Notice Information
Notice Title
Junior ISAs 2023 FTS
Notice Description
Junior ISAs (JISA's) and Child Trust Funds (CTF's) are long term tax-advantaged saving accounts for children up to the age of 18. Children are eligible for a JISA if they are under 18, resident in the UK, and not eligible for a CTF. Anyone can pay money into the accounts, but the funds cannot then be accessed by the account holder until their 18th birthday (or are terminally ill). At 18, the account will mature into a standard (adult) ISA or the funds will be withdrawn. Children looked after for 12 months or more and not eligible for a Child Trust Fund (CTF) are entitled to a PS200 payment from the government into a Junior ISA. The supplier will ensure eligible children receive the payments due to them under the JISA scheme: by acquiring the necessary data from LAs, opening JISAs for those children, making payments into these JISAs, and providing information about the JISAs opened and payments made to LAs, CiC and their carers. The supplier invoices the DfE on a two-weekly basis for the numbers of JISAs opened and submits invoices quarterly to the DfE to cover payments for administration of the scheme. The delivery partner's role will also involve: * Fund Management * Management Reporting and Data Requests * IT infrastructure * Delivery of financial education * Fundraising for additional donations In addition to the contract, a separate Grant Funding Agreement will be put in place between the Department for Education and the successful delivery partner. This will enable payments of PS200 to be made into each new JISA that is opened.
Lot Information
Lot 1
Junior ISAs (JISA's) and Child Trust Funds (CTF's) are long term tax-advantaged saving accounts for children up to the age of 18. Children are eligible for a JISA if they are under 18, resident in the UK, and not eligible for a CTF. Anyone can pay money into the accounts, but the funds cannot then be accessed by the account holder until their 18th birthday (or are terminally ill). At 18, the account will mature into a standard (adult) ISA or the funds will be withdrawn. Children looked after for 12 months or more and not eligible for a Child Trust Fund (CTF) are entitled to a PS200 payment from the government into a Junior ISA. The supplier will ensure eligible children receive the payments due to them under the JISA scheme: by acquiring the necessary data from LAs, opening JISAs for those children, making payments into these JISAs, and providing information about the JISAs opened and payments made to LAs, CiC and their carers. The supplier invoices the DfE on a two-weekly basis for the numbers of JISAs opened and submits invoices quarterly to the DfE to cover payments for administration of the scheme. The delivery partner's role will also involve: * Fund Management * Management Reporting and Data Requests * IT infrastructure * Delivery of financial education * Fundraising for additional donations In addition to the contract, a separate Grant Funding Agreement will be put in place between the Department for Education and the successful delivery partner. This will enable payments of PS200 to be made into each new JISA that is opened.
Options: 2x1 year options to extend 2027-2028 2028-2029
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-h6vhtk-03738c
- Publication Source
- Find A Tender Service
- Latest Notice
- https://www.find-tender.service.gov.uk/Notice/011000-2023
- Current Stage
- Award
- All Stages
- Planning, Award
Procurement Classification
- Notice Type
- Planning Notice
- Procurement Type
- Standard
- Procurement Category
- Services
- Procurement Method
- Open
- Procurement Method Details
- Open procedure
- Tender Suitability
- Not specified
- Awardee Scale
- SME
Common Procurement Vocabulary (CPV)
- CPV Divisions
66 - Financial and insurance services
85 - Health and social work services
-
- CPV Codes
66100000 - Banking and investment services
85300000 - Social work and related services
Notice Value(s)
- Tender Value
- £1,200,000 £1M-£10M
- Lots Value
- Not specified
- Awards Value
- Not specified
- Contracts Value
- £1,893,519 £1M-£10M
Notice Dates
- Publication Date
- 17 Apr 20232 years ago
- Submission Deadline
- Not specified
- Future Notice Date
- 16 Oct 2022Expired
- Award Date
- 30 Mar 20232 years ago
- Contract Period
- Not specified - Not specified
- Recurrence
- Not specified
Notice Status
- Tender Status
- Complete
- Lots Status
- Cancelled
- Awards Status
- Active
- Contracts Status
- Active
Buyer & Supplier
Contracting Authority (Buyer)
- Main Buyer
- DEPARTMENT FOR EDUCATION
- Contact Name
- Not specified
- Contact Email
- vicki.gregg@education.gov.uk
- Contact Phone
- Not specified
Buyer Location
- Locality
- LONDON
- Postcode
- SW1P 3BT
- 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 URLs
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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