Award

Provision of Nest Scheme Administration Services

NEST SCHEME ADMINISTRATION

This public procurement record has 2 releases in its history.

Award

10 Mar 2021 at 10:16

Award Notice
Tender

13 May 2019 at 07:56

Tender Notice
Summary of the contracting process

The NEST Scheme Administration, a public financial services organisation, is currently engaged in the procurement process for the "Provision of Nest Scheme Administration Services." This contract, which falls under the financial and insurance services category, encompasses an outsourced service for the National Employment Savings Trust (NEST) pension scheme, emphasising digital delivery and auto-enrolment support. The tender period concluded on 2nd February 2021, with contract execution set to commence on 3rd February 2021 and a minimum term of ten years anticipated. The total indicative contract value is £1.5 billion, allowing for future expansions and exit periods.

This procurement project offers significant growth opportunities for organisations capable of delivering robust administration services and innovative technology solutions for pension schemes. Businesses specialising in financial services, particularly those with a strong focus on digital capabilities, customer data protection, and value-for-money delivery, will be well-positioned to compete. The competitive dialogue procurement method suggests that various partners with diverse expertise may collaborate, thus fostering an environment conducive to innovative proposals that meet the Authority's ambitious strategic objectives.

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Notice Information

Notice Title

Provision of Nest Scheme Administration Services

Notice Description

The Authority has procured a fully outsourced service for the build, delivery and operation of administration services for the defined contribution pension scheme known as the National Employment Savings Trust. The administration services will support auto-enrolment and be delivered primarily via digital channels. The contract will be for a minimum term of 10 years, with an optional extension period of up to 5 years, and the option of an additional period of up to 3 years for exit. The total contract value is indicative and covers this potential 18 year period. As a financial services organisation with public body status, the Authority adheres to public procurement regulations. Therefore, the Authority conducted this procurement in accordance with the rules laid out in the Public Contracts Regulations 2015. The Authority developed a set of Critical Success Factors (CSFs) which are aligned with its strategic objectives. The CSFs underpinned the procurement programme and will help the Authority to achieve its future vision and are as follows: - managing our risks: the continued success of Nest must have trust at its core. Our customers need to trust that we can effectively look after their data and assets. It is vital that we can manage a smooth transition into our new scheme administration service and that once we are live, that service is robust and secure, - enabling a commercially sustainable Nest: we are ultimately funded by our members. Our new service must be delivered in a commercially efficient way that seeks to align our commercial interests, supports the long-term financial forecasts for the scheme and enables opportunities to maintain and grow sustainable revenue streams, - securing value for money: we need to scope our services to fit the needs of our customers and deliver value for money over the life of the services including exit. We must run a competitive and legally compliant procurement, - improving customer outcomes: our vision is to help millions enjoy a better retirement. Our new scheme administration services must focus on how advances in technology and deep data analytics ensure a joined up approach to continuous improvement and excellence in customer service. This is so that we can help all of our customers to make the right choices and drive better outcomes, - delivering services consistent with our values and capabilities: Nest is underpinned by the values of transparency, ease, empowerment and respect. We want our future services to develop in alignment with these and work with a partner that understands "what makes Nest, Nest" and can provide expertise that complements the capabilities that already sit within our organisation.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-28f18ec8-a1ef-4c00-b302-522d3cece699
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/2cd23ff5-0649-4bc1-a9bb-8881b06908a4
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Competitive dialogue (above threshold)
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
£1,500,000,000 £1B-£10B
Lots Value
Not specified
Awards Value
£1,500,000,000 £1B-£10B
Contracts Value
Not specified

Notice Dates

Publication Date
10 Mar 20214 years ago
Submission Deadline
2 Feb 2021Expired
Future Notice Date
Not specified
Award Date
3 Feb 20215 years ago
Contract Period
3 Feb 2021 - 2 Feb 2031 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
NEST SCHEME ADMINISTRATION
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
E14 4PU
Post Town
East London
Country
England
Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI4 Inner London - East
Small Region (ITL 3)
TLI42 Tower Hamlets
Delivery Location
TLI London
Local Authority
Tower Hamlets
Electoral Ward
Canary Wharf
Westminster Constituency
Poplar and Limehouse

Supplier Information

Number of Suppliers
1
Supplier Name

ATOS BPS

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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