Tender for the provision of Pension Advisory Services

Contract details

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ID:

140774

OCID:

ocds-kuma6s-138921

Contract type:

Services

Procedure type:

Open

Contract award notice ref:

APR475015

Internal ref:

Portal Ref: 140774

Contact catergory:

C - Local contract let on behalf of one buyer

Buyer:

S4C

Primary CPV code:

N/a

Additional CPV code(s):

Is framework:

No

Carbon reduction plan:

Options:

Description:

S4C is looking to appoint a provider of pension services from 5 April 2024 to provide the services described below across its three locations (the “Services”): 2.2.1. providing the interface between S4C/its employees and the group scheme and its provider from time to time; 2.2.2. dealing with group scheme administration, such as enrolling new members in the group scheme where required by S4C and providing them with scheme documentation and processing changes in members’ personal details or instructions; 2.2.3. advising new Employees of S4C on their pension options and processing any pension switches or transfers; 2.2.4. providing investment advice to S4C Employee members on their choice of funds within the group scheme and processing any fund switches; 2.2.5. providing individual reviews as required, such as existing fund review reports, retirement options reports and lifetime allowance reports; 2.2.6. advising and assisting S4C Employee members on their pension options when leaving S4C and processing their options where applicable; 2.2.7. advising and assisting S4C Employee members in connection with their retirement from S4C, including advising on the drawing of benefits and processing the payment of benefits; 2.2.8. providing general pension regulatory updates to S4C Employees on matters which may affect them; 2.2.9. alerting S4C to any pension regulatory changes which may affect it, advising on their implications and assisting with implementing any changes which may be required; 2.2.10. ensuring that any group scheme documentation issued to S4C Employees are updated and remain compliant with tax and legislative provisions; 2.2.11. assisting S4C Employee members with miscellaneous pension enquiries and assisting in resolving any pension-related problems; 2.2.12. assisting S4C with compliance with the auto-enrolment requirements; and 2.2.13. from time to time, reviewing and benchmarking the provider of S4C’s group scheme, making recommendations to S4C and assisting with implementing any change of provider. Any reference to ‘advice’ or ‘advising’ in the services above refers to making formal specific recommendations to a member, which would constitute FCA regulated advice. The Services will include attending site visits at all S4C’s offices from time to time, including its offices in Cardiff, Carmarthen and Caernarfon, and conducting one-to-one meetings with S4C Employee members, as well as providing general S4C Employee presentations where appropriate. Written material will include individual written reports as well as issuing standard scheme packs to S4C Employee members. The Services will also include attending meetings with S4C personnel responsible for S4C’s pension matters. The successful provider is not expected to advise S4C Employees in relation to the DB Scheme, but a working knowledge of members’ entitlement under the DB Scheme may be required in order to provide holistic advice to S4C Employee members on their pension situation. For the avoidance of doubt, the successful provider will not be required to provide advice in respect of transfers from the DB Scheme. The successful provider will be required to advise those retiring or leaving S4C on their pension options and on the claiming of benefits, but otherwise will not be expected to advise any members who are no longer employed by S4C.

Purchasing team:

N/a

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Contract dates

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Date awarded:

11 March 2024

Start date:

08 April 2024

End date:

08 April 2026

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Contract extensions

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Extended contract end date:

-

Max extension options available:

12 (months)

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Additional information

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Additional information:

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Contact details

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Contract name:

Elin Morris

Contract email:

N/a

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