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PROCUREMENT OPPORTUNITY

2026/27 Pension Fund - Investment Advice

Nuclear Restoration Services Limited · Contract details notice on Find a Tender

Tender information last checkedLast checked 27 Sept 2026, 13:22.

Opportunity overview

The Trustee has appointed Aon as Investment Adviser to the Electricity Supply Pension Scheme (ESPS). The appointment is in line with legislative requirements which mandate that pension scheme trustees obtain advice from a suitably qualified and regulated investment adviser. In accordance with the ESPS Trust Deed and Rules, costs associated with investment advice are permitted to be charged directly to the pension fund. These costs are not paid directly by the employer but are instead recharged to the Scheme and met from Scheme assets, which are ultimately funded by employer contributions.

Awarded to

Amounts belong to published awards or contracts. Where several suppliers share one value, it is labelled as shared and is not a supplier-specific allocation.

AON Investments Limited

Matched by number
Contract value
£1.6m
Awarded
Not supplied
Contract signed
29 Jun 2026
Including VAT
£2m
Award ID
2
Status
active
Identifier
GB-COH 05913159
Location
LONDON, UKI31, EC3V 4AN, United Kingdom

Classification

No classification was supplied.

Lots

  • Lot 1Value not stated

Documents and notices

Published notice details

Additional information from the published procurement release. Fields appear only when supplied by the source; check the original notice and tender documents before acting.

Scope, procedure and submissions

Id
C31883
Status
complete
Procurement Method
direct
Procurement Method Details
Direct award
Why this procedure was chosen
The contract has been directly awarded to AON in accordance with the requirements of the Electricity Supply Pension Scheme (ESPS) Trustee. The Trustee is legally obligated to appoint a suitably qualified and regulated Investment Adviser to support the effective governance and management of the Scheme. AON is the incumbent Investment Adviser formally appointed by the Trustee and provides regulated investment advisory services to the ESPS. As this appointment sits solely with the Trustee, the employer does not have the authority to appoint an alternative provider or to competitively tender this requirement. In line with the ESPS Trust Deed and Rules, investment advisory fees are required to be met from the Scheme and are therefore recharged to the pension fund rather than being directly procured and paid for by the employer. These costs represent the only category of expenditure that may be charged directly to the Scheme in this way. This award is an administrative task by NRS to enable the processing and management of these charges rather than a procurement decision. Competition is not applicable in this instance, and a direct award to AON is the only compliant and appropriate route.

Legal basis

Id
2023/54
Scheme
UKPGA

Procedure reasons

Entry 1
Id
userChoice

Lots and requirements

Entry 1
Id
1
Status
complete

Published documents

Entry 1
Id
conflictOfInterest
Document Type
conflictOfInterest
Description
Not published

Buyer, suppliers and contacts

Organisation 1
Name
Nuclear Restoration Services Limited
Id
GB-PPON-PXPQ-2228-DGTY

Identifier

Scheme
GB-PPON
Id
PXPQ-2228-DGTY

Address

Street Address
Hinton House, Birchwood Park Avenue, Risley
Locality
Warrington
Postal Code
WA3 6GR
Country
GB
Country Name
United Kingdom
Region
UKD61

Contact

Name
Alwena Owen

Roles

buyer

Details

Classifications

Entry 1
Scheme
UK_CA_TYPE
Id
publicAuthoritySubCentralGovernment
Description
Public authority - sub-central government
Organisation 2
Name
AON Investments Limited
Id
GB-COH-05913159

Identifier

Scheme
GB-COH
Id
05913159

Address

Street Address
The Aon Centre, The Leadenhall Building, 122 Leadenhall Street
Locality
LONDON
Postal Code
EC3V 4AN
Country
GB
Country Name
United Kingdom
Region
UKI31

Contact

Roles

supplier

Details

Scale
large
Vcse
No
Public Service Mission Organization
No
Sheltered Workshop
No

Award information

Award 1
Id
2
Status
active
Main Procurement Category
services

Items

Item 1
Id
1
Related Lot
1

Additional Classifications

Entry 1
Scheme
CPV
Id
66520000
Description
Pension services

Suppliers

Supplier 1
Id
GB-COH-05913159
Name
AON Investments Limited

Related lots

1

Contracts and changes

Entry 1
Id
2
Award ID
2
Title
2026/27 Pension Fund - Investment Advice
Status
active
Above Threshold
Yes
Date Signed
30 Jun 2026, 00:00

Period

Starts
1 Jul 2026, 00:00
Ends
31 Mar 2027, 23:59

Value

Including VAT
1,952,400
Amount
1,627,000
Currency
GBP

Agreed Metrics

Entry 1
Id
0053
Title
Overall investment advisory performance
Description
Delivery of high-quality, timely and compliant investment advice aligned to scheme objectives, supported by effective governance, risk management and regulatory oversight.

Observations

Entry 1
Id
frequency

Period

Duration In Months
3

Documents

Entry 1
Id
061738-2026
Document Type
contractNotice
Notice Type
UK7
Description
Contract details notice on Find a Tender
Published
1 Jul 2026, 13:34
Format
text/html

Recorded locations

  • Buyer location · Warrington · UKD61 · WA3 6GR · United Kingdom

Notice and amendment history

2 published notice versions reviewed by ProcuraAxis.

2 VERSIONS
  1. 055398-2026Transparency notice on Find a Tender ·
  2. 061738-2026Contract details notice on Find a Tender ·