# The Provision of Actuarial Services to Equalise Guaranteed Minimum Pensions \(GMP\) for Members GMP Implementation Phase III

> Contract award record from UK public-sector procurement sources.

## Key facts

- Public buyer: [PENSION PROTECTION FUND](/buyers/pension-protection-fund/contract-awards)
- Contract winner: Spence & Partners Limited
- Award value: £200,000
- Tender value: £400,000
- Award date: 12 July 2016
- Published: 18 November 2016
- Contract start: 19 July 2016
- Contract end: 18 July 2017
- Stage: awarded
- Procurement category: services
- Notice ID: 88c90698-f53e-46cc-b078-c08c467c0d5d-95113
- OCID: ocds-b5fd17-99602147-adc9-11e6-9901-0019b9f3037b

## Description

Actuarial services to equalise guaranteed minimum pensions for Members and the application of a Statutory Minimum\. A service to calculate the uplift in benefits \(if any\), plus any arrears due \(where relevant\) in respect of GMP equalisation \(and the underpin\) for the remaining members of the “backbook” of the PPF\. The backbook comprises members of schemes which transferred to the PPF prior to 1 June 2013 and contracted out via the GMP method\. A small number of schemes that transferred after 1 June 2013 that were given permission to transfer before equalising for GMPs are also included in the scope\. The following optional services may be provided by the Service Provider upon written agreement by the Parties; Average Approaches, Extra Data Validation, Additional Calculations and Amendments to the Build\. Full details of the PPF's requirements are set out in the procurement documentation\. Procurement documentation can be accessed here https://ppf\.bravosolution\.co\.uk

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## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/88c90698-f53e-46cc-b078-c08c467c0d5d-95113)