Section one: Contracting authority
one.1) Name and addresses
The Board of Trustees of the Highlands and Islands Enterprise Superannuation Scheme
C/O Highlands and Islands Enterprise, An Lòchran, 10 Inverness Campus
Inverness
IV2 5NA
Telephone
+44 1463245245
Country
United Kingdom
NUTS code
UK - United Kingdom
Internet address(es)
Main address
Buyer's address
https://www.publiccontractsscotland.gov.uk/search/Search_AuthProfile.aspx?ID=AA30553
one.2) Information about joint procurement
The contract is awarded by a central purchasing body
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
Other activity
Pension Services
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Pension Support Services
Reference number
FTS023
two.1.2) Main CPV code
- 66520000 - Pension services
two.1.3) Type of contract
Services
two.1.4) Short description
This is a Contract Award Notice and as such the procurement process is complete. The Board of Trustees (the Trustees) of the Highlands and Islands Enterprise Superannuation Scheme (TBTHSS) are inviting bids for pension support services including Administration; Investment and Actuarial and also Guaranteed Minimum Pension (GMP) equalisation exercise.
It is expected that these services will be required from 1 May 2023 for an initial period of 3 years with the Trustees having the option to extend for a period or periods together not exceeding 1 calendar year following the Initial Term. Should the supplier be unsuccessful at the re-tender, the administration services element of the contract will be extended by up to 6 months - the maximum contract length is stated as 54 months to reflect this.
The maximum initial 3-year budget currently available to deliver the core elements of the service is GBP 650,000 and the maximum budget for the GMP equalisation exercise was GBP 100,000 (both excluding VAT - see Scope of Requirements and Tender Guidance for full details).
two.1.6) Information about lots
This contract is divided into lots: No
two.1.7) Total value of the procurement (excluding VAT)
Value excluding VAT: £952,000
two.2) Description
two.2.2) Additional CPV code(s)
- 66523000 - Pension fund consultancy services
- 66522000 - Group pension services
- 66131100 - Pension investment services
- 66141000 - Pension fund management services
- 66523100 - Pension fund administration services
two.2.3) Place of performance
NUTS codes
- UK - United Kingdom
two.2.4) Description of the procurement
The key tasks cover:
-Administration – general; scheme accounting; pensioner payroll; governance / scheme secretarial support
-Actuarial consultancy
-Investment consultancy
-Guaranteed Minimum Pension age equalisation exercise
The contract starts on 1 May 2023 and is let for 3 years until 30 April 2026, with the Trustees having the option to extend by a period or periods up to 12 months.
two.2.5) Award criteria
Quality criterion - Name: Prompt Payment Standard Clause / Weighting: Pass/Fail
Quality criterion - Name: Cyber Security / Weighting: Pass/Fail
Quality criterion - Name: Management and Delivery Team – Key Individuals and Deputies / Weighting: 10%
Quality criterion - Name: Management and Delivery Methodology for Administration Services / Weighting: 15%
Quality criterion - Name: GMP Equalisation Exercise / Weighting: 5%
Quality criterion - Name: Management and Delivery Methodology – Actuarial and Investment / Weighting: 15%
Quality criterion - Name: Management and Delivery Methodology – Joint approach to all core elements and interaction with members / Weighting: 20%
Price - Weighting: 35%
two.2.11) Information about options
Options: Yes
Description of options
The Trustees reserves the right, on giving reasonable written notice from time to time, to require changes to the Services (whether by way of the removal of Services, the addition of new Services, or increasing or decreasing the Services or specifying the order in which the Services are to be performed or the locations where the Services are to be provided). The Trustees shall not require any such change other than where it is permitted by Regulation 72 of the Public Contracts (Scotland) Regulations 2015.
In accordance with Regulation 72(1)(a) of the Public Contracts (Scotland) Regulations 2015, Trustees reserves the right to make changes to the volume, scope or location of the Services to be supplied under the Framework following a review of the Services by Trustees, particularly with regard to:
- Non-core activities: the Trustees will provide a set of requirements and request a price as well as delivery methodology. If accepted, these services will be charged in addition to the supplier’s fixed fees.
- Changes in the pensions regulations require additional services or removal of services.
- The supplier is unsuccessful at the re-tender – the admin element of the contract will have to carry on for up to 6 months, allowing the incoming supplier to accommodate the handover
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
two.2.14) Additional information
Economic operators may be excluded from this competition if they are in any of the situations referred to in Regulation 58 of the Public Contracts (Scotland) Regulations 2015.
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Open procedure
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes
four.2) Administrative information
four.2.1) Previous publication concerning this procedure
Notice number: 2022/S 000-034180
Section five. Award of contract
Contract No
FTS 023
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
20 April 2023
five.2.2) Information about tenders
Number of tenders received: 1
Number of tenders received from SMEs: 1
Number of tenders received from tenderers from other EU Member States: 0
Number of tenders received from tenderers from non-EU Member States: 1
Number of tenders received by electronic means: 1
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor
Spence & Partners Limited
Linen Loft, Adelaide Street
Belfast
BT2 8FE
Country
United Kingdom
NUTS code
- UKN06 - Belfast
The contractor is an SME
Yes
five.2.4) Information on value of contract/lot (excluding VAT)
Total value of the contract/lot: £952,000
Section six. Complementary information
six.3) Additional information
It is estimated that the total value of the services over the maximum duration of 4 years will be GBP 952,000 (ex VAT). This is the figure which has been used in II.1.7 & V.2.4.
(SC Ref:723916)
six.4) Procedures for review
six.4.1) Review body
Inverness Sheriff Court and Justice of the Peace Court
The Inverness Justice Centre, Longman Road
Inverness
IV1 1AH
Telephone
+44 1463230782
Country
United Kingdom
Internet address
six.4.3) Review procedure
Precise information on deadline(s) for review procedures
An economic operator that suffers, or is at risk of suffering, loss or damage attributable to a breach of duty under the Public Contracts (Scotland) Regulations 2015 or the Procurement Reform (Scotland) Act 2014 , may bring proceedings in the Sheriff Court or the Court of Session