Pension services

Tender description

The Department for Work and Pensions has a requirement for a new defined contribution Master Trust pension arrangement for staff who will be employed by GovCo, a limited company established by the DWP. The employees will not be civil servants. The arrangement will be between the pension provider and GovCo but the DWP will be engaging in the procurement process on GovCo's behalf. The GovCo will be an enabler to DWP's Technology Vision for 2020, and provide ADMS services to the Department using specialist IT employees. The GovCo will be wholly owned, and fully funded, by the Department. It will be a non-departmental government body operating as a company limited by guarantee. Pension provision is a supporting service that must be in place before the 1st wave of employees transfer to the GovCo during October 2016. The successful supplier will be required to: 1. Provide, manage and support a qualifying workplace defined contribution pension scheme for all eligible GovCo employees as the number of employees grows; 2. Provide implementation and launch support; for example managing bulk transfer of existing pension assets to the new GovCo scheme and setting up payroll integration if needed; 3. Provide support to members and the employer; e.g. providing an online member support service to access annual statements, fund performance and data, and investment selection. DWP reserves the right not to procure all or part of the services listed and to change the scope for the potential services.