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Salary Sacrifice Cost Framework for additional voluntary contributions (SSAVCs)
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Descriptions
Portsmouth City Council ('the council') is seeking to establish a single supplier Framework agreement for the provision of a Salary Sacrifice Additional Voluntary Contribution (AVC) scheme.The Framework will also be open for access by other UK Public Sector Organisations which include UK Public Sector Bodies, including Central Government, Local Authorities, Health, Police, Fire and Rescue, Education and Devolved Administrations.Portsmouth City Council introduced the first Salary Sacrifice Additional Voluntary Contribution (SSAVC) in the UK and currently delivers the service in house. The Authority are now looking for a framework to be established to enable the service to be delivered by an external provider.SSAVCs are currently available to employers with Local Government Pension Scheme (LGPS) and NHS Pension Scheme members (this may be expanded to other organisations at a later date), and it is an employer's decision whether they implement a scheme. The key advantages are that SSAVC members can achieve significant growth figures on their savings whilst at the same time the employer also makes savings.A full list of Authorities able to access the agreement can be found in appendix 1 of the tender documents.In setting up the Framework, the Council does not guarantee that any call-offs contracts will be awarded once the Framework is procured, that no form of exclusivity will be created and provides no guarantee of volume of work from either itself of other contracting authorities.
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Tender Regions
CPV Codes
66520000 - Pension services
66500000 - Insurance and pension services
66100000 - Banking and investment services
Keywords
banking services
asset placement
capital markets
pension planning
pension services
risk protection
portfolio funding
investment facilitation
retirement fund services
pension fund management
pension administration
pension scheme services
financial brokerage
retirement funding
pension system operation
pension scheme operation
financial intermediation
insurance offerings
coverage solutions
investment advisory
financial operations
insurance services
market investment services
life and non-life insurance
pension planning services
pension disbursement services
financial safeguard services
employee pension services
retirement benefit management
retirement fund administration
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