Financial and insurance services

Tender description

This procurement is being undertaken by the Trustee of the Combined Nuclear Pension Plan (‘the Trustee’). It relates to liabilities in respect of the GPS Energy Solutions Section of the Combined Nuclear Pension Plan (‘the Section’ and ‘the Plan’ respectively). The Plan is a multi-employer final salary pension arrangement with a separate ring-fenced section for each employer or employment group. The Nuclear Decommissioning Authority (NDA), while not an employing entity is the Lead (Principal) Company for many of the sections. This annuity is only in respect of the Section (the Energy Solutions EU Limited section), although the plan may seek to secure further bulk annuities for other sections in future. This procurement relates to liabilities in respect of the GPS Energy Solutions Section of the combined nuclear pension plan. A bulk annuity is required to meet these liabilities. The contract should be capable of being quickly converted to a ‘buy-out’ without seeking residual data risk cover or a need for further data cleanse work. There are no related DC liabilities to address in the section.