RM6326

Tender description

This Award Notice relates solely to Lot 2: Procurement for the provision of pension administration for the Royal Mail Statutory Pension Scheme (RMSPS). The RMSPS is managed by the Authority. The current contract expires on 30 September 2024. The RMSPS is the 6th largest public sector pension scheme in the United Kingdom, with approximately 365,000 members Lot Lot 2: Procurement for the provision of pension administration for the RMSPS The provision of administration services for the RMSPS. The pension administration services include the following: finance, accounting and taxation services; administration services; interactions with members including portal provision/self-service; maintenance of accurate and clean member and scheme data; member communications (including managing and operating a helpline and website, issuing annual benefits statements, lifetime allowance statements, annual pension increase communications, scheme newsletters and leaflets); pension payroll services (bulk and individual payroll services) and pensioner existence checking; accurate and timely calculation of pension benefits; reporting, including management information and provision of data, information and scheme returns to regulators and other bodies as needed; working with the Royal Mail Pension Plan (RMPP) pension administration providers and set up processes for the timely sharing of data, information and calculations as required to enable the processing of benefits for members including AVC benefits; interaction with RMPP’s pension administration providers and Royal Mail Group and Post Office Limited as employers of RMSPS beneficiaries as appropriate to align as far as possible timeliness and content of communications to members; and liaison with any scheme medical advisor that may be appointed by the Authority. Additional information: The total value provided is based on a total contract period of 114 months including transition and potential extension options