Notice Information
Notice Title
Guaranteed Income and Income Drawdown Tools
Notice Description
Lot Information
Lot 1
The Money and Pensions Service requires the continued service provision of its existing online tools: - the Annuities tool (previously named Guaranteed Income Products) - comparison table, and - the Investment Pathways tool (previously named income drawdown comparison tool) This service must include the data provision.
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-h6vhtk-0372e7
- Publication Source
- Find A Tender Service
- Latest Notice
- https://www.find-tender.service.gov.uk/Notice/027871-2022
- Current Stage
- Award
- All Stages
- Award
Procurement Classification
- Notice Type
- Award Notice
- Procurement Type
- Standard
- Procurement Category
- Services
- Procurement Method
- Not Specified
- Procurement Method Details
- Not specified
- Tender Suitability
- Not specified
- Awardee Scale
- SME
Common Procurement Vocabulary (CPV)
- CPV Divisions
72 - IT services: consulting, software development, Internet and support
-
- CPV Codes
72000000 - IT services: consulting, software development, Internet and support
72311100 - Data conversion services
72314000 - Data collection and collation services
Notice Value(s)
- Tender Value
- Not specified
- Lots Value
- Not specified
- Awards Value
- Not specified
- Contracts Value
- £1,580,980 £1M-£10M
Notice Dates
- Publication Date
- 4 Oct 20223 years ago
- Submission Deadline
- Not specified
- Future Notice Date
- Not specified
- Award Date
- 10 Oct 20187 years ago
- Contract Period
- 10 Oct 2022 - 10 Oct 2023 6-12 months
- Recurrence
- Not specified
Notice Status
- Tender Status
- Not Specified
- Lots Status
- Not Specified
- Awards Status
- Active
- Contracts Status
- Active
Buyer & Supplier
Contracting Authority (Buyer)
- Main Buyer
- MONEY AND PENSIONS SERVICE
- Contact Name
- Not specified
- Contact Email
- commercial@maps.org.uk
- Contact Phone
- Not specified
Buyer Location
- Locality
- LONDON
- Postcode
- EC1N 2TD
- Post Town
- Central London
- Country
- England
-
- Major Region (ITL 1)
- TLI London
- Basic Region (ITL 2)
- TLI3 Inner London - West
- Small Region (ITL 3)
- TLI36 Camden
- Delivery Location
- Not specified
-
- Local Authority
- Camden
- Electoral Ward
- Holborn & Covent Garden
- Westminster Constituency
- Holborn and St Pancras
Further Information
Open Contracting Data Standard (OCDS)
View full OCDS Record for this contracting process
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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"description": "Modification of the contract: - In time until 10/10/2023 (12 months) - Clause 2, Term of Agreement, revised to include an annual review requiring no less than 3 months termination notice. - Schedule 2, Service Fees, updated to include costs for extension period (PS297,040.64 ex. VAT) Contract previously varied in 2020 to add Investment Pathways comparison into the drawdown tool, at a total additional cost of PS505,190.00.",
"rationale": "Need for additional works, services or supplies by the original contractor/concessionaire: MaPS is committed to regularly reviewing and improving these tools to ensure they continue to meet the needs of the consumers that rely on them. The contract modification to extend for a twelve month period is required to allow for a fair competition in the re-procurement, including managing incumbency advantage. The existing provider holds the Intellectual property for the tools, and as such, there is no ease of interchangeability with another provider. During initial market engagement earlier in 2022, the market was engaged with regard to options. From this, it was determined that we would need to completely re-build the tools. Therefore it became apparent that the time required to procure and develop and test the new tools would be significantly longer than the time available. Allowing the contract to expire would create issues with regard to Financial Conduct Authority (FCA) requirements, as the FCA conduct of business rules require providers to signpost to MaPs tools. To ensure we have continuous coverage for consumers we are therefore extending the current contract for a twelve-month period, to provide sufficient time for a fair competition in the re-procurement and to re-build the tools prior to the end of the contract extension."
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