TEN-2425-026 Annuity Brokerage Service

NATIONAL EMPLOYMENT SAVINGS TRUST (NEST

There is 1 contract in this contracting process.

Summary of the contracting process

The procurement process for the "TEN-2425-026 Annuity Brokerage Service" has been completed by the National Employment Savings Trust (NEST), based in London, England. This contract, classified under the industry category of "Insurance and pension services," involved an open procurement method below the threshold. The relevant tender period concluded on 10th January 2025, and the contract was awarded on 30th January 2025. The service is intended to be live by April 2025, with a contract period from 22nd April 2025 to 21st April 2027. The procurement location covers a broad area including the United Kingdom, British Overseas Territories, Channel Islands, Europe, Isle of Man, and the Rest of the World.

This tender offers significant opportunities for businesses in the insurance and pension services sectors, particularly those with capabilities to provide innovative annuity services. With NEST aiming to enhance their retirement withdrawal services, companies specialising in seamless digital integrations and data sharing could stand to benefit greatly. Though Retirement Line Ltd, a large-scale corporation, has been successfully awarded the contract, there remain avenues for SMEs interested in future collaborations as NEST considers expanding its offerings based on user behaviour. This represents a fertile ground for enterprises looking to engage with a reputable organisation like NEST and to expand their service portfolios within the pension services domain.

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TEN-2425-026 Annuity Brokerage Service

NATIONAL EMPLOYMENT SAVINGS TRUST (NEST

Contract Timeline

Publication Date

12th May 2025 16:13:23 PM
Contract Summary

Nest is looking to launch an annuity service for members that would go live in April 2025. Initially, our expectation is that it will be a signposted service that is linked to via the Nest member portal and within our retirement withdrawal journey. We may consider introducing data sharing or integrating the service into our retirement journey in the future, if user behaviour supports this development.
Contract Details

Open Contracting ID

ocds-b5fd17-6556ace6-f3c6-44d7-bf83-845bf7e2a9a3

Publication Source

Contracts Finder

Procurement Stage

Award

Procurement Method

Open

Procurement Method Details

Open Procedure (below Threshold)

Procurement Category

Services

Tender Suitability

SME

Framework / DPS
Contract Classification

CPV Code(s)

66500000

CPV Division(s)

66 - Financial and insurance services
Awarding Authority

NATIONAL EMPLOYMENT SAVINGS TRUST (NEST

Buyer Name

Buyer Email

Procurement@nestcorporation.org.uk

Buyer Phone

Buyer Address

10 South Colonnade, Canary Wharf, London, E14 4PU

London

E14 4PU

England
Awarded Supplier(s)

Supplier Name(s)

RETIREMENT LINE LTD

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TEN-2425-026 Annuity Brokerage Service

NATIONAL EMPLOYMENT SAVINGS TRUST (NEST

Contract Timeline

Contract Summary

Contract Details

Contract Classification

Awarding Authority

Awarded Supplier(s)