Provision of pension governance services

The Legal Services Board (LSB) is looking to appoint a suitably qualified provider of pension governance services. As a very small organisation, we do not have in-house pension expertise.

We are looking for a supplier who can work in partnership with the LSB to deliver pension governance and associated services to a high standard.

Our aim is to appoint a supplier to provide pension governance services to the LSB for an initial term of three years, from 1 November 2023 and 31 October 2026 with the potential for an extension.

Specification of services required (this will form part of the Contract)

• Annual Pension Governance report including: (a) Evaluation of pension scheme performance in the past year (to 30 June) and benchmarking to comparator performance in the pension market, and (b) Recommendation of external pension provider.

• Remuneration Committee (RNC) presentation in February annually.

• Meeting with the executive pension committee in January (CEO, Director of Enabling Services, Head of Finance and IT, and HR lead).

• Available to answer queries once the Pension Governance report has been prepared (approx.one/two hours needed).

• Annual Pensions presentation to all LSB colleagues (annually in March).

• Annual one-to-one sessions with LSB colleagues on request (annually in March).

• Review and update of LSB pensions booklet and admin forms periodically (approximately every two years).

• Participate in any internal or external audit of LSB pension arrangements as required

A tender is required which should include method statements, but not be limited to:

• A description of how you would work with us.

• A description of how you will meet the service specification requirements listed above. A fully costed proposal with fixed and variable costs, including VAT. Where possible this should be broken down into annual or one-off costs, including any set up fees.

• Completion of the Supplier form and EDI form.

All tender submissions should be submitted by 23.59pmon 31 August 2023 to tenders@legalservicesboard.org.uk . Submissions submitted to other addresses or beyond this time will not be accepted.

The full ITT is attached to this notice.