Scope
Reference
LGPSC0038
Description
Following the outcome of the government's 'Fit for Future' consultation, LGPS Partner Funds are required to take their primary advice on strategic asset allocation from their chosen asset pool (LGPS Central Limited being one of those asset pools).
Partner Funds' pension liabilities under membership of the LGPS are defined benefit in nature. By this, we mean that pension promises are made to members, and Partner Funds set aside large pools of assets held collectively, and in order to meet those pension promises. Strategic asset allocation decisions therefore require some consideration of those liabilities, including the impact on contributions requirements (to cover both ongoing accrual of benefits and any asset shortfall which may have arisen), as well as the likely investment returns (and uncertainty thereof) from the assets held.
A robust, good quality investment strategy modelling capability is therefore required to support the delivery of tailored strategic advice to Partner Funds. This requirement stems from the complexity of investment strategy decisions, the need for regulated and evidence-based advice, and the expectation of future-proofing capabilities such as scenario modelling and whole-of-fund management.
Total value (estimated)
- £4,320,000 including VAT
Above the relevant threshold
Contract dates (estimated)
- 1 April 2026 to 31 March 2029
- Possible extension to 31 March 2035
- 9 years
Description of possible extension:
Two further 3 -year contract extensions will be available, making the maximum available contract period 9 years.
Any contract extensions will be executed at the discretion of the Authority depending on future requirements.
Main procurement category
Services
CPV classifications
- 79412000 - Financial management consultancy services
Contract locations
- UKG39 - Wolverhampton
Participation
Legal and financial capacity conditions of participation
See ITT for further details.
Technical ability conditions of participation
See ITT for further details.
Submission
Submission type
Tenders
Tender submission deadline
16 January 2026, 12:00pm
Submission address and any special instructions
https://in-tendhost.co.uk/lgpscentral/
Please see ITT for further information.
Tenders may be submitted electronically
Yes
Languages that may be used for submission
English
Award decision date (estimated)
1 March 2026
Award criteria
| Name | Type | Weighting |
|---|---|---|
| Price | Price | 30% |
| Treatment of liabilities and calibration process | Quality | 15% |
| Initial calibration support and suitability of plans to ensure eventual self-sufficiency | Quality | 15% |
| Investment Economic Scenario Generation engine | Quality | 10% |
| Suitability of modelling methodology | Quality | 10% |
| Model output appropriateness | Quality | 10% |
| Presentation | Quality | 10% |
Other information
Description of risks to contract performance
Please see ITT for more information.
Conflicts assessment prepared/revised
Yes
Procedure
Procedure type
Competitive flexible procedure
Competitive flexible procedure description
This Competitive Flexible Procedure will comprise of a single response to this invitation to Tender (ITT).
Responses to this ITT will be evaluated in four (4) assessment stages, including an interim assessment stage.
See ITT document for more information.
Documents
Associated tender documents
https://in-tendhost.co.uk/lgpscentral/
Please find the tender documentation for this procurement at https://in-tendhost.co.uk/lgpscentral/
Contracting authority
LGPS CENTRAL LIMITED
- Companies House: 10425159
- Public Procurement Organisation Number: PVZL-3598-XMXZ
1st Floor I9
Wolverhampton
WV1 1LD
United Kingdom
Region: UKG39 - Wolverhampton
Organisation type: Public authority - sub-central government