Tender

Consultancy Services and Research on Defined Contribution Pensions Investment Practices and the Use of Target Funds and Default FundsConsultancy Services and Research on Technologies for Automatic Pension Enrolment

FOREIGN & COMMONWEALTH OFFICE

This public procurement record has 1 release in its history.

Tender

23 Jun 2020 at 19:07

Tender Notice
Summary of the contracting process

The Foreign & Commonwealth Office (FCO) is undertaking a public procurement process for consultancy services and research focusing on defined contribution pensions investment practices in China. The tender seeks a provider to analyse existing practices and recommend a model Default Fund design to facilitate automatic enrolment. The procurement is currently in the Tender stage, with a deadline for submissions set for 24th July 2020. This project falls under the Financial Consultancy Services category and is valued at £160,000. The contract period is expected to commence on 1st October 2020 and concludes on 31st March 2021.

This tender presents significant opportunities for businesses specialising in financial consultancy, particularly those with expertise in pension fund management and investment strategies. Companies that have a proven track record in conducting research and analysis within the financial services sector, especially with knowledge of global best practices and local regulations in China, will be well positioned to compete for this contract. Additionally, small and medium-sized enterprises (SMEs) are particularly encouraged to apply, making this an accessible opportunity for innovative firms looking to expand their portfolio in international markets.

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Notice Information

Notice Title

Consultancy Services and Research on Defined Contribution Pensions Investment Practices and the Use of Target Funds and Default FundsConsultancy Services and Research on Technologies for Automatic Pension Enrolment

Notice Description

Foreign and Commonwealth Office (FCO) is looking for a provider of consultancy services and research on defined contribution pensions investment practices and the use of target funds and default funds in China. For this specific project the supplier is to carry out research into current defined contribution pensions investment practices in China and draw on the best practices on the use of Target Date Funds and Default Funds for defined contribution pensions from around the world, to establish the extent to which these practices could be replicated in China to support future automatic enrolment. The goal of the project is to develop a model Default Fund design in China based on the findings of the research, with input from relevant stakeholders. The Pensions Pillar work within the Prosperity Fund Financial Services (FS) Programme (the Programme) in the People's Republic of China is intended to address the current issues associated with the transition from China's current heavy dependence on Pillar 1 pensions to a future multi-pillar pensions regime. This contract will be for the delivery of research and analysis on Target Date Funds and Default Fund design, considering current and best practices in China, the UK and around the world. From this research, recommendations for a model Default Fund design for defined contribution pensions to support automatic enrolment should be developed, with input from key stakeholders. The supplier will be expected to deliver the following specific outputs: 1. A detailed China 'as-is' analysis paper which should, at minimum, include: a. Analysis of China's current pensions investment practices, capabilities and infrastructure; and b. Analysis and write up on the extent to which Target Date funds are currently used in China. 2. UK Target Date Funds & Default Funds analysis report. Consisting of an analysis into how Target Date Fund strategies and Default Funds have been utilised in the UK to support automatic enrolment. 3. Global Best Practices analysis report consisting of analysis into best practices on the use of target date funds and default funds from around the world. 4. A proposed model for Default Fund Design for Pillar II pensions in China. This output breaks down into: a. The development of the proposed model; b. The organising of workshops with relevant parties to test methodology and investment strategy with key stakeholders. To access the tender documents, please login or register to FCO's e-sourcing portal https://fco.bravosolution.co.uk. If you have any technical issues with accessing the tender documents, please call e-sourcing helpdesk: +44 203 608 4013 or email: help@bravosolution.co.uk. Any queries related to the subject of this tender should be sent via the messaging function for the itt_3826 - project_4482 - PF China - Pensions Workstream 5 Project 1. Additional information: To access the tender documents, please login or register to FCO's e-sourcing portal https://fco.bravosolution.co.uk. If you have any technical issues with accessing the tender documents, please call e-sourcing helpdesk: +44 203 608 4013 or email: help@bravosolution.co.uk. Any queries related to the subject of this tender should be sent via the messaging function for the itt_3821 - PF China Financial Services Programme Fin Tech Pillar Workstream 3 Project 2 "Regulatory Sandbox" knowledge exchange and training.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-6028b6f6-2261-4aab-8c38-7b9aa1a528c3
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/c0da395d-f850-4245-a55a-eea7342b9bca
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (above threshold)
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66171000 - Financial consultancy services

Notice Value(s)

Tender Value
£160,000 £100K-£500K
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
23 Jun 20205 years ago
Submission Deadline
24 Jul 2020Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
30 Sep 2020 - 31 Mar 2021 6-12 months
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
FOREIGN & COMMONWEALTH OFFICE
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
SW1A 2AH
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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