ESB Defined Contribution Pension Scheme - Administration Services

Electricity Supply Board

ESB is Ireland's premier electricity utility, with a long and proud history of providing best in class pension plans. It established the current defined contribution scheme in 1991 to provide retirement and life assurance benefits for members. It is a distinct legal entity, separate in every respect from the principal employer. Trust deed and rules govern the Scheme. Life Insurance cover is provided under a separate policy.
The Administration of the ESB Defined Contribution Scheme is now up for renewal and we are now seeking expressions of interest from companies with regard to this. The Administration will also provide Pension Consultants to the trustees and manage the renewal of the Risk insurance cover.

Deadline

The time limit for receipt of tenders was 2014-05-19. The procurement was published on 2014-04-16.

Who? What? Where?
Procurement history
Date Document
2014-04-16 Contract notice
Contract notice (2014-04-16)
Object
Scope of the procurement
Title: Pension services
Quantity or scope:
ESB is Ireland's premier electricity utility, with a long and proud history of providing best in class pension plans. It established the current defined contribution scheme in 1991 to provide retirement and life assurance benefits for members. It is a distinct legal entity, separate in every respect from the principal employer. Trust deed and rules govern the Scheme. Life Insurance cover is provided under a separate policy.The Scheme has an annual cash flow of cEUR 12 m and assets of EUR 113 m, with 1,200 active members, the majority of which are in the 30-39 age group.Six investment strategies are currently offered to members ranging from a Cash Strategy to a high risk Specialist Equity Strategy. Alternatively, members can also choose, or be defaulted to, a Lifestyle Strategy. There are currently four investment managers offering a range of active and passive funds which are then packaged and unitised by a third party as “white labelled” investment strategies. The six strategies are as follows:-Cash Strategy-Bonds Strategy-Multi Asset Strategy-Global Equity Strategy-Specialist Equity Strategy-Lifestyle StrategyThe introduction of white labelling in 2009, together with its use of behavioural finance, the diversification of the lifestyle (or default) strategy and effective use of communication has helped the Scheme to win the best DC Pension Scheme in 2010, 2011 and 2012.The Administration of the ESB Defined Contribution Scheme is now up for renewal and we are now seeking expressions of interest from companies with regard to this. The Administration will also provide Pension Consultants to the trustees and manage the renewal of the Risk insurance cover.
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Notice metadata
Original language: English 🗣️
Document type: Contract notice
Nature of contract: Services
Regulation: European Union, with participation of GPA countries
Common procurement vocabulary (CPV)
Code: Pension services 📦

Procedure
Procedure type: Negotiated procedure
Type of bid: Submission for all lots
Award criteria
The most economic tender

Contracting authority
Identity
Country: Ireland 🇮🇪
Awarding authority type: Utilities entity
Awarding authority name: Electricity Supply Board
Postal address: 27 Lower Fitzwilliam St.
Postal code: 2
Postal town: Dublin
Contact
Internet address: http://www.esb.ie 🌏
E-mail: ssprocurement@esb.ie 📧
Phone: +353 17027962 📞
Fax: +353 16384797 📠

Reference
Dates
Date dispatched: 2014-04-16 📅
Submission deadline: 2014-05-19 📅
Publication date: 2014-04-19 📅
Identifiers
Notice number: 2014/S 078-137843
OJ-S issue: 78
Additional information
Contract duration will be for three years with an option to extend for a further two years by mutual consent.

Object
Scope of the procurement
Service category: 27
Short description:
ESB is Ireland's premier electricity utility, with a long and proud history of providing best in class pension plans. It established the current defined contribution scheme in 1991 to provide retirement and life assurance benefits for members. It is a distinct legal entity, separate in every respect from the principal employer. Trust deed and rules govern the Scheme. Life Insurance cover is provided under a separate policy.
Show more
The Administration of the ESB Defined Contribution Scheme is now up for renewal and we are now seeking expressions of interest from companies with regard to this. The Administration will also provide Pension Consultants to the trustees and manage the renewal of the Risk insurance cover.
Show more
Quantity or scope:
ESB is Ireland's premier electricity utility, with a long and proud history of providing best in class pension plans. It established the current defined contribution scheme in 1991 to provide retirement and life assurance benefits for members. It is a distinct legal entity, separate in every respect from the principal employer. Trust deed and rules govern the Scheme. Life Insurance cover is provided under a separate policy.
Show more
The Scheme has an annual cash flow of cEUR 12 m and assets of EUR 113 m, with 1,200 active members, the majority of which are in the 30-39 age group.
Six investment strategies are currently offered to members ranging from a Cash Strategy to a high risk Specialist Equity Strategy. Alternatively, members can also choose, or be defaulted to, a Lifestyle Strategy. There are currently four investment managers offering a range of active and passive funds which are then packaged and unitised by a third party as “white labelled” investment strategies. The six strategies are as follows:
Show more
-Cash Strategy
-Bonds Strategy
-Multi Asset Strategy
-Global Equity Strategy
-Specialist Equity Strategy
-Lifestyle Strategy
The introduction of white labelling in 2009, together with its use of behavioural finance, the diversification of the lifestyle (or default) strategy and effective use of communication has helped the Scheme to win the best DC Pension Scheme in 2010, 2011 and 2012.
Show more
The Administration of the ESB Defined Contribution Scheme is now up for renewal and we are now seeking expressions of interest from companies with regard to this. The Administration will also provide Pension Consultants to the trustees and manage the renewal of the Risk insurance cover.
Show more
Duration: 36 months
Reference number: SS/CON/1998

Legal, economic, financial and technical information
Conditions for participation
Suitability to pursue the professional activity:
(1) Company size, finance strength, number of staff, their experience and qualification.
(2) Details of similar contracts undertaken in the last 3 years, including the date completed, contracting authority and full reference contact details.
(3) Information of quality assurances system operated and professional accreditations held by the applicant company.
(4) Experience of Irish Legislation.
Economic and financial standing: Will be advised in tender document.
Contract execution
Legal form to be taken by the group of economic operators to whom the contract is to be awarded:
Where a grouping of service providers express interest, it shall be a requirement of ESB that one member of the group accepts full contractually responsibility for the delivery of the services. Where appropriate, the intended contractual responsible member of any grouping or consortium must be identified in responding to this notice.
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Procedure
Duration of the framework agreement in months: 36

Contracting authority
Contact
Contact point: Procurement Business Service Centre
Olive Halpin

Complementary information
Review body
Name: Chief Register
Postal address: The High Court, Four Courts, Inns Quay
Postal town: Dublin
Postal code: 7
Country: Ireland 🇮🇪
Phone: +353 18886000 📞
Source: OJS 2014/S 078-137843 (2014-04-16)
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