TRHS0016 Provision of Pension Scheme for the Euston Delivery Company

Description

The Department of Transport (DfT) on behalf of the Euston Delivery Company (EDC) (“Buyer”) has appointed a pension provider for the provision of a pension scheme. The EDC is a new government-owned organisation so is not part of the civil service and is not covered by the current civil service pension arrangements. The service required is the provision of a qualifying workplace pension scheme for a new government-owned company. The pension scheme will be established for a maximum expected workforce of 60 EDC employees, who will be eligible to join the EDC pension scheme. It is anticipated that, once the EDC is fully operational, the average annual salary will be approximately £80,000.00. Employer contributions are anticipated to range between 10%-12% and employee contributions are anticipated to range from 3%-6% of pensionable salary. As the organisation is newly established, the average salary is an estimate based on the expected roles required by the EDC and the company’s remuneration strategy which will follow public sector guidelines and professional pay benchmarking. This figure is therefore provided for indicative purposes only and should not be relied upon as a guaranteed or definitive salary level. The DfT is procuring the Services under this Contract. It is anticipated that, following contract award, responsibility for the Contract will be transferred from DfT to the EDC. The Contract will be novated to the EDC on terms to be agreed with the successful Tenderer (“Supplier”), at which point the EDC shall assume all rights, obligations and liabilities under the Contract from the effective date of novation.