Official UK procurement notice
Provision of Retirement Consultancy Services
Authority: National Employment Savings Trust (NEST)
What is being bought
Published requirement descriptionThis tender is to establish a Framework Agreement for consultancy services to support Nest to enhance its retirement offering.
CPV: Pension fund consultancy services
How this framework works
From the published notice- Places
- up to 2 suppliers
The lotProcurement structure
single lot · value publishedLot #1Since 2015, one of the principal challenges for the pensions industry in the UK has…Published value£800,000
Since 2015, one of the principal challenges for the pensions industry in the UK has been to develop retirement income products which provide members with a life-long, sustainable income, whilst retaining the benefits of flexibility introduced by the pension freedoms.
In 2015 Nest set out a blueprint for a retirement income strategy which would fulfil these objectives following the introduction of the pension freedoms.
Over the next few years, nest will be working to evolve its retirement offering and will need specialist ad-hoc support. This tender is to establish a preferred supplier pool (in the form of a Framework Agreement) for consultancy services to help support Nest throughout this programme of work.
Please note, the estimated value is the upper limit of Nest's anticipated range of spend that spend over the duration of the framework, which is £500,000 - 800,000. This is a framework agreement and therefore no minimum spend is guaranteed.
What it takes to wini
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 morei
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).
- “Provision of Retirement Consultancy Services” is a framework: the contest is a place on its panel, up to 2 suppliers, not a single contract.
Procedure terms & legal framework
From the official record · publisher note attached- Procedure method
- Open procedure
- Legal basis
- CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
- Procurement category
- Services
- Notice status
- Closed
- Procurement threshold
- Unspecified in notice
- Regulatory regime
- Standard
- Commercial structure
- Framework agreement
- Who may use this agreement
- Not stated in the notice; call-off rights may be limited to the establishing authority
- Competition type
- Competitive procedure
- GPA / WTO covered
- Yes (GPA)
- Recurring procurement
- No (one-off requirement)
- First published
- 23 Aug 2023, 11:56 BST
- Last source update
- 23 Aug 2023, 11:56 BST
- Award evaluation window
- 25 Sept 2023 – …
- Authority reference
TEN-2324-016- FTS notice number
2023/S 000-024776- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-03f63fFind a Tender
- Electronic trading
- e-invoicing allowed · electronic ordering · electronic payment
- Review procedure
The contracting authority will operate a minimum 10 calendar day standstill period at the point information on the award of the contract is communicated to tenderers to provide time for unsuccessful tenderers to challenge the award decision before the contract is entered into.
Unsuccessful tenderers shall be notified by the contracting authority as soon as possible after the decision is made as to the reasons why they were unsuccessful.
The Public Contracts Regulations 2015 provide that aggrieved parties who have been harmed, or are at risk of harm, by breach of the rules are to take action in the High Court (England, Wales and Northern Ireland)
Publisher note: Nest does not bind itself to accept any tender and is not liable for any costs incurred by those expressing an interest or tendering for this opportunity.
How it was run
Official notice- Appointment period ends
- 25 Sept 2023, 12:00 BST
- Submission channel
- {"electronicSubmission","written"}
- Accepted languages
- en
- Supplier levy on call-offs (max %)
- document
- Bid validity
- 180 days from the deadline
- Bids opened
- 25 Sept 2023, 12:00 BST
Timeline
23 Aug 2023 → 25 Sept 2023 · 3 dates- Notice published23 Aug 2023, 11:56 BST
- Admission / appointment period endsperiod end, not a bid countdown25 Sept 2023, 12:00 BST
- Bids opened25 Sept 2023, 12:00 BST
Contracting authority & participating public bodies
Dispute resolution & review bodies
- High CourtReview body
Official documents & specifications (2)
Official links; attachments are not copiedTender pack and attachments
- Economic and financial selection criteria
- Technical selection criteria