Find a TenderAwarded

Published 22 Jun 2023, 12:25 BST

Official UK procurement notice

Professional Services Framework (Admin, Actuarial, and Consultancy) 2023

Official notice

Authority: The Board of the Pension Protection Fund

Framework agreement2 lotsServicesOpen procedureMax 2 lots per supplier

Sectors: Financial and insurance services (66) Delivery: UK

Framework ceiling (notional)£50,000,000total for 2 lots · framework ceiling, not attributable revenue

Submissions closed 26 Jul 2023awarded 6 Dec 2023

Lots 2max 2 won per supplier

What is being bought2 lots · detail below

Published requirement description

The Board of the Pension Protection Fund (the Board) has procured a Framework Agreement consisting of specialist firms to provide administration, actuarial, support and consultancy services.

Firms have been appointed to either Lot 1 or Lot 2, or both Lots, distinguished by the type of work required under the Framework Agreement.

Lot 1 – Administration, Actuarial, Support & Pensions Consultancy Services
Lot 2 – Actuarial Consultancy Services

Lot 1 is primarily for services to the Board where both administration and actuarial services and/or pensions consultancy may be required at the same time.

Lot 2 is aimed at firms with specialist actuarial capabilities who have experience in either the pensions or insurance industries (where long-term risk modelling is also considered).

The Framework Agreements have an initial term of two years, with the option of two one-year extensions, commencing 2 December 2023.

The National Employment Savings Trust (NEST) may also choose to contract for services via a call-off from this Framework.

The final value of the framework across the maximum term (four years) may fall within a wide range as it has been set up to be available for future call-offs for in scope requirements that we may not currently be aware of.

CPV: Actuarial services · Insurance and pension services

How this framework works

From the published notice

Places: up to 15 suppliers · 14 bids received (0.9 per place) · 14 appointed

Lots and requirements (2)Procurement structure

2 lots · no lot values published · win at most 2 of them · evaluation weights differ by lot

Lot #1Administration, Actuarial, Support & Pensions Consultancy ServicesAwardedRenewal

Lot 1 is primarily for services to the Board where both administration and actuarial services and/or pensions consultancy may be required at the same time.

Delivery: UK

Extensions: The Framework Agreement will be awarded for an initial period of two (2) years, the Framework Agreement may be extended on the same terms and conditions at the Board’s option for a further period or periods not exceeding four (4) years in total.Variant bids: not allowed

66519600 Actuarial services

Lot #2Actuarial Consultancy ServicesAwardedRenewal

Lot 2 is aimed at firms with specialist actuarial capabilities who have experience in either the pensions or insurance industries (where long-term risk modelling is also considered).

Delivery: UK

66519600 Actuarial services

What it takes to win
i
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 more

How bids were scored

Lots publish different evaluation splits; there is no single procedure weighting.

Lot	Quality	Price	Social value	Split
1 · Administration, Actuarial, Support & Pensions Consultancy Services	90	100	10
2 · Actuarial Consultancy Services	90	100	10

Conditions of participation1

Suitability
Selection criteria as stated in the procurement documents

What this means for your bid

Price carries 100 points on every lot: a 10% discount moves about 10 points.
“Professional Services Framework (Admin, Actuarial, and Consultancy) 2023” is a framework: the contest is a place on its panel, up to 15 suppliers, not a single contract.

Price arithmetic assumes straight proportional scoring; the tender pack may use another formula.

Procedure terms & legal framework

From the official record

Procedure method: Open procedure
Legal basis: CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
Procurement category: Services
Notice status: Awarded
Procurement threshold: Unspecified in notice
Regulatory regime: Standard
Commercial structure: Framework agreement
Who may use this agreement: Not stated in the notice; call-off rights may be limited to the establishing authority
Competition type: Competitive procedure
GPA / WTO covered: Yes (GPA)
Recurring procurement: No (one-off requirement)
First published: 22 Jun 2023, 12:25 BST
Last source update: 21 Dec 2023, 09:36 GMT
Award evaluation window: 26 Jul 2023 – …
FTS notice number: 2023/S 000-037609
Classification (CPV): Actuarial servicesInsurance and pension services
Delivery area: UK
Official registry OCID: ocds-h6vhtk-03db9f Find a Tender

Contract terms

Electronic trading: e-invoicing allowed · electronic payment

How it was run

Official notice

Run through: Jaggaer · Who buys & how to bid on JAGGAER

Supplier login requiredLanguage: EN

Access & registration note: Free; latest Chrome/Edge/Firefox only — corporate browsers fail

Appointment period ends: 26 Jul 2023, 13:00 BST
Submission channel: {"electronicSubmission","written"}
Accepted languages: en
Bid validity: 360 days from the deadline
Bids opened: 26 Jul 2023, 13:00 BST

Detailed submission instructions & authority contactsFrom official release

ppf.bravosolution.co.uk/web/login.html ↗

Timeline

26 Jul 2023 → 21 Dec 2023 · 3 dates

Admission / appointment period endsperiod end, not a bid countdown
26 Jul 2023, 13:00 BST
Bids opened
26 Jul 2023, 13:00 BST
Notice published
21 Dec 2023, 09:36 GMT

Notice history

1 event · 2 releases on Find a Tender

Status changed to complete
21 Dec 2023, 09:36 GMT

Commercial outcome & contract awards

Published awards, contracts and bid statistics, not a forecast

Suppliers appointed 14admitted to the panel · see the list ↓

Bids received 14

Contracts signed 14latest 6 Dec 2023

14 suppliers are admitted to this framework without individual award values or dates, see the supplier list below.

Contracts

All 14 of these contracts carry the same published figure, £50,000,000, the framework's maximum for the whole notice, not each contract's own value. They are not eleven separate sums.

Professional Services Framework (Admin, Actuarial, and Consultancy) 2023
Signed
6 Dec 2023
Value
ceiling above
Status
active
Professional Services Framework (Admin, Actuarial, and Consultancy) 2023
Signed
5 Dec 2023
Value
ceiling above
Status
active
Professional Services Framework (Admin, Actuarial, and Consultancy) 2023
Signed
1 Dec 2023
Value
ceiling above
Status
active
Professional Services Framework (Admin, Actuarial, and Consultancy) 2023
Signed
30 Nov 2023
Value
ceiling above
Status
active
Professional Services Framework (Admin, Actuarial, and Consultancy) 2023
Signed
29 Nov 2023
Value
ceiling above
Status
active
Professional Services Framework (Admin, Actuarial, and Consultancy) 2023
Signed
27 Nov 2023
Value
ceiling above
Status
active
Professional Services Framework (Admin, Actuarial, and Consultancy) 2023
Signed
24 Nov 2023
Value
ceiling above
Status
active
Professional Services Framework (Admin, Actuarial, and Consultancy) 2023
Signed
23 Nov 2023
Value
ceiling above
Status
active
Professional Services Framework (Admin, Actuarial, and Consultancy) 2023
Signed
22 Nov 2023
Value
ceiling above
Status
active
Professional Services Framework (Admin, Actuarial, and Consultancy) 2023
Signed
22 Nov 2023
Value
ceiling above
Status
active
Professional Services Framework (Admin, Actuarial, and Consultancy) 2023
Signed
21 Nov 2023
Value
ceiling above
Status
active
Professional Services Framework (Admin, Actuarial, and Consultancy) 2023
Signed
16 Nov 2023
Value
ceiling above
Status
active
Professional Services Framework (Admin, Actuarial, and Consultancy) 2023
Signed
15 Nov 2023
Value
ceiling above
Status
active
Professional Services Framework (Admin, Actuarial, and Consultancy) 2023
Signed
15 Nov 2023
Value
ceiling above
Status
active

Bid statistics published by the authority

Lot	Bids	SME	VCSE	Valid bid range
1 · Administration, Actuarial, Support & Pensions Consultancy Services	14bids	—	—	—
2 · Actuarial Consultancy Services	14bids	—	—	—
Whole notice	14bids	—	—	—

Contracting authority & participating public bodies

The Board of the Pension Protection Fund

Contracting authorityBody governed by public lawEconomic affairs Renaissance, 12 Dingwall Road, Croydon, UK, CR0 2NAContact email, phone Published organisation website ↗

Framework contractors & participating bidders

14 commercial parties on the notice

Barnett Waddingham LLPFramework contractor 2 London Wall Place, London, UK
Broadstone Pensions LimitedFramework contractor 100 Wood Street, London, UK
Capita Business Services LtdFramework contractor 65 Gresham Street, London, UK
Ernst & Young LLPFramework contractor London, UK
First Actuarial LLPFramework contractor Leeds, UK
Government Actuary's DepartmentFramework contractor 6th Floor, 10 South Colonnade, London, UK
Grant Thornton UK LLPFramework contractor 30 Finsbury Square, London, UK
Hymans Robertson LLPFramework contractor One London Wall, London, UK
Isio Group LimitedFramework contractor 10 Norwich Street, London, UK
KPMG LLPFramework contractor 15 Canada Square, London, UK

Show 4 more suppliers

Lane Clark and Peacock LLPFramework contractor 95 Wigmore Street, London, UK
PricewaterhouseCoopers LLPFramework contractor 1 Embankment Place, London, UK
Quantum Actuarial LLPFramework contractor Cypress House Pascal Close St Mellons, Cardiff, UK
Spence & Partners LimitedFramework contractor Linen Loft, 27-37 Adelaide Street, Belfast, UK

Official documents & specifications (2)

Official links; attachments are not copied

Tender pack and attachments

Economic and financial selection criteriatenderEconomic and financial selection criteria
Technical selection criteriatenderTechnical selection criteria