BBC Group Pension Plan

The BBC is seeking to appoint a provider to operate its Defined Contribution DC pension arrangement "LifePlan", currently delivered via a Group Personal Pension GPP structure and a Master Trust for non-UK based employees e.g. Channel Islands. The BBC is acting on its own behalf as the Public Service and on behalf of BBC Studioworks Limited, BBC Global News Limited, BBC Studios Distribution Limited, BBC Studios Productions Limited and BBC Children in Need and its other BBC subsidiaries from time to time as notified by BBC pursuant to the Contract.

LifePlan is currently structured as a Group Personal Pension Plan “GPP” and is predominantly available to BBC staff who joined after 30 November 2010. LifePlan is also available to eligible staff who joined before 1 December 2010, although ordinarily employees who joined before this date would be members of the BBC Pension Scheme, a defined benefit arrangement.

The BBC is seeking participation from suitably experienced pension providers and organisations capable of delivering a high-quality, resilient and future-focused workplace DC pension arrangement for a large and complex employer environment. The appointed pension plan provider will be expected to operate and support LifePlan via either a Master Trust or a combination of a GPP and a Master Trust, including selecting and managing the range of funds available within the arrangement and providing digital functionality, including a portal through which eligible BBC employees can access, choose and manage their pension savings.

The requirement is expected to include, where relevant: - Group Personal Pension and Master Trust provision - investment proposition, fund range and governance - member communications, engagement and digital tools - implementation and transition support - data and payroll integration - employer reporting and management information - governance support and related pension services. The BBC is looking for a provider with the capability, scale, resilience and long-term commitment to support a competitive workplace pension arrangement that delivers value for members, supports good member outcomes, and can evolve with market, regulatory and workforce expectations over the life of the contract.

The contract values presented are based on a number of assumptions. Full details of the assumptions and methodology used to derive the contract value are set out in the tender documentation.

As such, depending on the application of these assumptions in practice, the actual value of the contract may be higher or lower than the value stated. The contract dates provided are indicative only and may be subject to change to accommodate transition, implementation and other operational requirements.

This procurement will be conducted using the Competitive Flexible Procedure. Further details of the procedure to be followed and relevant commercial information will be set out in the procurement documentation.