Pension Administrator: Royal Mail Statutory Pension Scheme

Tender description

Procurement of a supplier of pension administration services for Royal Mail Statutory Pension Scheme(RMSPS). This scheme is managed by the Authority. The RMSPS transferred to the public sector in April 2012 and the former contract expired in March 2017. The Authority sought innovative proposals to this significant pension administration services opportunity. This procurement is solely for the pension administration services to the RMSPS. The successful pension administrator will work with Royal Mail Pension Plan's (RMPP) pension administrator, Royal Mail Group Limited (RMG), with regard to those members who are beneficiaries in both RMSPS and RMPP. RMSPS is currently the 6th largest public sector pension scheme in the United Kingdom. The RMSPS has approximately 402 000 deferred members and pensioners. Approximately 116 000 of these are also members of the RMPP. The scheme has no active members so there are no accruing costs or contributions.