Pensions Actuarial Advisory Services Framework

National Grid is seeking to establish a multi-supplier framework agreement for the provision of Pensions Actuarial Advisory Services and related pensions, employee benefits, risk management, governance, and advisory support services across its UK pension arrangements. The framework will support both business-as-usual activities and project-based requirements and will be available for use by National Grid and its associated entities.

The framework is intended to provide access to suitably qualified suppliers capable of delivering specialist advice and support across a range of areas, including but not limited to: Pensions actuarial and accounting advice. Pension scheme funding and investment strategy support.

Governance and regulatory advisory services. Pension benefit design and reward strategy.

Corporate transactions, mergers and acquisitions support. Pension risk management and financial wellbeing advisory services.

Employee benefits and related consultancy services. National Grid intends to appoint up to nine (9) suppliers to the framework.

The framework will operate through individual call-off engagements awarded either through direct award or mini-competition, depending on the nature of the requirement and the capabilities required. National Grid does not guarantee any minimum volume or value of work under the framework.

The estimated value of the framework is £5.2 million over its full potential term, comprising an initial five (5) year term with the option to extend for up to three (3) additional one-year periods. Services will be supplied on an as-needed basis in accordance with the framework agreement and the requirements of individual call-off engagements.