‘How to save your fund time and money Through collaborative procurement’ Nicola Mark, Head of the Norfolk Pension Fund 18 th Annual LAPFF Conference 4-6.

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Presentation transcript:

‘How to save your fund time and money Through collaborative procurement’ Nicola Mark, Head of the Norfolk Pension Fund 18 th Annual LAPFF Conference 4-6 December 2013

What are the National LGPS Frameworks? We all have to buy specialist services We all have to comply with Public Contracts Regulations National LGPS Frameworks are an OJEU compliant procurement vehicle Remove the need to independently undertake full European union (OJEU) procurement Retain local service definition and decision making

How does it work? National LGPS Frameworks do this You just need to do this

How will they save my Fund time and money? Efficient Agreed Terms and Conditions Best practice procurement Deliver value for money Further competition Shared benefits Opportunities for wider public sector use

Open to all LGPS Funds Currently no obligation to use: greater use = greater benefits Retain local service definition Retain local decision making and accountability Save time and money on your procurement (from 6-12 months to 4-8 weeks) Benefit from pre agreed T’s and C’s and ceiling prices Share in the collaborative rebate

Good for suppliers too: Faster and consistent procurement process = new business known quicker! Greater flexibility to fit procurement processes into business requirements Large volumes of work can go through frameworks Agreed Terms and Conditions Standard tender documentation Potential for more business- access to the whole of the LGPS!

Existing Frameworks: Actuarial and Benefit Consultancy Services Framework being used by 8 Funds already

Existing Frameworks: Investment Consultancy Services Framework being used by 10 Funds already

Existing Frameworks: Global Custody Services Services 39 Funds have expressed an interest… LATEST NEWS!

National Procurement Frameworks for the LGPS Collaboration in action today delivering outcomes now: Fast and efficient OJEU compliant procurement Leveraging buying power and influence of combined Funds Available to all the LGPS Retaining local service definition and choice Influencing the market place Further opportunities including Greater usage = greater benefits (Comply or Explain?) Next framework – Legal Services Further frameworks (Passive Fund management, AVC providers….?) ‘Trusted trader’ approach for smaller value specialist services (IFA’s…?) Wider public sector coverage? For DB Innovation

National Procurement Frameworks for the LGPS

National LGPS Frameworks

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