Section one: Contracting authority
one.1) Name and addresses
Westmorland and Furness Council
South Lakeland House, Lowther Street
Kendal
LA9 4DQ
Contact
Mrs Alyson Delin
Alyson.Delin@westmorlandandfurness.gov.uk
Country
United Kingdom
Region code
UKD1 - Cumbria
Internet address(es)
Main address
https://www.westmorlandandfurness.gov.uk/
Buyer's address
https://www.westmorlandandfurness.gov.uk/
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
one.4) Type of the contracting authority
Regional or local authority
one.5) Main activity
General public services
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
National LGPS Frameworks - Invitation to Participate in a Further Competition under the Actuarial, Benefits & Governance Consultancy Services Framework Agreement
Reference number
DN677694
two.1.2) Main CPV code
- 66000000 - Financial and insurance services
two.1.3) Type of contract
Services
two.1.4) Short description
The Local Government Pension Scheme (LGPS) is a national scheme administered on a local basis by Westmorland & Furness Council through Cumbria Pension Fund (“the Fund”), providing current and future benefits for over 62,000 scheme members.
two.1.5) Estimated total value
Value excluding VAT: £1,800,000
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.3) Place of performance
NUTS codes
- UKD1 - Cumbria
two.2.4) Description of the procurement
The Local Government Pension Scheme (LGPS) is a national scheme administered on a local basis by Westmorland & Furness Council through Cumbria Pension Fund (“the Fund”), providing current and future benefits for over 62,000 scheme members.
The Fund is governed by the Superannuation Act 1972 and the Public Services Pensions Act 2013.
The Fund is administered in accordance with the following secondary legislation:
- The LGPS Regulations 2013 (as amended)
- The LGPS (Transitional Provisions, Savings and Amendment) regulations 2014 (as amended)
- The Occupational and Personal Pension Scheme (Administration) Regulations 2008
- The LGPS (Management and Investment of Funds) Regulations 2009
As at 31st March 2023, there were 125 employer organisations in the Fund, including Westmorland & Furness Council and Cumberland Council, with 78 scheduled employers (including 37 academy employers) and 47 admitted employers. Membership numbers as at 31st March 2023 were:
Active members 20,453 (including pending leavers)
Deferred members 22,878 (excluding pending leavers)
Pensioner members 18,947
Total membership 62,278
Benefits are funded by contributions and investment earnings. Contributions are made by active members of the fund in accordance with the LGPS Regulations 2013 and range from 5.5% to 12.5% of pensionable pay. Employer contributions are set based on triennial actuarial valuations. The last valuation was at 31st March 2022, and future employer contribution rates were set ranging from 14.4% to 31.0% of pensionable pay. Some employers also pay annualised cash sums in respect of the recovery of their pension deficit, whilst others receive an offset on the future employer contribution rates where they have a large pension surplus.
The value of the Fund at 31st March 2023 was £3.163bn and the Fund is managed with regard to a strategic asset allocation benchmark. The actual allocation at any point in time reflects the decisions and views of the Fund’s investment managers and the movement of financial markets.
two.2.5) Award criteria
Quality criterion - Name: Quality / Weighting: 70
Cost criterion - Name: Cost / Weighting: 30
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Start date
14 October 2023
End date
13 October 2029
This contract is subject to renewal
No
two.2.10) Information about variants
Variants will be accepted: No
two.2.11) Information about options
Options: Yes
Description of options
Option to extend for a further 3 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
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: No
four.2) Administrative information
four.2.2) Time limit for receipt of tenders or requests to participate
Date
1 September 2023
Local time
5:00pm
four.2.4) Languages in which tenders or requests to participate may be submitted
English
four.2.7) Conditions for opening of tenders
Date
1 September 2023
Local time
5:05pm
Place
Cumbria House, 117 Botchergate, Carlisle, Cumbria, CA1 1RD
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
Her Majesty's Court Service
Strand
London
WC2A 2LL
Country
United Kingdom