Pension Administrative Services
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Key information
Overview
As part of its overall reward package for Bank employees, the Bank offers a non-contributary defined benefit pension as a core benefit. The Bank is looking to appoint a supplier who has the capability and capacity to provide Pension Administrative Services. The exact supply detail is set out in the Statement of Requirements. The Term is 6 + 5 years. The value is estimated at £9M - £14M.
Renewal: The contract will be awarded for an initial term of six (6) years, with the option for the Bank to extend for a further period of up to five (5) years, exercisable at the Bank's discretion and subject to ongoing business requirements and satisfactory performance.
Procurement Act 2023
Competitive flexible procedure
https://www.bankofengland.co.uk/contact/supplying-goods-and-services/how-to-become-a-supplier