Tender

TEN-2021-001 Sidecar Savings Trial Qualitative Research

NATIONAL EMPLOYMENT SAVINGS TRUST (NEST)

This public procurement record has 1 release in its history.

Tender

15 Apr 2020 at 16:01

Tender Notice
Summary of the contracting process

The National Employment Savings Trust (NEST) is currently conducting a tender titled "TEN-2021-001 Sidecar Savings Trial Qualitative Research" in the services industry. This procurement is at the Tender stage, with a deadline for submissions set for 7th May 2020. The research aims to explore innovative savings solutions for low to moderate earners, utilising a hybrid sidecar savings tool to enhance financial wellbeing. The contract period is anticipated to commence on 18th May 2020 and conclude by 18th November 2020, based in London, United Kingdom.

This tender represents a significant opportunity for SMEs specialising in research and development services, particularly those with expertise in finance and behavioural studies. Businesses that can contribute to enhancing saving behaviours, particularly for at-risk groups including gig workers and self-employed individuals, are particularly well-suited to compete. Collaborations with academic institutions or experience in delivering similar research projects could also provide a competitive advantage in this innovative procurement process.

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Notice Information

Notice Title

TEN-2021-001 Sidecar Savings Trial Qualitative Research

Notice Description

To access this tender opportunity please visit Nest's E-Sourcing portal at the following link: https://nesttenders.bravosolution.co.uk/web/login.shtml Nest Insight is a collaborative research and innovation think tank. We're working to understand the challenges people face in saving for their later lives, and to develop and test solutions to those challenges. Although we sit within Nest and draw learnings from the rich set of data Nest is building, we also work across the industry with other providers, from pensions, banking, fintech and beyond. We share all our work widely to influence industry and policy makers in the UK and internationally. We depend on sponsorships, grants and in-kind support from organisations that share our values. We work on three main areas to help low to moderate earners achieve the outcomes they hope for at retirement: 1. Smarter saving behaviours: Positively influencing the behaviour of current retirement savers - focusing on those behaviours that will make the greatest difference to their retirement outcomes. 2. Supporting at risk groups to save: Extending participation in retirement saving to at risk and excluded groups, including those outside of 'traditional' employment such as self-employed people, gig workers and carers and those who may face additional challenges, such as people living with mental health conditions. 3. Saving in context: Looking at retirement saving in the context of the whole household balance sheet to understand how different financial behaviours interact with retirement saving, and how best to help people manage the trade-offs and tensions between different priorities. We do this through an ambitious programme of research, trials, events and publications, delivered in partnership with academics, think tanks, government and the industry. 1.2.The UK Sidecar Savings Trial Nest Insight is currently conducting a research trial of a hybrid sidecar savings tool in the UK. Over a multi-year research project we are exploring whether creating a link between liquid and illiquid savings enhances the financial wellbeing of savers. The research team is led by Professor David Laibson of Harvard University and includes other academics as well as researchers from Nest Insight and the Money and Pensions Service. The work is jointly funded by BlackRock, the JP Morgan Chase Foundation and the Money and Pensions Service. The appointed savings technology partner is Salary Finance. The trial is exploring whether a hybrid savings tool can address two consumer finance issues: - According to research by MAPS, only 44 per cent of the UK's working population have PS500 or more in liquid savings on hand for emergencies, and 26 per cent have nothing. This means that many may have no choice but to turn to high cost sources of credit/borrowing if a they're faced with a high or unexpected cost.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-86a73774-80e2-4e3a-81d4-da833b179251
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/55a7ede8-de41-4c97-8362-58378cb5a07a
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 (below threshold)
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

73 - Research and development services and related consultancy services

CPV Codes

73000000 - Research and development services and related consultancy services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
15 Apr 20205 years ago
Submission Deadline
7 May 2020Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
17 May 2020 - 18 Nov 2020 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
NATIONAL EMPLOYMENT SAVINGS TRUST (NEST)
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

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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