# Custody and Investment Operations Outsourcing Services

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

## Key facts

- Public buyer: [Pension Protection Fund](/buyers/pension-protection-fund/contract-awards)
- Contract winner: [The Northern Trust Company](/contract-winners/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
- [WCC - Global Custody Services](/contracts/ocds-b5fd17-11583dc4-ae8c-405a-b275-04e3a37a6a73): Warwickshire County Council
- [CST136 Global Custody Services](/contracts/ocds-b5fd17-81740272-1043-4ee2-9184-d232e40853dd): Derbyshire County Council
- [SYPA - Custodian Procurement - LGPS Framework Agreement \(NCCT42038\)](/contracts/ocds-b5fd17-b9ab3613-041c-4f38-bdb5-a24342085963): EU SUPPLY LIMITED

## Source

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