Planning

Junior ISA scheme and Child Trust Funds for children in care and care leavers.

DEPARTMENT FOR EDUCATION

This public procurement record has 1 release in its history.

Planning

17 Jan 2020 at 12:46

Planned Procurement Notice
Summary of the contracting process

The Department for Education is preparing to invite tenders for the management of the Junior ISA (JISA) scheme and Child Trust Funds (CTFs) specifically designed for children in care and care leavers. This procurement, classified under social work and related services, is in the planning stage, with the future notice date set for 23rd January 2020. The contract period will commence on 1st April 2020 and conclude on 31st March 2021, with a total estimated value of £323,000. Interested organisations are encouraged to attend a pre-procurement call on the mentioned date to gather further details.

This tender presents a significant opportunity for growth particularly for small and medium-sized enterprises (SMEs) and voluntary, community, and social enterprise (VCSE) organisations that specialise in financial services and social care. Companies that have experience in managing financial products for young individuals, particularly vulnerable groups, will be well-positioned to compete. The successful contractor will play a critical role in administering JISAs and CTFs, directly impacting the financial well-being of looked after children and care leavers across the UK.

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Notice Information

Notice Title

Junior ISA scheme and Child Trust Funds for children in care and care leavers.

Notice Description

The DfE will be inviting tenders for a contractor to manage the Junior ISA (JISA) scheme, and Child Trust Funds (CTFs) for children in care (CiC) and care leavers. The JISA scheme has existed since 2011, when the Coalition Government ceased funding CTFs for all children, but established a new scheme funded and organised by the DfE, to provide children who had been looked after for 12 months with a JISA, through an initial contribution from the Government of PS200. The appointed contractor will ensure eligible children and young people receive the payments due to them through this scheme: by acquiring the necessary data from LAs, opening JISAs for those children, making payments into these JISAs, and providing information about the JISAs opened and payments made to LAs, CiC and their carers. The appointed contractor will be managing the existing 25,800 JISAs; and also responsible for administering 13,700 CTFs of looked after children. The contract may be extended for a maximum of 2 further 1 year terms. Additional information: Organisations interested in this contract are invited to attend a call on Thursday 23rd January 2020. Please use the contact details provided to request joining details.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-20627de1-e9f7-45ab-af8e-24f6fcb4db8a
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/aa722c27-91d0-4064-b58a-e0d9b4bae429
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
Planned Procurement Notice
Procurement Type
Standard
Procurement Category
Not specified
Procurement Method
Not Specified
Procurement Method Details
Tender Suitability
SME, VCSE
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

85 - Health and social work services

CPV Codes

85300000 - Social work and related services

Notice Value(s)

Tender Value
£323,000 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
17 Jan 20206 years ago
Submission Deadline
Not specified
Future Notice Date
23 Jan 2020Expired
Award Date
Not specified
Contract Period
31 Mar 2020 - 31 Mar 2021 6-12 months
Recurrence
Not specified

Notice Status

Tender Status
Planned
Lots Status
Not Specified
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
DEPARTMENT FOR EDUCATION
Contact Name
Not specified
Contact Email
gurdawar.jassi@education.gov.uk
Contact Phone
Not specified

Buyer Location

Locality
LONDON
Postcode
SW1P 3BT
Post Town
South West London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified
Local Authority
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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