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Notice Details

Title: Sole Trustee for the UoB Pension and Assurance Scheme
Published by: University of Bristol
Publication Date: 22/07/2021
Deadline Date: 23/08/2021
Deadline Time: 12:00
Notice Type: Contract Notice
Has Documents: No
Has ESPD: No
Abstract:

The University’s is seeking to appoint a Sole Corporate Trustee Provider who adds value to the governance of the Scheme and its objectives, in the interests of both the Scheme’s members and the University, as principal employer.

The Sole Corporate Trustee Provider must protect members’ interests, safeguard and strategically manage the investment of Scheme assets (with the Fiduciary Manager), monitor, manage, mitigate or eliminate risks and ensure the short, medium and longer-term funding needs of the Scheme are met. Beyond this, the Sole Corporate Trustee Provider will take the initiative and develop and implement a strategy that seeks to deliver the Scheme’s long-term funding objective within or before expiry of the stated timeframe. In so doing it will remain flexible and adaptable and will seek to identify innovative solutions to drive efficiency to meet the objective more cost effectively or ahead of time or to further mitigate or eliminate any risk to the Scheme, its members and the university. Throughout its tenure, the Sole Corporate Trustee Provider must ensure that the Scheme remains fully compliant with the legal and regulatory environment and the Scheme’s constitution and that it maintains an effective system of governance. At all times the Sole Corporate Trustee Provider will be mindful of the need to provide a cost effective, proportionate, transparent and high-quality service to the Scheme and the University, as principal employer.

The Sole Corporate Trustee Provider will be expected to operate as Sole Corporate Trustee in line with the values which have historically applied to UBPAS trusteeship, these being;

I. to treat member interests and fairness as a very high priority; and

II. to gain an in depth understanding of the covenant, the UoB business model and thereby interact effectively with the University finance function

Contract notice

Directive 2014/24/EU - Public Sector Directive

Directive 2014/24/EU

Section I: Contracting authority

I.1) Name and addresses

University of Bristol

4th Floor, Augustine's Courtyard, Orchard Lane

Bristol

BS1 5DS

UK

Telephone: +44 01173940653

E-mail: martyn.dean@bristol.ac.uk

NUTS: UKK11

Internet address(es)

Main address: www.bristol.ac.uk

I.3) Communication

The procurement documents are available for unrestricted and full direct access, free of charge at:

https://tenders.bris.ac.uk/


Additional information can be obtained from the abovementioned address


Tenders or requests to participate must be sent electronically to:

https://tenders.bris.ac.uk/


Tenders or requests to participate must be sent to the abovementioned address


I.4) Type of the contracting authority

Body governed by public law

I.5) Main activity

Education

Section II: Object

II.1) Scope of the procurement

II.1.1) Title

Sole Trustee for the UoB Pension and Assurance Scheme

Reference number: Fin-2103-001-PC_1740

II.1.2) Main CPV code

66161000

 

II.1.3) Type of contract

Services

II.1.4) Short description

The University of Bristol is seeking to procure independent professional Sole Trustee Services for the University of Bristol Pension & Assurance Scheme.

II.1.5) Estimated total value

Value excluding VAT: 1 000 000.00 GBP

II.1.6) Information about lots

This contract is divided into lots: No

II.2) Description

II.2.2) Additional CPV code(s)

66141000

66160000

66162000

66523000

66523100

II.2.3) Place of performance

NUTS code:

UKK11


Main site or place of performance:

Bristol

II.2.4) Description of the procurement

The University’s is seeking to appoint a Sole Corporate Trustee Provider who adds value to the governance of the Scheme and its objectives, in the interests of both the Scheme’s members and the University, as principal employer.

The Sole Corporate Trustee Provider must protect members’ interests, safeguard and strategically manage the investment of Scheme assets (with the Fiduciary Manager), monitor, manage, mitigate or eliminate risks and ensure the short, medium and longer-term funding needs of the Scheme are met. Beyond this, the Sole Corporate Trustee Provider will take the initiative and develop and implement a strategy that seeks to deliver the Scheme’s long-term funding objective within or before expiry of the stated timeframe. In so doing it will remain flexible and adaptable and will seek to identify innovative solutions to drive efficiency to meet the objective more cost effectively or ahead of time or to further mitigate or eliminate any risk to the Scheme, its members and the university. Throughout its tenure, the Sole Corporate Trustee Provider must ensure that the Scheme remains fully compliant with the legal and regulatory environment and the Scheme’s constitution and that it maintains an effective system of governance. At all times the Sole Corporate Trustee Provider will be mindful of the need to provide a cost effective, proportionate, transparent and high-quality service to the Scheme and the University, as principal employer.

The Sole Corporate Trustee Provider will be expected to operate as Sole Corporate Trustee in line with the values which have historically applied to UBPAS trusteeship, these being;

I. to treat member interests and fairness as a very high priority; and

II. to gain an in depth understanding of the covenant, the UoB business model and thereby interact effectively with the University finance function

II.2.5) Award criteria

Price is not the only award criterion and all criteria are stated only in the procurement documents

II.2.7) Duration of the contract, framework agreement or dynamic purchasing system

Duration in months: 144

This contract is subject to renewal: Yes

Description of renewals:

The intention is to re-procure the requirement before expiry of the contract being tendered.

II.2.9) Information about the limits on the number of candidates to be invited

Envisaged minimum number: 4

Objective criteria for choosing the limited number of candidates:

UoB will apply the criteria set out within the Selection Questionnaire.

II.2.10) Information about variants

Variants will be accepted: No

II.2.11) Information about options

Options: Yes

Description of options:

The initial contract period will be for 6 years which may be extended to a maximum total period of 12 years.

II.2.13) Information about European Union funds

The procurement is related to a project and/or programme financed by European Union funds: No

II.2.14) Additional information

The estimated total value quoted in II.1.5 is estimated over 12 years.

Section III: Legal, economic, financial and technical information

III.1) Conditions for participation

III.1.2) Economic and financial standing

Selection criteria as stated in the procurement documents


III.1.3) Technical and professional ability

Selection criteria as stated in the procurement documents


III.2) Conditions related to the contract

III.2.3) Information about staff responsible for the performance of the contract

Obligation to indicate the names and professional qualifications of the staff assigned to performing the contract

Section IV: Procedure

IV.1) Description

IV.1.1) Type of procedure

Competitive procedure with negotiation

IV.1.4) Information about reduction of the number of solutions or tenders during negotiation or dialogue

Recourse to staged procedure to gradually reduce the number of solutions to be discussed or tenders to be negotiated

IV.1.5) Information about negotiation

The contracting authority reserves the right to award the contract on the basis of the initial tenders without conducting negotiations

IV.1.8) Information about Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement: Yes

IV.2) Administrative information

IV.2.2) Time limit for receipt of tenders or requests to participate

Date: 23/08/2021

Local time: 12:00

IV.2.4) Languages in which tenders or requests to participate may be submitted

EN

IV.2.6) Minimum time frame during which the tenderer must maintain the tender

Duration in months: 6 (from the date stated for receipt of tender)

Section VI: Complementary information

VI.1) Information about recurrence

This is a recurrent procurement: No

VI.4) Procedures for review

VI.4.1) Review body

Royal Courts of Justice

Strand

London

UK

VI.4.3) Review procedure

Precise information on deadline(s) for review procedures:

Bidders have the right to appeal as set out in the Public Contracts Regulations 2015. Proceedings under the Public Contracts Regulations 2015 are time limited and any such proceedings must be brought in the High Court of England and Wales.

VI.5) Date of dispatch of this notice

21/07/2021


Information added to the notice since publication.

Additional information added to the notice since it's publication.
No further information has been uploaded.
Main Contact: martyn.dean@bristol.ac.uk
Admin Contact: N/a
Technical Contact: N/a
Other Contact: N/a

Commodity Categories

Commodity Categories
IDTitleParent Category
66162000Custody servicesTrust and custody services
66523100Pension fund administration servicesPension fund consultancy services
66523000Pension fund consultancy servicesPension services
66141000Pension fund management servicesPortfolio management services
66160000Trust and custody servicesBanking and investment services
66161000Trust servicesTrust and custody services

Delivery Locations

Delivery Locations
IDDescription
100UK - All

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