Pensions Administration Services for the UoB Pension and Assurance Scheme

Tender description

The Trustees of the University of Bristol Pension and Assurance Scheme have decided to appoint a third party to administer the scheme. The University of Bristol, which currently administers the scheme, has been instructed by the Trustees of the Scheme to run a tender process with the intention of identifying and awarding a contract to the most economically advantageous tender. Pi Consulting (UK) Ltd has been engaged to assist with the process. Any decision to award a contract will require the approval of the Scheme's Trustees. At the date of the last annual report the scheme, which is closed to new members, had a total of 4,840 members, (968 active members, 1,565 pensioners, 211 dependants and 2,096 deferred pensions held in the fund). The scheme has assets of approximately 300 000 000 GBP. Essential services to be provided include, but are not limited to: Member record keeping — includes benefit calculations and preparation of annual benefits statements; Dealing with member cases directly (e.g. transfers, retirements, queries); Client reporting (e.g. admin reports or real time information); Liaison with death benefit insurers; Pensioner Payroll; Treasury and accounting (including cash management and preparation of annual report and accounts); Interfacing with the University of Bristol’s HR and Payroll system; Dealing with regulatory authorities; Attendance at Trustee meetings. Services of interest but not vital include: Online access for members and Trustees Possible ad hoc additional services include: Member Communication (e.g. production of an annual newsletter); Broking of group life insurance.