Pension fund administration services

Tender description

This Prior Information Notice is a call for interested parties to submit information as part of a market sounding exercise (Request for Information (RFI)) prior to the possible placement of an OJEU Notice calling for tenders for the Provision of the Teachers’ Pension Scheme Administration for the UK Department for Education in England and Wales. We expect to place the OJEU Notice during late 2021 but it may differ in detail from the topics raised here: there is no guarantee that the OJEU Notice will be placed. In light of the current Covid-19 outbreak we wish to approach the market to establish how best to communicate and run pre-market engagement events. We welcome insight into how best we run pre-market events during the current pandemic such as: Industry Days Supplier Workshops And other Market Engagement options We wish to test a broad section of the market to help inform the options available to us, in delivering the scheme moving forward. The vision for the Teachers’ Pensions Scheme (TPS) is ’to ensure that the TPS offers an attractive, clear and cost-effective contribution to the total reward package for teachers, and thus, that it plays a full part in recruiting and retaining an excellent teaching workforce. To support the DfE the TPS administration will be accepted as the best administered UK public service pension scheme. Providing an effective, fully digital, personalised service to our members with our partners at the centre of the administration design and future development.’ The TPS is the second largest pension scheme in the UK after the NHS. It is a statutory, unfunded, defined benefit occupational pension scheme split into three distinct sections: • the Normal Pension Age (NPA) 60 section • the NPA 65 section (note: both these sections provide benefits based on final salary and length of service) • the 2015 section provides benefits based on career average earnings (CARE) and has a normal pension age equal to state pension age.