Financial and insurance services

Tender description

The NorfolK Pension Fund, administered by Norfolk County Council, in collaboration with a number of other LGPS Administering Authorities, intends to extend its multi-provider Framework Agreement for the provision of Global Custody Services to the Local Government Pension Scheme by 18 months. This is a National Framework Agreement, available for use by all LGPS Administering Authorities and their equivalent bodies in the UK. Services include, but are not limited to, safekeeping of assets, trade settlement, tax collection, corporate actions, proxy voting facilitation, investment accounting, online reporting, performance measurement, foreign exchange, cash management, compliance monitoring, passive currency hedging and other asset administration services which may arise from time to time. The Norfolk Pension Fund, administered by Norfolk County Council, in collaboration with a number of other LGPS Administering Authorities, intends to extend its multi-provider Framework Agreement for the provision of Global Custody Services to the Local Government Pension Scheme by 18 months. This National Framework Agreement is available for use by all LGPS Administering Authorities and their equivalent bodies in the UK. Services include,, but are not limited to, safekeeping of assets, trade settlement, tax collection, corporate actions, proxy voting facilitation, investment ccounting, online reporting, performance measurement, foreign exchange, cash management, compliance monitoring, passive currency hedging and other asset administration services, which may arise from time to time. The Local Government Pension Scheme is currently undergoing major changes with the introduction of pooling arrangements and until these changes are established, it is not possible to predict or identify the changes that will be required to the services provided under the Framework Agreement. The Council therefore intends to extend the Framework Agreement by 18 months to allow one year for the pooling arrangement to become embedded and 6 months to procure a new Framework Agreement.