Sole Trustee for the UoB Pension and Assurance Scheme

Tender description

The University of Bristol is seeking to procure independent professional Sole Trustee Services for the University of Bristol Pension & Assurance Scheme. Lot 1: The University’s is seeking to appoint a Sole Corporate Trustee Provider who adds value to the governance of the Scheme and its objectives, in the interests of both the Scheme’s members and the University, as principal employer. The Sole Corporate Trustee Provider must protect members’ interests, safeguard and strategically manage the investment of Scheme assets (with the Fiduciary Manager), monitor, manage, mitigate or eliminate risks and ensure the short, medium and longer-term funding needs of the Scheme are met. Beyond this, the Sole Corporate Trustee Provider will take the initiative and develop and implement a strategy that seeks to deliver the Scheme’s long-term funding objective within or before expiry of the stated timeframe. In so doing it will remain flexible and adaptable and will seek to identify innovative solutions to drive efficiency to meet the objective more cost effectively or ahead of time or to further mitigate or eliminate any risk to the Scheme, its members and the university. Throughout its tenure, the Sole Corporate Trustee Provider must ensure that the Scheme remains fully compliant with the legal and regulatory environment and the Scheme’s constitution and that it maintains an effective system of governance. At all times the Sole Corporate Trustee Provider will be mindful of the need to provide a cost effective, proportionate, transparent and high-quality service to the Scheme and the University, as principal employer. The Sole Corporate Trustee Provider will be expected to operate as Sole Corporate Trustee in line with the values which have historically applied to UBPAS trusteeship, these being; I. to treat member interests and fairness as a very high priority; and II. to gain an in depth understanding of the covenant, the UoB business model and thereby interact effectively with the University finance function Additional information: The estimated total value quoted in II.1.5 is estimated over 12 years.