# Custody and Investment Operations Outsourcing Services

> A sourced UK public sector contract award published by Pension Protection Fund.

## Key facts

- Buyer: [Pension Protection Fund](/buyers/pension-protection-fund/contract-awards)
- Supplier: [The Northern Trust Company](/suppliers/northern-trust/public-sector-contract-awards)
- Award value: £53,000,000
- Tender value: £53,000,000
- Award date: 14 December 2021
- Published: 15 December 2021
- Contract start: 1 September 2022
- Contract end: 31 August 2032
- Stage: awarded
- Procurement category: services
- Notice ID: 0553710e-eef9-47af-8eb6-976e693ff1df-494060
- OCID: ocds-b5fd17-6717a93b-3f18-4729-ad09-a2565d0c2f6e

## Description

Custody and Investment Operations Outsourcing \(IOO\) Services\. Custodian Services also include Fund accounting and transfer agency services \(unitisation\)\. We may also appoint a second/reserve Custodian to manage some of the PPF's assets, the exact amount is to be confirmed\. Total contract length stated is based on the maximum possible contract term of 10 years\. The initial contract term for Custody is 5 years and IOO 3 years\. The minimum contract value and maximum contract values are based on the initial contract term and maximum contract term to be spread across the primary and reserve/secondary custodian, exact split is unknown at this stage\.

## Related contract awards

- [International Payment Services 2026](/contracts/ocds-b5fd17-9db6af29-5cb8-403c-bbdf-e95bd15c8c31) — Pension Protection Fund
- [Information and Cyber Security Services](/contracts/ocds-b5fd17-9d99a6a8-a21a-4487-9385-b6398abc3c5a) — Pension Protection Fund
- [Workforce Solutions](/contracts/ocds-b5fd17-96fd511c-ed4e-47a7-8c41-7213ff0f1ac6) — Pension Protection Fund
- [Records Management & Confidential Waste Shredding](/contracts/ocds-b5fd17-7af33f37-023b-487b-a274-4ad2e6f6add7) — Pension Protection Fund
- [Provision of Global Custody to the Pension Fund](/contracts/ocds-b5fd17-9735725a-3948-44a2-893d-9cd7198bea4e) — South Tyneside Council
- [Custodian Services](/contracts/ocds-b5fd17-a97f89d2-e439-4c62-ab06-cf215b744b3d) — LONDON BOROUGH OF NEWHAM
- [Order form for LGPS Framework for Transition Management and Implementation Services](/contracts/ocds-b5fd17-8cc35c2e-7d0a-4d39-ad79-f6e6ee960de0) — Border to Coast Pensions Partnership Ltd
- [Global Custody Services](/contracts/ocds-b5fd17-8a82b5d0-8026-42c5-b22f-afe0a9a051b3) — Isle of Wight Council
- [SEN20231-SEN-TAXI-Brooksby Melton College](/contracts/ocds-b5fd17-08326797-d738-447c-9aa6-156a9505a094) — Leicestershire County Council
- [2026-08-07 09:00 - QBE959 Newmarket & Gazeley to Riverwalk School, Bury St Edmunds - AWARD](/contracts/ocds-b5fd17-b8f51468-ddfc-4b13-b56e-af10669ad163) — Suffolk County Council Passenger Transport
- [QHL118 09:00 2026-09-01 Glemsford to WS Training, Haverhill - 4-seater vehicle required - AWARD](/contracts/ocds-b5fd17-97ec37c1-e8fe-4ab5-a737-0f93dfeabe48) — Suffolk County Council Passenger Transport
- [2025-097 Microsoft Enterprise Agreement & Associated Services](/contracts/ocds-b5fd17-799c2c53-9c0f-44b7-a80c-04573ee782e9) — Ofgem

## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/0553710e-eef9-47af-8eb6-976e693ff1df-494060)