Pension services
Published
Description
— a comprehensive pensions administration service and maintenance of comprehensive central records embracing active, deferred and pensioner members, deaths (including organising claiming of insured death benefits), transfers in and out, retirements, early retirements, annual renewal and issue of member benefit statements, AVCs (calculated on a monthly basis and unitised; liaison with pension payroll accordingly; instructing AVC provider on Trustee’s behalf), calculation of pension increases, special benefits, etc. (including notification to members), provision and maintenance of an up to date administration manual, — provide online access for members, detail relevant information in their pension and benefits, — quarterly administration report including demonstration of achievement of agreed SLAs (Service Level Agreements) and including average SLAs plus including reference to the Pension Regulator’s data cleaning requirements, — retirement annuity bureau facility, — attendance and part. The Trustees wish to establish a contract for the provision of pension administration, actuarial, investment consulting and scheme secretarial services The contract is not being divided into lots as the authority believes that the contract will be best delivered and managed by a single economic operator. The introduction of lots would introduce the need for higher internal resource. The Trustees also believe that they will achieve better value for money by appointing a single economic operator. The provider will be managing the final salary pension plan, which is split into 2 closed defined pension schemes. The 1964 Southern Housing Group Pension Plan section is the historic pension scheme with 37 active members which is now closed to new entrants. There are both contributing and non-contributing members of the scheme. The scheme also has 284 deferred members and 156 pensioners, and at its current triennial valuation as at 31.3.2018, its assets were valued at 45 000 000 GBP. The 2017 Southern Housing Group Pension Plan section is a section which is closed to new entrants and which came into existence following the Group transferring out of the Social Housing Pensions Scheme (SHPS) in September 2017, with 20 active members. There are both contributing and non-contributing members of the scheme. The scheme also has 153 deferred members and 257 pensioners, and at its current triennial valuation as at 31.3.2018, its assets were valued at 17 800 000 GBP.
Timeline
Award date
5 years ago
Publish date
4 years ago
Buyer information
Southern Housing Group
- Contact:
- Gabriel Otubambo
- Email:
- contracts@shgroup.org.uk
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