Contract to Provide Support Services the Operator of an Authorised Contractual Scheme
London Councils · London
Key facts
- Contract value
- £200,000
- Awarded
- 28 May 2015
- Contract starts
- 31 Aug 2015
- Contract ends
- 31 Aug 2018
- Procedure
- Open procedure
- Buyer type
- Local government
Awarded to
| Supplier | Value |
|---|---|
| Capita Plc | £200,000 |
Description
Across London there are thirty three local authority pension funds which are part of the Local Government Pension Scheme (LGPS), a national scheme administered on a local basis.
The LGPS funds are governed by the Superannuation Act 1972 and are administered in accordance with the following secondary legislation: ⢠the LGPS Regulations 2013 ⢠the LGPS (Management and Investment of Funds) Regulations 2009
Currently the thirty three funds (32 London boroughs and the City of London Corporation) each manage their pension investments independently. In the future, the administering authorities have decided to collaborate on the management and investment of their pension fund assets to deliver efficiencies, economies of scale and improvement in operations.
The most appropriate vehicle for creating numerous benefits, whilst retaining local accountability and decisions making by the individual funds is the proposed Collective Investment Vehicle (CIV), structured as an Authorised Contractual Scheme (ACS) with an authorised ACS Operator (âthe Operatorâ, London LGPS CIV Ltd.) and fund
London Councils is seeking the provision of supporting services to the Operator in its role as the FCA regulated body responsible for the ACS Fund for a period of 12 months from the start of service delivery. The CIV is still in its implementation phase and at this point it is not possible to be precise about when service delivery is likely to begin, but in broad terms we expect it to be in the autumn of 2015.
However, it is anticipated that the successful candidate will wish to be involved in the implementation phase prior to the start of service delivery.
Additional information: London Councils is facilitating this procurement for and on behalf of London LGPS CIV Ltd (the Operator), but any resulting contract will be between London LGPS CIV Ltd and the successful Candidate.
Tender responses and accompanying documents are to be received by 28 April 2015, 12: 00 noon (BST). All responses should provide 2 separate attachments, those being a response detailing the Background Information and Suitability and a separate Service Requirements Proposal.
Tender responses and any questions about the procurement and/or this tender should be submitted via email to
[email protected] and copying in both [email protected] and [email protected] .
Queries must be received by London Councils before 12:00 noon (BST) on 18 April 2015. London Councils may not respond to queries submitted after this date.
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