Advanced Procurement for Universities and Colleges, Edinburgh, hired Mercer to establish a defined contribution plan on behalf of the U.K. higher and further education sector, according to an announcement posted on Tenders Electronic Daily, a European procurement platform.
APUC is the procurement center for universities and colleges in Scotland, including the University of St. Andrews and the University of Edinburgh.
According to the announcement, APUC chose Mercer as sole supplier of a framework agreement for a DC plan, which is compliant with automatic enrollment rules in the U.K.
APUC launched the search in November.
The DC plan will be available to all members of APUC, and also the Southern Universities Purchasing Consortium, London Universities Purchasing Consortium, North West Universities Purchasing Consortium, North East Universities Purchasing Consortium and Higher Education Purchasing Consortium Wales, according to the announcement. These members can join and offer the plan to employees. The Universities and Colleges Employers Associating can also offer the plan.
A spokesman for APUC was not available to comment by press time.