Pension fund administration services

Description

In order to administer the Local Government Pension Scheme (LGPS) in Scotland, LPF requires an integrated pension administration and payroll software system to provide benefit entitlement calculations and payments in compliance with relevant LGPS Regulations. The Statement of Requirements document provides a detailed description, including technical requirements, of the proposed service. The City of Edinburgh Council (The Council) is the administering authority of the Local Government Pension Scheme (LGPS) in Scotland for the Lothian area. Lothian Pension Fund (LPF), which is not a separate legal entity from the Council, carries out the specialist activities of investing the assets (approximately 6 000 000 000 GBP) and administering the benefits of 3 funds — Lothian Pension Fund, Lothian Buses, Pension Fund and Scottish Homes Pension Fund — on behalf of over 100 contributing employers and over 80 000 members. Where stated “LPF” this refers to all the three funds. In order to administer the Local Government Pension Scheme (LGPS) in Scotland, LPF requires an integrated pension administration and payroll software system to provide benefit entitlement calculations and payments in compliance with relevant LGPS Regulations. The proposed contract is primarily intended for use by The City of Edinburgh Council, in its role as administering authority of the Local Government Pensions Scheme (LGPS) in Scotland for the Lothian region. However, bidders should note that The City of Edinburgh Council took the decision to offer all other Scottish LGPS’s the opportunity to make use of the proposed service at some point in the future when their current arrangements expire. The following other LGPS pension funds have indicated that they may wish to enter into an agreement with the successful supplier when their current arrangements end: — Falkirk Council Pension Fund, — Fife Council Pension Fund, — Highlands Pension Fund, — Scottish Borders Council Pension Fund, — Shetland Islands Council Pension Fund, — Strathclyde Pension Fund, — Tayside Pension Fund. Bidders should note that, although the LGPS’s named above have indicated an interest in possibly entering into similar agreements with the successful Contractor for delivery of the service when their current arrangements expire, they are under no obligation to do so. Similarly, in the event that, for any reason, the Contractor does not wish to participate in such an arrangement, they will retain a ‘Right of Refusal’ to enter into any such contract with any other Scottish LGPS.