Pension Fund: Investment Consultancy

{
  "awards": [
    {
      "id": "1",
      "items": [
        {
          "additionalClassifications": [
            {
              "description": "Pension fund management services",
              "id": "66141000",
              "scheme": "CPV"
            }
          ],
          "deliveryAddresses": [
            {
              "country": "GB",
              "countryName": "United Kingdom",
              "region": "UKJ34"
            }
          ],
          "id": "1",
          "relatedLot": "1"
        }
      ],
      "mainProcurementCategory": "services",
      "relatedLots": [
        "1"
      ],
      "status": "active",
      "suppliers": [
        {
          "id": "GB-COH-OC310282",
          "name": "Hymans Robertson LLP"
        }
      ]
    }
  ],
  "buyer": {
    "id": "GB-PPON-PGYX-7387-YJXG",
    "name": "Isle of Wight Council"
  },
  "contracts": [
    {
      "aboveThreshold": true,
      "awardID": "1",
      "dateSigned": "2025-07-17T00:00:00+01:00",
      "documents": [
        {
          "datePublished": "2026-01-29T17:14:48Z",
          "description": "Contract details notice on Find a Tender",
          "documentType": "contractNotice",
          "format": "text/html",
          "id": "008237-2026",
          "noticeType": "UK7",
          "url": "https://www.find-tender.service.gov.uk/Notice/008237-2026"
        }
      ],
      "id": "1",
      "period": {
        "endDate": "2026-07-17T23:59:59+01:00",
        "startDate": "2025-07-18T00:00:00+01:00"
      },
      "status": "active",
      "title": "Pension Fund: Investment Consultancy",
      "value": {
        "amount": 250000.0,
        "amountGross": 300000.0,
        "currency": "GBP"
      }
    }
  ],
  "date": "2026-01-29T17:14:48Z",
  "id": "008237-2026",
  "initiationType": "tender",
  "language": "en",
  "ocid": "ocds-h6vhtk-05595b",
  "parties": [
    {
      "address": {
        "country": "GB",
        "countryName": "United Kingdom",
        "locality": "Newport",
        "postalCode": "PO30 1UD",
        "region": "UKJ34",
        "streetAddress": "County Hall"
      },
      "contactPoint": {
        "email": "procurement@iow.gov.uk"
      },
      "details": {
        "classifications": [
          {
            "description": "Public authority - sub-central government",
            "id": "publicAuthoritySubCentralGovernment",
            "scheme": "UK_CA_TYPE"
          }
        ],
        "url": "http://www.iow.gov.uk"
      },
      "id": "GB-PPON-PGYX-7387-YJXG",
      "identifier": {
        "id": "PGYX-7387-YJXG",
        "scheme": "GB-PPON"
      },
      "name": "Isle of Wight Council",
      "roles": [
        "buyer"
      ]
    },
    {
      "address": {
        "country": "GB",
        "countryName": "United Kingdom",
        "locality": "London",
        "postalCode": "EC2Y 5EA",
        "region": "UKI31",
        "streetAddress": "One London Wall"
      },
      "contactPoint": {
        "email": "craig.alexander@hymans.co.uk"
      },
      "details": {
        "publicServiceMissionOrganization": false,
        "scale": "large",
        "shelteredWorkshop": false,
        "vcse": false
      },
      "id": "GB-COH-OC310282",
      "identifier": {
        "id": "OC310282",
        "scheme": "GB-COH"
      },
      "name": "Hymans Robertson LLP",
      "roles": [
        "supplier"
      ]
    }
  ],
  "tag": [
    "award",
    "contract"
  ],
  "tender": {
    "description": "Short term 12-month investment consultancy contract, based on the terms of the existing contract to allow continuation of services until a full formal tender process can be run and the outcome of the Government\u0027s Fit For Future consultation is known including the implications on the Fund\u0027s investment advice going forward.",
    "documents": [
      {
        "description": "Not published",
        "documentType": "conflictOfInterest",
        "id": "conflictOfInterest"
      }
    ],
    "id": "DN780802",
    "legalBasis": {
      "id": "2023/54",
      "scheme": "UKPGA",
      "uri": "https://www.legislation.gov.uk/ukpga/2023/54/contents"
    },
    "lots": [
      {
        "id": "1",
        "status": "complete"
      }
    ],
    "procurementMethod": "direct",
    "procurementMethodDetails": "Direct award",
    "procurementMethodRationale": "The Authority has a contract with Hymans Robertson for the provision of Investment Consultancy Services since 10 July 2018 that is expiring on 9 July 2025 let via LGPS Investment Management Consultancy Services Framework . The average annual spend over this period was \u00a3250833.00 (Ex VAT). The Authority intends to direct award a 12 month contract to the current supplier. The Authority is direct awarding to the current supplier as using a different supplier during the middle of the valuation would disrupt continuity and potentially increase costs due to duplication of existing work that has already started, therefore this is the only supplier that can continue with this. The significant changes being proposed by the Government, which need to be implemented by March 2026, do not allow time for a new suppler to gain sufficient depth of knowledge and/or understanding about the Isle of Wight Pension Fund. The Government\u0027s proposed timetables for introducing change, with in-principle decisions to be made by September 2025 by the Fund, regarding the Fund\u0027s partner investment pool company, also do not allow time to on-board any new supplier and ensure continuity of services.",
    "procurementMethodRationaleClassifications": [
      {
        "id": "singleSuppliersTechnicalReasons"
      }
    ],
    "specialRegime": [
      "concession"
    ],
    "status": "complete",
    "title": "Pension Fund: Investment Consultancy"
  }
}