This excellent Professional Pensions article highlights the low level of FM Re-tenders to date. Are trustees underestimating the time needed to complete this process? Given that the lead times from kick off to signed contracts can easily be c.6 months or more, the 9 June 2021 deadline isn’t far away, and if the documentation and tender hasn’t been completed the adviser cannot act for pension scheme, which would be nuclear. Please call us if you wish to discuss.
At a glance:
- Fiduciary management retenders must be completed by next June for mandates covering 20% or more of assets
- Covid-19 delayed some retendering plans, but the process can take up to six months
- Managers may become choosier as the deadline approaches