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Published 4 Oct 2022, 15:22 BST

Official UK procurement notice

Guaranteed Income and Income Drawdown Tools

Official notice

Authority: MONEY AND PENSIONS SERVICE (Central government)

Services
Sectors: IT Services & Software (72) Delivery: UKLondon (UKI)
Awarded value£1,580,981published contract · exc. VAT
Awarded 11 Oct 2018
Awarded to Defaqto Limited

What is being bought

Published requirement description

No description was published on the notice. See the official documents.

CPV: Data collection and collation services · Data conversion services · IT services: consulting, software development, Internet and support

The lotProcurement structure

single lot · no lot value published
Lot #1The Money and Pensions Service requires the continued service provision of its…

The Money and Pensions Service requires the continued service provision of its existing online tools:

  • the Annuities tool (previously named Guaranteed Income Products)
  • comparison table, and
  • the Investment Pathways tool (previously named income drawdown comparison tool)

This service must include the data provision.

Delivery: UK
72311100 Data conversion services72314000 Data collection and collation services

Procedure terms & legal framework

From the official record
Legal basis
CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
Procurement category
Services
Notice status
Awarded
Procurement threshold
Unspecified in notice
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
4 Oct 2022, 15:22 BST
Last source update
4 Oct 2022, 15:22 BST
FTS notice number
2022/S 000-027871
Classification (CPV)
Data collection and collation servicesData conversion servicesIT services: consulting, software development, Internet and support
Delivery area
UKLondon (UKI)
Official registry OCID
ocds-h6vhtk-0372e7 Find a Tender

Commercial outcome & contract awards

Published awards, contracts and bid statistics, not a forecast
Awards 1
Awarded value £1,580,9811 contract exc. VAT
Contracts signed 1latest 11 Oct 2018
Awarded toValueDateStatus
Defaqto Limited£1,580,981 †—Awarded

Contracts

  • Guaranteed Income and Income Drawdown Tools · Defaqto Limited

    Signed
    11 Oct 2018
    Value
    £1,580,981
    Period
    11 Oct 2022 – 10 Oct 2023
    Status
    active
    • Change Modification of the contract: - In time until 10/10/2023 (12 months) - Clause 2, Term of Agreement, revised to include an annual review requiring no less than 3 months termination notice. - Schedule 2, Service Fees, updated to include costs for extension period (£297,040.64 ex. VAT) Contract previously varied in 2020 to add Investment Pathways comparison into the drawdown tool, at a total additional cost of £505,190.00., Need for additional works, services or supplies by the original contractor/concessionaire: MaPS is committed to regularly reviewing and improving these tools to ensure they continue to meet the needs of the consumers that rely on them. The contract modification to extend for a twelve month period is required to allow for a fair competition in the re-procurement, including managing incumbency advantage. The existing provider holds the Intellectual property for the tools, and as such, there is no ease of interchangeability with another provider. During initial market engagement earlier in 2022, the market was engaged with regard to options. From this, it was determined that we would need to completely re-build the tools. Therefore it became apparent that the time required to procure and develop and test the new tools would be significantly longer than the time available. Allowing the contract to expire would create issues with regard to Financial Conduct Authority (FCA) requirements, as the FCA conduct of business rules require providers to signpost to MaPs tools. To ensure we have continuous coverage for consumers we are therefore extending the current contract for a twelve-month period, to provide sufficient time for a fair competition in the re-procurement and to re-build the tools prior to the end of the contract extension.

Contracting authority & participating public bodies

Money and Pensions Service

Contracting authorityCentral Government Holborn Centre,120 Holborn, LONDON, London, EC1N2TDContact email

Dispute resolution & review bodies

  • The Money Advice ServiceReview body London

Bidders & participating suppliers

1 commercial party on the notice
  • Defaqto LtdAwarded supplierGB-COH: 02870220 Aylesbury, South East

Official documents & specifications

Official links; attachments are not copied

No document links were published on the notice.