Are Capita's days numbered?

[RobertT]

https://www.pensions-expert.com/DB-Deri ... -new-admin

The Cabinet Office is weighing up administrators for the Civil Service Pension Scheme.*

The tender notice, published on February 7, is comprised of two separate lots — one for the CSPS and another for the Royal Mail Statutory Pension Scheme, worth £262mn and £48mn respectively.

Lot one covers administration services for the CSPS, with the overall aim being to transform the administration of the scheme, especially regarding member experience.

“Suppliers must demonstrate a commitment to and track record for delivering incremental and continuous improvement,” the notice stated.

Services will include financial, accounting and taxation services, administration services, employer-related services, provision of calculations, and information for annual resource accounts remuneration reports and member-related services.

The current administrator, MyCSP, saw its contract extended in February 2021 until the end of 2023. It has been invited to re-tender for the contract.*

MyCSP has been administering the public sector scheme since 2012 and provides services to more than 1.5mn active, deferred and retired members, working with around 350 employers.

During MyCSP’s tenure, half of £2.7mn in overpayments to civil service pensioners were discovered, which the government started to recoup in 2019*.

Both contracts will run for 12 years and are not subject to renewal.

[RobertT]

A bit more info here: https://bidstats.uk/tenders/2022/W06/768410113

Lot 2 Procurement for the provision of pension administration for the Royal Mail Statutory Pensions Scheme (“RMSPS”)

The RMSPS Pension Scheme is managed by the Authority. The current contract expires on 31/09/2024.

The authority wants to ensure the members get the excellent service that they rightly expect. Above all we want to ensure that the right people get the right benefits at the right time and at the right cost to the taxpayer.

This procurement is solely for the pension administration services to the RMSPS. 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. RMSPS is currently the 6th largest public sector pension scheme in the United Kingdom, with approximately 365,000 members. The scheme has no active members so there are no accruing costs or contributions.

Procurement for the provision of pension administration for the Royal Mail Statutory Pensions Scheme (“RMSPS”)
Duration: 9.5 year
Value: £48M
The Authority requires the provision of administration services for the RMSPS.

The pension administration services required include the following: Pension Administration services are required for the following two membership profiles:(1) RMSPS scheme members with no benefits in the RMPP and (2) RMSPS scheme members with benefits in the RMPP.

The pension administration services required for membership profiles 1 and 2 include the following:- Finance, accounting and taxation services, administration services, interactions with members including portal provision/self-service, maintaining accurate and clean member and scheme data member communications (including managing and operating a helpline and website, issuing annual benefits statements, lifetime allowance statements, annual pension increase communications, scheme newsletters and leaflets, pension payroll services (bulk and individual payroll services) and pensioner existence checking accurate and timely calculation of pension benefits reporting., including management information and provision of data, information and scheme returns to regulators and other bodies as needed Membership profile 2 includes the following supplementary requirements: to work with RMPP’s pension administration providers and set up processes for the timely sharing of data, information and calculations as required to enable the processing of benefits for members including AVC benefits.

Interaction with RMPP’s pension administration providers and RMG and Post Office Limited as employers of RMSPS beneficiaries as appropriate to align as far as possible timeliness and content of communications to members.

liaison with any scheme medical advisor that may be appointed by the Authority.

The tender documents will include more information on these requirements.

Potential bidders' suitability to participate will be assessed using the Selection questionnaire (SQ).

The Authority anticipates that no more than the top 8 bidders will be invited to the ITN stage.

Further details are set out in the procurement documents.

[fly-catchers]

"The authority wants to ensure the members get the excellent service that they rightly expect.." So that counts Capita out anyway!

[Hyrrokkin]

Are RM bidding for this contract ?

[NWpostie]

Are RM bidding for this contract ?

It would be nice if It was brought in house joining up both schemes under one administration.

[RobertT]

The reason the contract was put out to tender a few years ago was because the Cabinet Office wanted to save money and Capita were willing to do it for less than the RMPP and presumably the other bidders.

It would make much more sense to bring it all back under one roof, but I suspect money will be a major factor.

I would hope the RMPP will bid for it and get it. If not, then hopefully the atrocious job Capita have done will mean they won't even be considered.