Financial systems software package

Description

Norfolk County Council, on its own behalf and on behalf of the Cheshire Pension Fund; Clwyd Pension Fund; Essex Pension Fund; Merseyside Pension Fund; Norfolk Pension Fund; Northern Ireland Local Government Officers Superannuation Committee (NILGOSC); South Yorkshire Pension Fund; Surrey County Council; Tyne and Wear Pension Fund; West Midlands Pension Fund; and West Yorkshire Pension Fund wish to let a multi-provider, Framework Agreement for the provision of Pension Administration Software primarily in support of the Local Government Pension Scheme (LGPS). The framework will be for a period of 4 years. However, it may be agreed that call offs may be for an extended period. In order to administer the Local Government Pension Scheme (LGPS) a number of funds require pension administration software to provide benefit entitlement calculations and payments in compliance with relevant LGPS Regulations. Option additional requirements may include provision of an on-line self-service facility for pension scheme members (including current employees, members with deferred benefits and those already in receipt of pension benefits). The system may also be required to provide an on-line portal for use by the various employer organisations participating in the pension scheme. Currently LGPS funds are undertaking individual procurements for these requirements. The proposed Framework Agreement will remove the need to independently undertake full European Union (OJEU) procurements, retain local definition and decision making and leverage our combined buying power. Saving time and money for Providers and Administering Authorities. The Local Government Pension Scheme (LGPS) is one of the largest Defined Benefit (DB) schemes in the world and is the largest DB scheme in England and Wales, with over 14 000 employers, 5 600 000 members and assets of 263 000 000 000 GBP (as at March 2017), in addition, the framework will be available to local pension funds in Scotland and Northern Ireland Local Government Officers Superannuation Committee (NILGOSC); The 5 600 000 members are made up of 1 964 000 Active members, 2 078 000 Deferred members and 1 642 000 Pensioner members.