Teachers Pension Scheme Procurement
Department for Education · London
Key facts
- Closing date
- 20 Sep 2021
- Contract starts
- 29 Jun 2023
- Contract ends
- 28 Sep 2035
- Procedure
- Competitive dialogue (above threshold)
- Buyer type
- Central government
Description
The key requirement is to administer the Teachers' Pension Scheme (TPS) in accordance with the statutory regulations that govern the scheme. Those regulations are currently the Teachers' Pensions Regulations 2010 and the Teachers' Pension Scheme Regulations 2014 'the Regulations' as amended.
The administrator will be required to work with the Department to ensure the regulations remain up to date and appropriate and will need to adapt the administration to ensure it remains compliant with and supportive of any changes introduced via regulatory change or case law; such as the McCloud/Sargeant judgment in respect of 2015 transitional arrangements.
Administration of the Scheme must also comply with all other legislative requirements that have applied, apply, or will apply to the TPS. It is essential therefore that the contractor is proactive in monitoring, analysing, and adapting to new legislative requirements, ensuring the Scheme continues to adapt appropriately.
The vision for the TPS is 'to ensure that the TPS offers an attractive, clear and cost-effective contribution to the total reward package for teachers, and thus, that it plays a full part in recruiting and retaining an excellent teaching workforce.'
To support the DfE the TPS administration will be accepted as the best administered UK public service pension scheme. Providing an effective, fully digital, personalised service to our members with our partners at the centre of the administration design
The TPS is a statutory, unfunded, defined benefit occupational pension scheme split into three distinct sections: - the Normal Pension Age (NPA) 60 section - the NPA 65 section (note: both these sections provide benefits based on final salary and length of service) - the 2015 section provides benefits based on career average earnings (CARE) and has a normal pension age equal to state pension age.
The department believe it is vitally important to make the procurement process as attractive and easy for Teacher Pensions Administrators and indeed for other, non-pension Providers, to engage with. Our view is that the procurement should be flexible enough to allow the 'market' to organise itself and bid for those aspects of the service it feels it can deliver optimally via either a Consortia, Prime, etc.
Additional information: The Department reserves the right not to enter into a formal procurement process and not award contract(s). The Authority will not be liable for any tender cost, expenditure, work or effort incurred by a candidate/tenderer in acting on the basis of this Notice.
The procurement will be ran through the department's E-tendering portal. For Registration and access to the tender documents please follow the link below All information included in this notice is indicative and subject to change,
Categories (CPV)
- 48000000 Software package and information systems
- 48812000 Financial information systems
- 66000000 Financial and insurance services
- 66520000 Pension services
- 66523100 Pension fund administration services
- 72000000 IT services: consulting, software development, Internet and support
- 72212440 Financial analysis and accounting software development services
- 75100000 Administration services
- 79000000 Business services: law, marketing, consulting, recruitment, printing and security
- 79200000 Accounting, auditing and fiscal services
- 79500000 Office-support services
- 79512000 Call centre
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