Pension services

Tender description

MAG Airport Ltd is seeking to appoint a firm of Independent Financial Advisers (IFA) for an enhanced transfer value (‘ETV Exercise’) for deferred members of each of the 4 defined benefit pension schemes in MAG who are aged 54 or over as at 31.12.2019. MAG expects the ETV Exercise to follow the code of practice for incentive exercises and as part of this appoint a member adviser as defined in that code. MAG anticipates the ETV Exercise to commence from 1.12.2019 with the IFA in place to provide advice from Q1 2020 (calendar year). The contract will serve all of MAG currently Manchester, London Stansted and East Midlands Airports. There is no guarantee to the value or volume of work awarded under the contract. Further details are contained within the procurement documents. MAG Airport Ltd is seeking to appoint a firm of Independent Financial Advisers (IFA) for an enhanced transfer value (‘ETV Exercise’) for deferred members of each of the 4 defined benefit pension schemes in MAG who are aged 54 or over as at 31.12.2019. MAG expects the ETV Exercise to follow the code of practice for incentive exercises and as part of this appoint a member adviser as defined in that code. MAG anticipates the ETV Exercise to commence from 1.12.2019 with the IFA in place to provide advice from Q1 2020 (calendar year). The award of contract is subject to the intended provider authorised and regulated by the financial conduct authority who must explicitly take regulatory responsibility when issuing a recommendation report to a member and ensure adherence to industry regulatory practices for the scope of service to be provided. Based on portfolio of current potential members, the contract value is estimated to be circa 350 000 GBP to 400 000 GBP. There is no guarantee to the value or volume of work awarded under the contract. Further details are contained within the procurement documents.