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| Source: | Find a Tender Service (FTS) |
| Notice Type: | Award notice |
| Buyer: | Isle of Wight Council |
| Main Category: | Services |
| Procurement Method: | Direct award |
| Method Rationale: | 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 £250833.00 (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's proposed timetables for introducing change, with in-principle decisions to be made by September 2025 by the Fund, regarding the Fund's partner investment pool company, also do not allow time to on-board any new supplier and ensure continuity of services. |
| Tender Status: |
All 3 notices for this procurement, oldest first.
Pension Fund: Investment Consultancy
Pension Fund: Investment Consultancy
Pension Fund: Investment Consultancy
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Awarded to
| Award value: | £250,000 |
| Award status: | Pending |
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’s Fit For Future consultation is known including the implications on the Fund’s investment advice going forward.
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| Estimated Value (ex. VAT): | Not specified |
| Release Date: | 4 July 2025 |
| Application Deadline: | — |
| Contract Start Date: | — |
| Contract End Date: | — |
| Contract Duration: | NaN years |
| Procurement ID (OCID): | ocds-h6vhtk-05595b |
| Notice Reference: | 037515-2025 |