UK Government inviting bids for administering Royal Mail Statutory Pension Scheme
The UK Government has issued a tender document inviting companies to provide administration services for the Royal Mail Statutory Pension Scheme (RMSPS). The RMSPS transferred to the public sector in April 2012 and the current contract expires in March 2017.
The procurement documents are available at: https://gpsesourcing.cabinetoffice.gov.uk.
According to a notice posted on the website Tenderlake, the contract is valued at £31m.
The tender was issued on 16 November and the closing date for applications is 14 December. The contract will start on 1 April 2017 and run through to 1 October 2024.
The Cabinet Office tender document notes that this procurement “is solely for the pension administration services to the RMSPS”. However, the notice adds: “The successful pension administrator will be expected to work with Royal Mail Pension Plan’s (RMPP) pension administrator, Royal Mail Group Limited (RMG), with regard to those members who are beneficiaries in both RMSPS and RMPP.”
RMPP was established in 2012, to pay for benefits earned after 2012 (when Royal Mail was privatised).
According to the procurement notice: “RMSPS is currently the 6th largest public sector pension scheme in the United Kingdom. The RMSPS has approximately 402 000 deferred members and pensioners. Approximately 116,000 of these are also members of the RMPP.”
