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Find a TenderAdministrative changeContract change notice
Published 8 Apr 2025, 10:58 BST

This notice announces an administrative change to an existing contract or market (a contract change notice). No new tender or admission is opened here; see the linked notices below for the original opportunity.

Official UK procurement notice

CON-2526-002 Fund Admin Transition and Transformation Programme

Official notice

Authority: National Employment Savings Trust (NEST) Corporation (Central government)

Direct awardSME suitable
Sectors: Financial and insurance services (66) Delivery: UK
Awarded value£635,000published award · exc. VAT
Awarded 16 Apr 2025no call for competition
Awarded to ALPHA FINANCIAL MARKETS CONSULTING UK LIMITED

What is being bought

Published requirement description

Nest will be transitioning over £50bn of assets from one custodian to another and working with a brand new fund accountant and administrator. This contract will provide expert support and experience based on deep experience of transitioning assets, and a deep understanding of Nest needs, and the new provider's capabilities.

The lotProcurement structure

single lot · no lot value published
Lot #1AwardedSME
Delivery: UKEligibility: SME eligible
66523100 Pension fund administration services

Procedure terms & legal framework

From the official record
Procedure method
Direct award
Legal basis
UKPGA · 2023/54 Procurement Act 2023
Notice status
Administrative change
Procurement threshold
Unspecified in notice
Regulatory regime
Standard
Commercial structure
Stand-alone contract (no framework)
Competition type
Direct award (no call for competition)
GPA / WTO covered
Yes (GPA)
Recurring procurement
Unspecified in notice
First published
8 Apr 2025, 10:58 BST
Last source update
25 Jun 2025, 18:04 BST
Authority reference
CON-2526-002 Fund Admin Transition and Transformation Programme
FTS notice number
2025/S 000-035225
Latest notice
Contract change notice (UK10)
Delivery area
UK
Official registry OCID
ocds-h6vhtk-04fe92 Find a Tender
Why no open competition
Additional Repeat Extension Partial Replacement
Published justification

Nest will be transitioning over £50bn of assets from one custodian to another and working with a brand new fund accountant and administrator.

This contract will provide expert support and experience based on deep experience of transitioning assets, and a deep understanding of Nest needs, and the new provider's capabilities.

Review and risk notes
Risks

There is a possibility that further unforeseen delays from other areas of the business could require this contract to be extended or increased both in terms of value and time.

How it was run

Official notice
Submission deadline
—

Timeline

29 May 2025 → 25 Jun 2025 · 2 dates
  1. Standstill ends
    29 May 2025, 23:59 BST
  2. Notice published
    25 Jun 2025, 18:04 BST

Notice history

6 events · 4 releases on Find a Tender · since 8 Apr 2025
  1. Transparency notice published
    8 Apr 2025, 10:58 BST
    UK5
  2. Contract award notice published
    19 May 2025, 16:56 BST
    UK6
  3. Contract signature expected
    30 May 2025, 23:59 BST
    scheduled
  4. Contract details notice published
    20 Jun 2025, 09:32 BST
    UK7
  5. Contract change notice published
    25 Jun 2025, 18:04 BST
    UK10
  6. Contract change proposed
    27 Jun 2025, 23:59 BST
    Additional funding is required to cover the cost of Investment Operations Specialist on Secondment from the Supplier, the Secondee to support NEST with its team's requirements for an initial period of twelve (12) months.
Routine re-releases (4)
  • 2025-04: 1 release · 8 Apr 2025

Commercial outcome & contract awards

Published awards, contracts and bid statistics, not a forecast
Awards 1
Awarded value £635,0001 award exc. VAT
Contracts signed 1latest 30 May 2025
Awarded toValueDateStatus
ALPHA FINANCIAL MARKETS CONSULTING UK LIMITED30 May 2025 – 29 May 2027 · up to 29 May 2029Extensions: 2 x 12 month periods if funds are still available.£635,00016 Apr 2025Awarded

Contracts

  • CON-2526-002 Fund Admin Transition and Transformation Programme · ALPHA FINANCIAL MARKETS CONSULTING UK LIMITED

    Signed
    30 May 2025
    Value
    £635,000
    Period
    30 May 2025 – 29 May 2027 · up to 29 May 2029 with extensions
    Status
    active
    Extensions
    2 x 12 month extensions is budget is still available.
    • Change proposed 27 Jun 2025 Additional funding is required to cover the cost of Investment Operations Specialist on Secondment from the Supplier, the Secondee to support NEST with its team's requirements for an initial period of twelve (12) months., new value £855,110

    No agreed KPIs: None required

Contracting authority & participating public bodies

National Employment Savings Trust (NEST) Corporation

Contracting authorityPublic authority - central government GB-PPON: PQGC-5667-VDDT 10 South Colonnade, Canary Wharf,, London, London, E14 4PUContact email

Bidders & participating suppliers

1 commercial party on the notice

Official documents & specifications (4)

Official links; attachments are not copied

Notices published for this procedure

  • Contract change notice contractContract change noticeUK10Contract change notice on Find a Tender
  • Contract details notice contractContract details noticeUK7Contract details notice on Find a Tender
  • Contract award notice awardContract award noticeUK6Contract award notice on Find a Tender
  • Transparency notice awardTransparency noticeUK5Transparency notice on Find a Tender