bid
Pension Services — held by XPS Pensions Consulting Limited; the published contract ends 30 Nov 2028.
Procedure terms & legal framework
From the official record- Procedure method
- Competitive flexible procedure
- Legal basis
- UKPGA · 2023/54 Procurement Act 2023
- Procurement category
- Services
- Notice status
- Open for tender
- Procurement threshold
- Above threshold (FTS publication)
- Regulatory regime
- Standard
- Commercial structure
- Stand-alone contract (no framework)
- Competition type
- Competitive procedure
- GPA / WTO covered
- Unspecified in notice
- Recurring procurement
- Unspecified in notice
- First published
- 4 Mar 2026, 14:54 GMT
- Last source update
- 6 Oct 2026, 15:30 BST
- Award evaluation window
- Submission end – 1 Jul 2027
- Authority reference
PROC/606- FTS notice number
2026/S 000-094375- Latest notice
- Tender notice (UK4)
- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-066245Find a Tender
- How it runs
Steps to be followed;
- Publish PSQ document. PSQ to be returned by 12:00 on 29th October 2026.
- PSQ evaluation including qualitative assessment. Top 5 scoring suppliers shortlisted, following first phase evaluation / moderation. Unsuccessful bidders notified. Shortlist of 5 progress to ITT.
- ITT submission at 12:00 on 8th February 2027 and initial evaluation.
- Then supplier site visits and presentations from 15th March (ITT scores can decrease based on supplier validation exercise of Bank focus areas).
Final Moderation. Contract Award July 2027.
Reduced tendering period is not being used. Whilst every effort will be taken to meet published dates, they are indicative and may be subject to change.
How to participate & submission route
Official notice Submit via portal- Requests to participate (first stage)
- —
- Tender submission deadline
- 8 Feb 2027, 12:00 GMT
- Clarification deadline
- 15 Jan 2027, 12:00 GMT
- Submission channel
- Official e-sourcing portal
- Electronic submission
- Allowed
- Accepted languages
- en
Timeline
4 Mar 2026 → 1 Aug 2027 · 7 dates- Planning notice published230 days ago4 Mar 2026, 14:54 GMT
- Market engagement210 days ago23 Mar 2026, 23:59 GMT
A Request for Information ( RFI) questionnaire to be issued 04 March 2026 with a response window to close 23 March 2026 at 12 noon.
To express an interest, register for free on the Bank's e-procurement portal Proactis: supplierlive.proactisp2p.com/Account/Login ↗
Upon registration, the Request For Information Questionnaire can be found under the following project: RFX REQ/1000380 - Pension Administration Service 2026 - Preliminary Market Engagement.
Suppliers are further invited to attend an online supplier engagement session on 19 March 2026 at 11am. Interested parties are to register their interest at [email protected] by 12 noon 13 March 2026.
Following the supplier engagement session, the Bank may engage in a series of dialogues either one to one meetings or further group sessions with suppliers. Key information from these sessions will be made available to all bidders during the tender stage.
- Tender notice published14 days ago6 Oct 2026, 15:30 BST
- Today20 Oct 2026
- Clarification questions byin 87 days15 Jan 2027, 12:00 GMT
- Submission deadlinein 111 days8 Feb 2027, 12:00 GMT
- Award decision expected byin 255 days1 Jul 2027, 23:59 BST
- Contract startsin 285 days1 Aug 2027, 00:00 BST
Notice history
6 events · 2 releases on Find a Tender · since 4 Mar 2026- Preliminary market engagement notice published4 Mar 2026, 14:54 GMTUK2
- Tender notice published6 Oct 2026, 15:30 BSTUK4
- Published value published: £11,200,0006 Oct 2026, 15:30 BST
- Status changed to active6 Oct 2026, 15:30 BST
- Procurement method changed6 Oct 2026, 15:30 BST
- Deadline published: 8 Feb 2027, 12:00 GMT6 Oct 2026, 15:30 BST
Commercial outcome & contract awards
Nothing awarded yet- Awards (0)
- No award published
- Contracts (0)
- No contract published
- Bid statistics
- No aggregate bid statistics published
Contracting authority & participating public bodies
Official documents & specifications (2)
Official links; attachments are not copiedNotices published for this procedure
- Tender notice Tender notice on Find a Tender
- Preliminary market engagement notice Preliminary market engagement notice on Find a Tender