The Contracting Entity proposes to engage in a competitive process for the establishment of a contract for the provision of Defined Contribution DC Pension Plan services via a Master Trust arrangement. The existing scheme was established in 2005 for all new employees joining the Company from that date. Governance is currently provided through a standalone Trust with independent professional trustees. Administration and investment options are managed by an insurance company. There are currently approximately 110 employees who are members of the Scheme, with combined annual contributions of approximately €2.5 million. The Contracting Entities’ main objectives in moving to a Master Trust are to achieve cost efficiency, improve member engagement and investment solutions. Full description of requirements are in the PQQ