Salary sacrifice additional voluntary contributions framework

The Salary Sacrifice Additional Voluntary Contributions (SSAVC) framework enables UK local government and wider public sector organisations to seamlessly enter into a contract with My Money Matters. It provides Shared Cost Additional Voluntary Contributions and other related products and services.

Portsmouth City Council has awarded a single supplier framework agreement in accordance with the requirements of regulation 33(7) of the Public Contracts Regulations 2015, for the provision of a SSAVC scheme.

How it works

Currently, SSAVCs are available to employers with staff enrolled in Local Government Pension Scheme (LGPS) and NHS pension scheme. It’s up to each employer to decide whether to implement an SSAVC scheme.

Key benefits include:

• for employees – significant savings and the ability to grow their retirement pot
• for employers – savings on Employer National Insurance contributions and the Apprenticeship Levy

For a full list of organisations able to use the scheme, view the list of framework customers.

Why use the framework

Save time: procurement is already compliant with regulations. Simply identify your requirements, present them to the service provider, and award a contract.

Assured supplier standards: supplier is pre-qualified for financial stability, track record, experience, and technical and professional ability. They meet the mandatory and discretionary criteria outlined in the standard supplier selection questionnaire.

Save resources: price and quality have already been assessed, with pre-agreed terms and conditions in place to support all orders.

How to buy

This is a single-supplier framework, you can award a call-off contract from this agreement without re-opening competition:

1. Review all guidance documents.
2. Ensure that the scope of this agreement provides a solution for your needs.
3. Sign the access agreement (upon completion relevant documentation will be sent to you in commercial confidence for the purposes of your procurement).
4. Consult with the service provider (My Money Matters) in writing, requesting it to supplement its tender as necessary.

We recommend you seek your own internal commercial and legal advice, and keep any documents to support your rationale during the procurement process.

Documents

Framework documents will be sent to you once you’ve completed the access agreement. You can also view the contract notice and the list of framework customers.

Contact us

For more information, visit the My Money Matters website or email FrameworkAVC@portsmouthcc.gov.uk.