Insurance and pension services

Tender description

This award notice is to notify the Award of a full managed solution for implementation of a salary sacrifice shared cost scheme in respect of added voluntary contributions (AVC’s) on a shared cost basis within the Local Government Pension Scheme (LGPS) including employee applications, salary sacrifice payroll data and integration with the AVC provider application and reporting processes. [This is where an employee opts to pay AVC’s under Regulation 17 of the LGPS Regulations 2013 (the 2013 Regulations); an employer can decide to also contribute to that employee’s AVC arrangement.] The Council required expertise to assist them in the implementation of the scheme and to increase its membership. The salary sacrifice shared cost AVC (SS SC AVC) scheme for employees is one that will maximise National Insurance (NI) Contributions savings for both employees and the local authority through the salary sacrifice arrangement. The successful supplier will be expected to: — provide a fully managed solution to facilitate the implementation, promotion and administration of such a scheme; — provide an online system which is accessible to all employees as per the new accessibility regulation (September 2019); — work with the Council to promote the scheme to KCC employees, including provision of suitable material to be shared through various media and running briefing sessions for employees.