THIS IS A VOLUNTARY NOTICE AS THE TRUSTEES OF THE NI ASSEMBLY MEMBERS' PENSION SCHEME ARE NOT GOVERNED BY THE PUBLIC CONTRACTS REGULATIONS 2006.
The Trustees of the NI Assembly Members' Pension Scheme wish to appoint an Investment Manager to invest the funds of the Assembly Members' Pension Scheme. The Trustees believe that the current size of the Scheme's assets is not sufficient to allow a widely diversified portfolio of investments, if the assets were to be directly invested in bonds, stocks and shares. Therefore the most effective way of investing Scheme assets, with suitable diversification and at a reasonable cost, may be to use pooled fund vehicles run by an independent investment management company.
As pension provision is long term by nature, the Trustees are seeking to appoint an investment manager who can be expected to deliver excellent returns in the medium and long term, while having due regard to risks and short term volatility. The approach adopted could be either a single managed fund or a diversified growth fund (where the mix of assets is determined by the investment manager), or a combination of separate funds for the main asset classes with the allocation of assets being determined after discussion with the Fund Trustees.
The Scheme currently has five Trustees, all are serving Members of the Northern Ireland Assembly (MLAs). The Trustees are responsible for the management and administration of the Scheme, including the appointment of the Investment Manager. The day-to-day administration of the scheme is provided by Secretariat staff of the Assembly's Corporate Services Directorate with some routine services outsourced.
Ref: No reference provided,
Northern Ireland Assembly Commission on behalf of the Trustees of the Assembly Members' Pension Scheme
Procurement Office, Ballymiscaw, Stormont, Northern Ireland
For the attention of: Michael Baird
BT4 3XX Belfast
Telephone: +44 2890488308
General address of the contracting authority: www.niassembly.gov.uk
Further information can be obtained from: The above mentioned contact point(s)
Specifications and additional documents (including documents for competitive dialogue and a dynamic purchasing system) can be obtained from: The above mentioned contact point(s)
Tenders or requests to participate must be sent to: The above mentioned contact point(s)
Contract value: The Pension Scheme is a defined benefit scheme with a normal retirement age of 65, although there is provision for members to retire earlier on ill-health and actuarially reduced early retirement grounds. The liabilities of the pension scheme are linked to salaries for members in service and to price inflation for deferred pensioners and current pensioners (currently the Consumer Prices Index).There are 105 active members of the pension scheme, 38 deferred pensioners and 72 pensioners in receipt of a pension.Estimated value excluding VAT: 700 GBP
Published: 22 Dec 2012, Receipt by: 15 Jan 2013
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