Provision of a Salary Sacrifice Additional Voluntary Contribution (AVC) Scheme for Local Government Pension Scheme Members

Description

Sunderland City Council already offers standard AVCs (Added Voluntary Contributions) with Prudential to staff in the Local Government Pension Scheme (LGPS). Currently AVCs are not generally promoted in any way within Sunderland City Council; therefore, there is a relatively low level of take up with the current standard AVC scheme. The purpose of this procurement exercise is to partner with a new service provider with a view to implementing and promoting a new salary sacrifice AVC scheme to increase AVC participation throughout the organisation. The contract agreement will be very much a partnership agreement between the Council and the successful contractor which will be delivered by the contractor as a fully managed solution. This will entail the provision of a dedicated website which incorporates an administration facility to fully-manage employee applications and salary sacrifice data.

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