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Published 9 Dec 2025, 16:10 GMT

Official UK procurement notice

Economic Scenario Generator Service

Official notice

Authority: Government Actuary's Department (Central government)

2 lotsServicesCompetitive flexible procedureAbove thresholdSME suitableVCSE suitable
Sectors: Business Services & Consultancy (79) Delivery: UK
Published estimate£575,000envelope for 2 lots · £690,000 inc. VAT
Submissions closed 25 Jan 2026awarded 8 Apr 2026
Awarded to Ortec Finance LTD, Barnett Waddingham LLP2 awards
Contract term 3 yrsends 8 Mar 2029 · up to 8 Mar 2031 with extensions · starts 9 Mar 2026

What is being bought2 lots · detail below

Published requirement description

The Authority is seeking a partner(s) to deliver an economic scenario generator service and a climate scenario service, with an optional call-off asset liability modelling software service.

  • How the procedure runs: Only suppliers who submitted an expression of interest in relation to Notice identifier: 2025/S 000-056642, by the published deadline of 30/09/2025 will be eligible to submit a bid for this opportunity. Any bids from suppliers who did not submit an expression of interest prior to 30/09/2025 will be rejected. Please see the tender pack under the attachment section on the MyTenders website. When returning your responses please ensure you remember to include your attachments for the questions and upload them on the MyTenders website.

CPV: Economic research services

Lots and requirements (2)Procurement structure

2 lots · all with a published value (£575,000 together)
Lot #1Economic Scenario Generator ServiceAwardedRenewal 3 yrsSMEVCSEPublished value£325,000

The Authority wishes to procure ESG data to use in its proprietary and third party models to project asset and liability outcomes. This analysis will support the Authority's work in applying actuarial services to the public sector.

Such economic scenarios should include all the main institutional investment asset classes and the UK's main inflation indices. Optionality to include further data types is sought, such as further asset classes and other economic variables.

The above economic scenarios must be provided at 31 March and 31 December each year, with optionality to include other quarter end or month end dates.

Contract period: 9 Mar 2026 – 8 Mar 2029 (3 yrs) · up to 8 Mar 2031 with extensionsValue: £325,000 exc. VAT · £390,000 inc. VAT
Delivery: UKEligibility: SME eligibleVCSE eligible
Extensions: Section two of the procurement, Asset Liability Modelling (ALM) Software Service, is being offered on an optional call-off basis, in addition to the services provided under Lots One and Two. Suppliers are not obligated to provide a bid for this service. The optional ALM Software Service will not be scored for award purposes. However, Tenderers who wish to be considered for this requirement must provide prices and supporting detail for this Service as set out in the Tender Pack and Pricing Schedule. These prices will form part of the Contract and will apply if the Authority elects to Call-Off this Service. · 2 x 12 month extensions available
79311400 Economic research services
Lot #2Climate Scenario ServiceAwardedRenewal 3 yrsSMEVCSEPublished value£250,000

The Authority also seeks to procure climate scenarios. The climate scenarios must be provided annually at the end of each financial year, but the supplier should set out how additional climate scenario provision could be made, for the Authority to consider if this adds value to its proposition.

Contract period: 9 Mar 2026 – 8 Mar 2029 (3 yrs) · up to 8 Mar 2031 with extensionsValue: £250,000 exc. VAT · £300,000 inc. VAT
Delivery: UKEligibility: SME eligibleVCSE eligible
Extensions: Section two of the procurement, Asset Liability Modelling (ALM) Software Service, is being offered on an optional call-off basis, in addition to the services provided under Lots One and Two. Suppliers are not obligated to provide a bid for this service. The optional ALM Software Service will not be scored for award purposes. However, Tenderers who wish to be considered for this requirement must provide prices and supporting detail for this Service as set out in the Tender Pack and Pricing Schedule. These prices will form part of the Contract and will apply if the Authority elects to Call-Off this Service. · 2 x 12 month extensions available
79311400 Economic research services

What it takes to win
i

How this buyer will score bids.

The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).

Evaluation split and conditions of participation as published; the tender pack may add more
How bids were scored
Lot distribution rule: Suppliers may bid for each or both Lots, Lots One and Two will be evaluated individually and a separate contract will be awarded to the successful supplier within each Lot.

Procedure terms & legal framework

From the official record
Procedure method
Competitive flexible procedure
Legal basis
UKPGA · 2023/54 Procurement Act 2023
Procurement category
Services
Notice status
Awarded
Procurement threshold
Above threshold (FTS publication)
Regulatory regime
Standard
Commercial structure
Stand-alone contract (no framework)
Competition type
Competitive procedure
GPA / WTO covered
Unspecified in notice
Recurring procurement
Unspecified in notice
First published
9 Dec 2025, 16:10 GMT
Last source update
10 Apr 2026, 13:31 BST
Award evaluation window
Submission end – 20 Feb 2026
Authority reference
P11855
FTS notice number
2025/S 000-082610
Latest notice
Contract details notice (UK7)
Classification (CPV)
Economic research services
Delivery area
UK
Official registry OCID
ocds-h6vhtk-05f214 Find a Tender
How it runs

Only suppliers who submitted an expression of interest in relation to Notice identifier: 2025/S 000-056642, by the published deadline of 30/09/2025 will be eligible to submit a bid for this opportunity. Any bids from suppliers who did not submit an expression of interest prior to 30/09/2025 will be rejected.

Please see the tender pack under the attachment section on the MyTenders website. When returning your responses please ensure you remember to include your attachments for the questions and upload them on the MyTenders website.

How it was run

Official notice
Run through: mytenders · Who buys & how to bid on myTenders
Supplier login requiredElectronic submission allowedLanguage: EN
Access & registration note: Free publication showcase; bidding happens on buyer portals
Submission deadline
25 Jan 2026, 23:59 GMT
Clarification deadline
7 Jan 2026, 23:59 GMT
Submission channel
Official e-sourcing portal
Electronic submission
Allowed
Accepted languages
en
Detailed submission instructions & authority contactsFrom official release

www.mytenders.co.uk ↗

Timeline

9 Dec 2025 → 10 Apr 2026 · 8 dates
  1. Planning notice published312 days ago
    9 Dec 2025, 16:10 GMT
  2. Tender notice published309 days ago
    12 Dec 2025, 15:40 GMT
  3. Next notice expected308 days ago
    12 Dec 2025, 23:59 GMT
  4. Clarification questions by282 days ago
    7 Jan 2026, 23:59 GMT
  5. Submission deadline264 days ago
    25 Jan 2026, 23:59 GMT
  6. Award decision expected by238 days ago
    20 Feb 2026, 23:59 GMT
  7. Contract starts222 days ago
    9 Mar 2026
  8. Latest notice published190 days ago
    10 Apr 2026, 13:31 BST

Notice history

8 events · 5 releases on Find a Tender · since 9 Dec 2025
  1. Planned procurement notice published
    9 Dec 2025, 16:10 GMT
    UK3
  2. Tender notice published
    12 Dec 2025, 15:40 GMT
    UK4
  3. Status changed to active
    12 Dec 2025, 15:40 GMT
  4. Deadline moved to 25 Jan 2026, 23:59 GMT
    12 Dec 2025, 15:40 GMT
    +1 days · was 25 Jan 2026
  5. Tender notice published
    22 Dec 2025, 13:51 GMT
    UK4
  6. Tender notice published
    2 Jan 2026, 16:03 GMT
    UK4
  7. Contract details notice published
    10 Apr 2026, 13:31 BST
    UK7
  8. Status changed to complete
    10 Apr 2026, 13:31 BST
Published amendments (1)

This notice has been amended to reflect the extension of the timeline for submission of clarification questions.

Routine re-releases (5)
  • 2025-12: 2 releases · 9 Dec 2025, 12 Dec 2025

Commercial outcome & contract awards

Published awards, contracts and bid statistics, not a forecast
Awards 2
Awarded value £635,0942 contracts exc. VAT
Contracts signed 2latest 8 Apr 2026
Awarded toValueDateStatus
Lot 1 · Economic Scenario Generator Service1 award
Barnett Waddingham LLP——Awarded
Lot 2 · Climate Scenario Service1 award
Ortec Finance LTD——Awarded

Contracts

  • Climate Scenario Data service - Lot 2 · Ortec Finance LTD

    Signed
    8 Apr 2026
    Value
    £345,094
    Period
    9 Apr 2026 – 8 Apr 2029 · up to 8 Apr 2031 with extensions
    Status
    active
    Extensions
    2 x 12 Month extensions available
    Options
    One-off ad-hoc requests for up to five additional off-the-shelf asset classes Additional calibrations at mutually agreed ad-hoc dates
    1 agreed KPI: Climate Scenario Delivery
    • Climate Scenario Delivery

  • Economic Scenario Generator service - Lot 1 · Barnett Waddingham LLP

    Signed
    9 Mar 2026
    Value
    £290,000
    Period
    9 Mar 2026 – 8 Mar 2029 · up to 8 Mar 2031 with extensions
    Status
    active
    Extensions
    2 x 12 month extensions available
    Options
    One-off ad-hoc requests for up to five additional off-the-shelf asset classes Additional calibrations at mutually agreed ad-hoc dates
    1 agreed KPI: Delivery of Economic Scenarios
    • Delivery of Economic Scenarios

Contracting authority & participating public bodies

Government Actuary’s Department

Contracting authorityPublic authority - central government GB-PPON: PJVY-9952-JQGR 6th Floor, London, London, E14 4PUContact email

Bidders & participating suppliers

2 commercial parties on the notice
  • Barnett Waddingham LLPAwarded supplierGB-COH: OC307678 3 Devon Way, Longbridge, Birmingham, West Midlands, B31 2TSContact email
  • Ortec Finance Awarded supplierGB-COH: 06410807 30 Old Bailey, London, London, EC4M 7AUContact email

Official documents & specifications (14)

Official links; attachments are not copied

Tender pack and attachments

Notices published for this procedure

  • Contract details notice contractContract details noticeUK7Contract details notice on Find a Tender
  • Contract details notice contractContract details noticeUK7Contract details notice on Find a Tender
  • Tender notice tenderTender noticeUK4Tender notice on Find a Tender
  • Tender notice tenderTender noticeUK4Tender notice on Find a Tender
  • Tender notice tenderTender noticeUK4Tender notice on Find a Tender
  • Planned procurement notice planningPlanned procurement noticeUK3Planned procurement notice on Find a Tender