✓Tender information last checkedLast checked 6 Oct 2026, 17:02.
Opportunity overview
As part of its overall reward package for Bank employees, the Bank offers a non-contributary defined benefit pension as a core benefit. The Bank is looking to appoint a supplier who has the capability and capacity to provide Pension Administrative Services. The exact supply detail is set out in the Statement of Requirements.
The Term is 6 + 5 years. The value is estimated at £9M - £14M.
Classification
CPV66141000 — Pension fund management services
CPV66523100 — Pension fund administration services
Additional information from the published procurement release. Fields appear only when supplied by the source; check the original notice and tender documents before acting.
Steps to be followed;
1) Publish PSQ document. PSQ to be returned by 12:00 on 29th October 2026.
2) PSQ evaluation including qualitative assessment. Top 5 scoring suppliers shortlisted, following first phase evaluation / moderation. Unsuccessful bidders notified. Shortlist of 5 progress to ITT.
3) ITT submission at 12:00 on 8th February 2027 and initial evaluation.
4) Then supplier site visits and presentations from 15th March (ITT scores can decrease based on supplier validation exercise of Bank focus areas).
Final Moderation. Contract Award July 2027.
Reduced tendering period is not being used. Whilst every effort will be taken to meet published dates, they are indicative and may be subject to change.
Submission terms
Electronic Submission Policy
allowed
Languages
en
Tender Period
Ends
8 Feb 2027, 12:00
Enquiry period
Ends
15 Jan 2027, 12:00
Expected award period
Ends
1 Jul 2027, 23:59
Lots and requirements
Entry 1
Id
1
Status
active
Has Renewal
Yes
Value
Including VAT
14,000,000
Amount
11,200,000
Currency
GBP
Award criteria
Criteria
Criterion 1
Type
quality
Name
Quality
Numbers
Entry 1
Number
65
Weight
percentageExact
Criterion 2
Type
price
Name
Price
Numbers
Entry 1
Number
30
Weight
percentageExact
Criterion 3
Type
quality
Name
Social Value
Numbers
Entry 1
Number
5
Weight
percentageExact
Selection criteria
Criteria
Criterion 1
Type
economic
Description
Financial Capacity: Suppliers would be asked to demonstrate financial stability and capacity to fulfil the contract.
Criterion 2
Type
technical
Description
The Bank will assess PSQ Responses to confirm compliance with the Conditions of Participation, including financial capacity, legal and contractual capability, cyber, privacy and technical ability requirements. The Bank will also verify that Potential Suppliers, Associated Persons and Intended Sub-Contractors are not subject to debarment, exclusion or discretionary exclusion grounds. All Conditions of Participation will be assessed against the applicable minimum requirements, with non-compliant submissions excluded from further participation. For compliant submissions, the scored technical ability criteria set out in PSQ questions will be evaluated and moderated by the Bank to establish the ranking of Potential Suppliers. These technical ability questions are the sole scored element of the PSQ stage and will be used to determine progression to the next stage of the procurement process.
Contract period
Starts
1 Aug 2027, 00:00
Ends
31 Jul 2033, 23:59
Max Extent Date
1 Aug 2038, 00:59
Renewal
Description
The contract will be awarded for an initial term of six (6) years, with the option for the Bank to extend for a further period of up to five (5) years, exercisable at the Bank's discretion and subject to ongoing business requirements and satisfactory performance.
Buyer location · London · UKI31 · EC2R 8AH · United Kingdom
Delivery location · UK · United Kingdom
Notice and amendment history
2 published notice versions reviewed by ProcuraAxis.
2 VERSIONS
1
019557-2026Preliminary market engagement notice on Find a Tender ·
2
094375-2026Tender notice on Find a Tender ·
PROCURAAXIS ANALYSIS
ProcuraAxis Analysis
Our approved analysis of the opportunity appears below the official tender information.
ANALYSIS PREVIEW
Opportunity intelligence at a glance
Bank of England seeks a supplier to provide pension administrative services for its non-contributory defined benefit employee pension. The stated term is 6 years plus a possible 5-year extension; detailed scope is referenced in a Statement of Requirements that is not supplied.
Who this may suit
Relevant for providers with demonstrable capability and capacity to administer defined benefit pension arrangements.
Key points identified
Service capability and capacitySupplier must have capability and capacity to provide pension administrative services.Evidence: “The Bank is looking to appoint a supplier who has the capability and capacity to provide Pension Administrative Services.”
Detailed scopeSet out in a Statement of Requirements; contents are unknown from the supplied evidence.Evidence: “The exact supply detail is set out in the Statement of Requirements.”
Supplier eligibility criteriaUnknown.Evidence: No eligibility, economic/financial standing, technical-selection or exclusion criteria are supplied.
91% approved-analysis confidence5 supplier criteria identified3 risks or unknowns
ProcuraAxis structures information found in published procurement records, checks the result for consistency and publishes only approved analysis. Confidence describes the completeness and consistency of the available source information; it is not a guarantee of eligibility or contract award.
Bank of England seeks a supplier to provide pension administrative services for its non-contributory defined benefit employee pension. The stated term is 6 years plus a possible 5-year extension; detailed scope is referenced in a Statement of Requirements that is not supplied.
Who this may suit
Relevant for providers with demonstrable capability and capacity to administer defined benefit pension arrangements.
Key deliverables
Pension administrative services
Administration support for the Bank's defined benefit pension benefit
SUPPLIER REQUIREMENTS
5 criteria identified
Service capability and capacity
99% confidence
Supplier must have capability and capacity to provide pension administrative services.
View supporting evidence
“The Bank is looking to appoint a supplier who has the capability and capacity to provide Pension Administrative Services.”
Detailed scope
99% confidence
Set out in a Statement of Requirements; contents are unknown from the supplied evidence.
View supporting evidence
“The exact supply detail is set out in the Statement of Requirements.”
Supplier eligibility criteria
99% confidence
Unknown.
View supporting evidence
No eligibility, economic/financial standing, technical-selection or exclusion criteria are supplied.
SME suitability
99% confidence
Unknown.
View supporting evidence
The supplied opportunity marks suitable_for_sme as null.
VCSE suitability
99% confidence
Unknown.
View supporting evidence
The supplied opportunity marks suitable_for_vcse as null.
COMMERCIAL AND DELIVERY
Contract intelligence
Commercial
Estimated contract value
98% confidence
£9 million–£14 million stated in the description.
View supporting evidence
“The value is estimated at £9M - £14M.”
Structured opportunity value
99% confidence
£11.2 million.
View supporting evidence
Opportunity and lot 1 structured value_amount are £11,200,000.
Contract term
98% confidence
6 years plus 5 years.
View supporting evidence
“The Term is 6 + 5 years.”
Currency
99% confidence
GBP.
View supporting evidence
Structured opportunity currency is GBP.
Delivery
Delivery location
99% confidence
United Kingdom.
View supporting evidence
Delivery location is recorded as UK, United Kingdom.
Contract start date
99% confidence
Unknown.
View supporting evidence
No contract start date is supplied.
PROCEDURE
How to respond
Opportunity status
99% confidence
Open / active.
View supporting evidence
Display status is “open” and source status is “active”.
Procurement method
99% confidence
Open procedure using a competitive flexible procedure.
View supporting evidence
procurement_method is “open”; procurement_method_details is “Competitive flexible procedure”.
Submission deadline
99% confidence
8 February 2027, 12:00 UTC.
View supporting evidence
Structured submission_deadline is 2027-02-08T12:00:00Z for the opportunity and lot 1.
Lot structure
99% confidence
One active lot is supplied.
View supporting evidence
Lot 1 is the only supplied lot and is marked active.
RISKS AND UNKNOWNS
Points requiring attention
Scope visibility
99% confidence
The Statement of Requirements is not supplied, so detailed service, implementation, data, transition and performance requirements are unknown.
View supporting evidence
The description says exact supply detail is in the Statement of Requirements, but no such document content is supplied.
Value discrepancy
99% confidence
The narrative estimate (£9m–£14m) differs from the structured opportunity/lot value (£11.2m).
View supporting evidence
Description states “£9M - £14M”; structured value_amount is £11,200,000.
Notice date inconsistency
99% confidence
The process publication date (4 March 2026) differs from the tender-notice document publication/source-update date (6 October 2026).
View supporting evidence
process.published_at is 2026-03-04; document published_at and source_updated_at are 2026-10-06.
ProcuraAxis analysis supplements, but does not replace, the original notice and tender documents. Always verify eligibility, deadlines and commercial terms with the issuing authority.
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