News & Views

What’s in a deadline? Stretching the CMA retender time

In this Professional Pensions blog, Donny Hay  discusses the 9 June 2021 deadline for retendering fiduciary management services and proposes options for trustees to maximise the time to achieve the best outcomes for their pension scheme.

    • Receive responses to invitation to tender from fiduciary managers by the start of June 2021
    • If more time is needed, consider re-appointing incumbent on a temporary basis
    • Then take additional time to consider all the bids at leisure with view to appointing a fiduciary manager on a long-term basis on the best possible terms later.
    • In IC Select’s experience, the average fee reduction achieved from re-tenders has been 25% with the greatest savings over 50%.

Additional information on this topic is available on request – contact info@ic-select.co.uk

 

https://www.professionalpensions.com/opinion/4028873/deadline-stretching-cma-retender