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.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
www.publiccontractsscotland.gov.uk
Additional information can be obtained from the above-mentioned address
Tenders or requests to participate must be submitted electronically via
www.publiccontractsscotland.gov.uk
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
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 2022 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 is GBP 100,000 (both excluding VAT - see Scope of Requirements and Tender Guidance for full details).
two.1.5) Estimated total value
Value excluding VAT: £966,666
two.1.6) Information about lots
This contract is divided into lots: No
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
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.2.6) Estimated value
Value excluding VAT: £966,666
two.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months
54
This contract is subject to renewal
Yes
Description of renewals
The Contract will be awarded 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 admin element of the contract will continue for an additional up to 6 months period.
two.2.10) Information about variants
Variants will be accepted: No
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 three. Legal, economic, financial and technical information
three.1) Conditions for participation
three.1.2) Economic and financial standing
Minimum level(s) of standards possibly required
4B.5 It is a requirement of this Contract that bidders hold, or can commit to obtain prior to the commence of the contract, the types and levels of insurance indicated below:
Employer’s (Compulsory) Liability Insurance = GBP5M for each and every claim.
See http://www.hse.gov.uk/pubns/hse40.pdf
Public Liability Insurance = GBP2M for each and every claim.
Professional Indemnity Insurance = GBP5M for each and every claim
4B.6 (not scored)
The Trustees as a public body must comply with HMRC IR35 provisions. Therefore, where you are bidding as a personal service company (PSC) or will be using a personal service company to provide services under the Contract please identify these PSC(s) in your response to 4B.6.
three.1.3) Technical and professional ability
Minimum level(s) of standards possibly required
4C4 If bidders intend to use a supply chain to deliver the requirements detailed in the Contract Notice, they should confirm they have (or have access to) the relevant supply chain management and tracking systems to ensure a resilient and sustainable supply chain. Please refer to SPD for full requirements. If bidders do not pay at least 95% of valid invoices on time and are unable to provide a proportionate and timely improvement plan, their organisation will not be selected to participate further in this procurement.
4C6 The Investment Consultant must be authorised under the Financial Services and Markets Act 2000 (section 34(2), Pensions Act 1995).
4C6 The Scheme Actuary must have Fellowship of the Institute and Faculty of Actuaries (or else approved by the Secretary of State for Work and Pensions) (Regulation 4 of the Occupational Pension Schemes (Scheme Administration) Regulations 1996).
4C6 The supplier must be listed and authorised on the Financial Services Register https://www.fca.org.uk/firms/financial-services-register.
three.2) Conditions related to the contract
three.2.2) Contract performance conditions
The Contract will include SLAs and KPIs which can be found within the Tender documentation.
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
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.2.2) Time limit for receipt of tenders or requests to participate
Date
24 January 2023
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: 3 (from the date stated for receipt of tender)
four.2.7) Conditions for opening of tenders
Date
24 January 2023
Local time
12:00pm
Section six. Complementary information
six.1) Information about recurrence
This is a recurrent procurement: Yes
Estimated timing for further notices to be published: The Trustees reserve the right to re-tender for these services upon termination of the contract or at the end of the contract period, including any extension period.
six.2) Information about electronic workflows
Electronic ordering will be used
Electronic invoicing will be accepted
Electronic payment will be used
six.3) Additional information
It is estimated that the total value of the services over the maximum duration of 4 years will be maximum GBP 966,666 (excluding VAT). This is the figure which has been used in II.1.5 & II.2.6.
Where bidders are participating with others (SPD 2A.17) and/or relying on the capacity of other entities in order to meet selection criteria (SPD 2C.1) they are required to provide information relating to these entities with the relevant supporting SPD documentation being submitted
SPD 2A.3 (not scored) Where relevant, bidders are required to insert details of their Companies House (or equivalent) registration number.
SPD 3D.12 Bidders should refer to the "Conflict of Interest" Section within the Scope of Requirements when completing this question.
AWARD CRITERIA SCORING -
Q1 Cyber Security and Q2 Prompt payment standard clause will be evaluated on a Pass/Fail basis. Bidders who receive a Pass for both these Questions will then be evaluated against Questions 3-6. This stage has a minimum threshold of 28% which bidders must achieve in order to remain in the process and then be evaluated against Question 7 and be invited to a presentation on 16 February 2023. See tender documentation for full details on the evaluation process including the presentation.
In order to participate, bidders should register, for free, on the Public Contracts Scotland (PCS) website(www.publiccontractsscotland.gov.uk), and record their interest in this contract and download and complete all relevant documentation.
Tenders must be submitted via the PCS Postbox and must be received by the published deadline. Late tenders will not be accepted and HIE will reject any submissions received after the deadline. Email or hard copy responses will not be accepted.
PCS also gives suppliers access to an on-line Question & Answer facility which allows queries to be submitted (anonymously), and answers published and shared with all potential bidders.
This Contract will be non-exclusive i.e. the Trustees reserve the right, in certain circumstances, to procure out with the contract as and when required.
NOTE: To register your interest in this notice and obtain any additional information please visit the Public Contracts Scotland Web Site at https://www.publiccontractsscotland.gov.uk/Search/Search_Switch.aspx?ID=711838.
The buyer has indicated that it will accept electronic responses to this notice via the Postbox facility. A user guide is available at https://www.publiccontractsscotland.gov.uk/sitehelp/help_guides.aspx.
Suppliers are advised to allow adequate time for uploading documents and to dispatch the electronic response well in advance of the closing time to avoid any last minute problems.
(SC Ref:711838)
Download the ESPD document here: https://www.publiccontractsscotland.gov.uk/ESPD/ESPD_Download.aspx?id=711838
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