Group pension services

Tender description

Following a review of the current MAG DC Scheme, the MAG Group intends to appoint a new DC provider under the master trust model. This decision has been taken so that the MAG members can gain access to a more modern pension arrangement which caters well for access to the pension freedoms, has a more digital user experience, has wider investment choices (where members want these) and as master trust providers can run a more centralised governance model annual management charges are lower for members. Following a review of the current MAG DC Scheme, the MAG Group intends to appoint a new DC provider under the master trust model. This decision has been taken so that the MAG members can gain access to a more modern pension arrangement which caters well for access to the pension freedoms, has a more digital user experience, has wider investment choices (where members want these) and as master trust providers can run a more centralised governance model annual management charges are lower for members. Tenders who have an interest in this procurement are requested to register your interest in attending the MAG supplier day at the Manchester Airport campus on the 6.9.2018. Registration for the event will require the supplier to email: Info.procurement@magairports.com — your email must be titled “MAG ID1445 Master Trust DC Pension scheme — MAG supplier day and be received to the Info.procurement@magairports.com email by before 15:00 on 17.8.2018. In the registration email confirm the names of your companies attendee's, the number of attendees per company is limited to 2 persons per company, please provide their name's and their position within the company complete with their contact email address. MAG will commence the process to select a replacement DC scheme via a call for competition contract notice in September 2018. The selection process is targeted to be completed in April 2019, with the timing of the changeover to the new provider for future contributions to be determined thereafter.