Tender: Record Keeper and Investment Management Services for the Government Money Purchase Pension Plan (GMPP) – Newfoundland and Labrador

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The Government of Newfoundland and Labrador is seeking a supplier for record keeper and investment management services for the Government Money Purchase Pension Plan (GMPP), a defined contribution plan covering part‑time government employees and full‑time employees of participating employers who are ineligible for other government pension plans. The GMPP Committee oversees the plan and requires the supplier to support development, implementation and review of investment alternatives, member education and promotion, oversight of investment options and oversight of Record Keeper and Investment Manager services; current investment choices include Guaranteed Investment Accounts and market‑based funds (a Canadian equity fund, a bond fund, two global equity funds, a balanced fund and target date funds) and Appendix D outlines new options to be implemented on April 1, 2028. As of June 30, 2026 total plan assets were $545.3 million (with $231.2 million for active members), and membership grew from 39,528 accounts on January 1, 2024 to 41,684 accounts on June 30, 2026; for the year ending June 30, 2026 employee contributions totaled $16.7 million across 14,356 active members (including $252,338 in Additional Voluntary Contributions) and employer contributions totaled $16.5 million, with 4,531 withdrawals totaling $37.1 million and 550 transfers of $14.5 million to qualifying defined benefit plans. The Contracted Supplier will be expected to work with Treasury Board Secretariat (TBS) on transition to a new contract, ensure continuity of operations, meet clearly defined measurable high‑performance targets, and deliver on employer and employee experience, compliance with the Government Money Purchase Pension Plan Act and GMPP governance documents, administration systems/technology/innovation/reporting, and cost competitiveness including investment management fees, with an anticipated contract effective date of April 1, 2028.