Section one: Contracting authority
one.1) Name and addresses
University of Bristol
4th Floor, Augustine's Courtyard, Orchard Lane
Bristol
BS1 5DS
Telephone
+44 01173940653
Country
United Kingdom
NUTS code
UKK11 - Bristol, City of
Internet address(es)
Main address
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
Tenders or requests to participate must be submitted to the above-mentioned address
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
Education
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Sole Trustee for the UoB Pension and Assurance Scheme
Reference number
Fin-2103-001-PC_1740
two.1.2) Main CPV code
- 66161000 - Trust services
two.1.3) Type of contract
Services
two.1.4) Short description
The University of Bristol is seeking to procure independent professional Sole Trustee Services for the University of Bristol Pension & Assurance Scheme.
two.1.5) Estimated total value
Value excluding VAT: £1,000,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.2) Additional CPV code(s)
- 66141000 - Pension fund management services
- 66160000 - Trust and custody services
- 66162000 - Custody services
- 66523000 - Pension fund consultancy services
- 66523100 - Pension fund administration services
two.2.3) Place of performance
NUTS codes
- UKK11 - Bristol, City of
Main site or place of performance
Bristol
two.2.4) Description of the procurement
The University’s is seeking to appoint a Sole Corporate Trustee Provider who adds value to the governance of the Scheme and its objectives, in the interests of both the Scheme’s members and the University, as principal employer.
The Sole Corporate Trustee Provider must protect members’ interests, safeguard and strategically manage the investment of Scheme assets (with the Fiduciary Manager), monitor, manage, mitigate or eliminate risks and ensure the short, medium and longer-term funding needs of the Scheme are met. Beyond this, the Sole Corporate Trustee Provider will take the initiative and develop and implement a strategy that seeks to deliver the Scheme’s long-term funding objective within or before expiry of the stated timeframe. In so doing it will remain flexible and adaptable and will seek to identify innovative solutions to drive efficiency to meet the objective more cost effectively or ahead of time or to further mitigate or eliminate any risk to the Scheme, its members and the university. Throughout its tenure, the Sole Corporate Trustee Provider must ensure that the Scheme remains fully compliant with the legal and regulatory environment and the Scheme’s constitution and that it maintains an effective system of governance. At all times the Sole Corporate Trustee Provider will be mindful of the need to provide a cost effective, proportionate, transparent and high-quality service to the Scheme and the University, as principal employer.
The Sole Corporate Trustee Provider will be expected to operate as Sole Corporate Trustee in line with the values which have historically applied to UBPAS trusteeship, these being;
I. to treat member interests and fairness as a very high priority; and
II. to gain an in depth understanding of the covenant, the UoB business model and thereby interact effectively with the University finance function
two.2.5) Award criteria
Price is not the only award criterion and all criteria are stated only in the procurement documents
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months
144
This contract is subject to renewal
Yes
Description of renewals
The intention is to re-procure the requirement before expiry of the contract being tendered.
two.2.9) Information about the limits on the number of candidates to be invited
Envisaged minimum number: 4
Maximum number: 6
Objective criteria for choosing the limited number of candidates:
UoB will apply the criteria set out within the Selection Questionnaire.
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: Yes
Description of options
The initial contract period will be for 6 years which may be extended to a maximum total period of 12 years.
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
The estimated total value quoted in II.1.5 is estimated over 12 years.
Section three. Legal, economic, financial and technical information
three.1) Conditions for participation
three.1.2) Economic and financial standing
Selection criteria as stated in the procurement documents
three.1.3) Technical and professional ability
Selection criteria as stated in the procurement documents
three.2) Conditions related to the contract
three.2.3) Information about staff responsible for the performance of the contract
Obligation to indicate the names and professional qualifications of the staff assigned to performing the contract
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Competitive procedure with negotiation
four.1.4) Information about reduction of the number of solutions or tenders during negotiation or dialogue
Recourse to staged procedure to gradually reduce the number of solutions to be discussed or tenders to be negotiated
four.1.5) Information about negotiation
The contracting authority reserves the right to award the contract on the basis of the initial tenders without conducting negotiations
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.2.2) Time limit for receipt of tenders or requests to participate
Date
23 August 2021
Local time
12:00pm
four.2.4) Languages in which tenders or requests to participate may be submitted
English
four.2.6) Minimum time frame during which the tenderer must maintain the tender
Duration in months: 6 (from the date stated for receipt of tender)
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: No
six.4) Procedures for review
six.4.1) Review body
Royal Courts of Justice
Strand
London
Country
United Kingdom
six.4.3) Review procedure
Precise information on deadline(s) for review procedures
Bidders have the right to appeal as set out in the Public Contracts Regulations 2015. Proceedings under the Public Contracts Regulations 2015 are time limited and any such proceedings must be brought in the High Court of England and Wales.