Pension Administration Service

Description

THIS IS NOT A CALL FOR COMPETITION The Bank of England is commissioning a Pension Administration Service. It is anticipated, dependent upon an engagement exercise, that a tender for this service will be issued in April 2026, to enable a new contract to begin from March 2027. As part of the tender process, the Bank is undertaking a soft market testing exercise. This gives potential providers and other stakeholders the opportunity to express their interest and feed in their views on the potential service model and specification principles. The Bank will use the information to appraise options and further develop the specification. To express an interest, register for free on the Bank's e-procurement portal Proactis: https://supplierlive.proactisp2p.com/Account/Login Upon registration, the Request For Information Questionnaire can be found under the following project: RFX REQ/1000380 - Pension Administration Service 2026 - Preliminary Market Engagement. Suppliers are further invited to attend an online supplier engagement session on 19 March 2026 at 11am. Interested parties are to register their interest at Corporate.Contracts@bankofengland.co.uk by 12 noon on 13 March 2026 with a subject line: Pension Administration Service 2026 - UK2: Preliminary Market Engagement. Note This process does not constitute a formal tender or other competitive bidding process and will not result in the letting of a Contract. The Bank is using this process solely to test the market to gather information and ascertain the level of interest in this particular service. There are therefore no formal criteria which we will use to judge your responses, and it is not our intention to provide any feedback. About the service The Bank of England (the Bank) is the central bank of the United Kingdom. Its mission is to promote the good of the people of the United Kingdom by maintaining monetary and financial stability. Your company is invited to take part in the Preliminary Market Engagement for the provision of high-quality Defined Benefit pensions administration and pension payroll services for the Bank of England Pension Fund (the Fund). The Bank is looking to appoint a provider by March 2027 who has the capability and capacity to achieve a successful transfer of the services by the deadline date. The Bank is seeking a commercially competitive proposal which provides certainty of cost whilst demonstrating legislative compliance and innovative administration and payroll solutions. The Bank is therefore seeking expressions of interest for this significant pension administration services opportunity.