NACE 65.3 – Pension Funding | Public Tenders

NACE 65.3: Pension schemes in public tenders – occupational pensions for the public service, CPV codes and procurement procedures at a glance.

Definition: NACE 65.3 covers the activities of pension schemes and occupational pension institutions that receive contributions from employers and employees and use them to fund retirement benefits. In the public sector, pension schemes are particularly relevant as the implementation route for occupational pensions for public employees.

Legal basis: NACE Rev. 2 (Regulation (EC) No 1893/2006) · Last updated: January 2026

What does NACE 65.3 cover?

NACE 65.3 (Pension funding) classifies occupational pension institutions that, as independent entities, provide benefits under the second pillar of the pension system — a volume-relevant segment in the public service.

Group 65.3 within Section K (Financial and insurance activities) and Division 65 comprises one class:

Class	Title	Typical services
65.30	Pension funding	Defined contribution and defined benefit supplementary pension, direct insurance, pension funds, support funds

In the public service, supplementary pension funds (ZVK) such as the VBL (Pension Institution for Federal and Regional Authorities) as well as municipal and ecclesiastical supplementary pension funds are the dominant institutions of occupational pension provision.

Public Tenders: Sector NACE 65.3

Pension schemes and occupational pensions are relevant in the public sector not only as contracting authorities for asset management, but also as a commissioned implementation route that can be tendered.

Typical types of contract

Direct insurance contracts: Tendering of group insurance contracts for the occupational pensions of public employees (bAV)
Pension fund administration: Commissioning pension funds as an implementation route for occupational pensions for municipal undertakings
Actuarial consultancy: Expert opinions on the valuation of pension liabilities, accounting consultancy (HGB, IFRS), actuarial reviews
Pension management software: IT systems for the administration of occupational pension entitlements
Outsourcing of pension administration: Transfer of ongoing pension administration to specialised service providers
Asset management: Mandates for the management of cover assets of supplementary pension funds

Thresholds and procedure types

Insurance services in the area of occupational pensions are subject to the general EU threshold for service contracts (EUR 221,000). Actuarial consultancy mandates and software solutions are frequently awarded in the open or restricted procedure.

Relevant CPV codes for NACE 65.3

The CPV system differentiates within pension schemes between insurance services and administrative services.

CPV Code	Title	Application
66523000	Pension-fund management services	Administration of pension fund assets
66141000	Pension fund management services	Asset management mandate for pension schemes
75200000	Provision of services to the community	Administrative services for pension systems
66511000	Life insurance services	Direct insurance as an occupational pension route
79212500	Accounting review services	Actuarial reviews, annual accounts audit

Current tenders can be found on TED (Tenders Electronic Daily) as well as on national procurement platforms.

Who is NACE 65.3 relevant for in public procurement?

Public contracting authorities

Public employers — municipalities, federal states, federal authorities, municipal undertakings — are obliged to offer occupational pensions to their employees (public-service collective agreements). The choice of implementation route and the commissioning of service providers are subject to public procurement law. The VBL is in this respect, for the public service in Germany, the central statutory institution.

Companies and bidders

Pension schemes, life insurers and occupational pension consultancies seeking public mandates require:

Authorisation: Authorisation as a pension scheme or pension fund by BaFin (Germany) or FMA (Austria)
Technical capability: Experience in the administration of occupational pension systems for public employers, references
Economic capability: Solvency II compliance, technical provisions, security assets
Collective agreement compliance: Knowledge of TVöD, TV-L and the relevant collective agreements on occupational pensions in the public service

NACE 65.3 in context: Section K and Division 65

NACE 65.3 is part of Division 65 (Insurance, reinsurance and pension funding) within the financial and insurance Section K.

NACE K – Financial and insurance activities: Parent section
NACE 65 – Insurance, reinsurance and pension funding: Parent division
NACE 65.1 – Insurance: Direct insurance market
NACE 65.2 – Reinsurance: Reinsurance business
NACE 64.3 – Trusts, funds and similar financial entities: Capital investment for pension schemes

Frequently Asked Questions on NACE 65.3 and public tenders

Does occupational pension provision in the public service have to be tendered?
The VBL is mandatory for collectively agreed employees of the public service in Germany and is not subject to tendering. For employees of municipal undertakings or private-law subsidiaries, other implementation routes can however be chosen, which are subject to public procurement law.

What are the most common implementation routes for occupational pensions in the public sector?
Supplementary pension funds (VBL, municipal ZVK), direct insurance, pension funds and support funds. The choice depends on the applicable collective agreement law and budget law requirements.

What role does digitalisation play in pension scheme tenders?
Increasingly, IT systems for the administration of pension entitlements (pension administration software) and digital self-service portals for employees are being tendered — frequently together with the administration service contract.

Last updated: January 2026
All information is provided without guarantee. For legally binding advice, please consult a law firm specialising in public procurement law.