Data Validation for the Pension Protection Fund (PPF) and Financial Assistance Scheme (FAS) Members.
Pension Protection Fund · London
Key facts
- Contract value
- £2,500,000
- Awarded
- 02 Nov 2015
- Contract starts
- 02 Nov 2015
- Contract ends
- 01 Nov 2020
- Procedure
- Open procedure
- Buyer type
- Other public body
Awarded to
| Supplier | Value |
|---|---|
| Target Professional Services (UK) Ltd | £2,500,000 |
Description
The Board of the Pension Protection Fund are looking to procure data validation services for key data items relating primarily to member status and addresses. The intention is for these services to be made available to Trustees responsible for schemes in PPF assessment and Financial Assistance Scheme (FAS) wind up period and for these services to also support the maintenance of the data once the scheme has transferred to the PPF/ FAS. All interested suppliers need to contact the [email protected] inbox to request a copy of the Board's Non Disclosure Agreement (NDA) which will need to be signed, scanned and emailed back to the same inbox and only then will suppliers who have already registered themselves on the Bravo e-tendering system be invited to complete the Invitation to Tender (ITT). The Board's aim is to achieve a consistent and high standard of data quality to support the following: ⢠Accurate payments of compensation and assistance ⢠Effective communication to our members ⢠Effective management of our key risks particularly those related to our funding strategy ⢠Compliance to industry / regulatory standards (tPR common data checks, the National Fraud Initiative and the DPA). Currently we ask a selection of third party providers to run regular exercises to ensure that we know the status of our members, where they are living and to support an effective annual valuation of our liabilities. These checks are procured by the Trustees for schemes in assessment and wind up and by the Board for the data which has already transferred to our systems. The Board also run a quarterly check against completion of tPR common data fields for the transferred book. We are now seeking to formalise these exercises by way of a tender and the award of longer term contracts. The tender includes 7 lots made up of 4 individual lots plus 3 combination lots. Bidders are encouraged to submit tender responses on one or more lots. The contract notice detail is designed to give a view on how the various data validation exercises are currently structured. The Board are looking for bidders to offer innovative solutions that will successfully deliver our requirements, but perhaps more importantly we are interested in exploring new ways of delivering the services while maximising value for money.
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