Tender

Provision of Retirement Consultancy Services

NATIONAL EMPLOYMENT SAVINGS TRUST (NEST)

This public procurement record has 1 release in its history.

Tender

06 Oct 2023 at 17:28

Summary of the contracting process

The National Employment Savings Trust (NEST) has issued a tender for the provision of Retirement Consultancy Services, specifically focusing on Pension fund consultancy services. The procurement process is currently in the Tender stage, with a submission deadline set for November 6, 2023. The total contract value for the initial term of 5 years is £5,250,000 GBP, with the possibility of extending for up to an additional two years. The procurement method is an Open procedure, allowing electronic and written submissions. NEST is located in London, United Kingdom, and interested parties can find more details on the tender submission process on their website.

This tender by NEST offers an opportunity for businesses operating in the consultancy services sector, particularly those with expertise in Pension fund consultancy services, to compete for a long-term contract valued at over £5 million GBP. The contract includes the provision of internal audit services with potential for extension, creating a recurring revenue stream for the successful bidder. Businesses with experience in audit and compliance services, willing to adhere to the bid validity period of 180 days, are well-suited to compete and potentially grow their portfolio through this procurement opportunity.

Find more tenders on our Open Data Platform.
How relevant is this notice?

D3 Tenders Premium

Win More Public Sector Contracts

AI-powered tender discovery, pipeline management, and market intelligence — everything you need to grow your public sector business.

Notice Title

Provision of Retirement Consultancy Services

Notice Description

This tender is for the provision of internal audit services to Nest Corporation. The

Lot Information

Lot 1

This tender is for the provision of internal audit services to Nest Corporation. The contract s for an initial term of 5 years, with the option to extend up to a further two years, The contract value given on this form is the total potential value for the full 7 years and includes expenditure for ad-hoc audits over and above the core audit requirements as described in the tender documents.

Renewal: This contract will be renewed upon expiry as internal audit will be an ongoing requirement.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-0408d0
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/029617-2023
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
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66523000 - Pension fund consultancy services

Notice Value(s)

Tender Value
£5,250,000 £1M-£10M
Lots Value
£5,250,000 £1M-£10M
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
6 Oct 20232 years ago
Submission Deadline
6 Nov 2023Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
NATIONAL EMPLOYMENT SAVINGS TRUST (NEST)
Contact Name
Not specified
Contact Email
procurement@nestcorporation.org.uk
Contact Phone
Not specified

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

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

Download

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.

{
    "tag": [
        "compiled"
    ],
    "id": "ocds-h6vhtk-0408d0-2023-10-06T18:28:43+01:00",
    "date": "2023-10-06T18:28:43+01:00",
    "ocid": "ocds-h6vhtk-0408d0",
    "description": "Nest does not bind itself to accept any tender and is not liable for any costs incurred by those expressing an interest or tendering for this opportunity.",
    "initiationType": "tender",
    "tender": {
        "id": "TEN-2324-014",
        "legalBasis": {
            "id": "32014L0024",
            "scheme": "CELEX"
        },
        "title": "Provision of Retirement Consultancy Services",
        "status": "active",
        "classification": {
            "scheme": "CPV",
            "id": "66523000",
            "description": "Pension fund consultancy services"
        },
        "mainProcurementCategory": "services",
        "description": "This tender is for the provision of internal audit services to Nest Corporation. The",
        "value": {
            "amount": 5250000,
            "currency": "GBP"
        },
        "lots": [
            {
                "id": "1",
                "description": "This tender is for the provision of internal audit services to Nest Corporation. The contract s for an initial term of 5 years, with the option to extend up to a further two years, The contract value given on this form is the total potential value for the full 7 years and includes expenditure for ad-hoc audits over and above the core audit requirements as described in the tender documents.",
                "value": {
                    "amount": 5250000,
                    "currency": "GBP"
                },
                "contractPeriod": {
                    "durationInDays": 2520
                },
                "hasRenewal": true,
                "renewal": {
                    "description": "This contract will be renewed upon expiry as internal audit will be an ongoing requirement."
                },
                "submissionTerms": {
                    "variantPolicy": "notAllowed"
                },
                "hasOptions": false,
                "status": "active"
            }
        ],
        "items": [
            {
                "id": "1",
                "deliveryAddresses": [
                    {
                        "region": "UKI"
                    }
                ],
                "relatedLot": "1"
            }
        ],
        "participationFees": [
            {
                "id": "1",
                "type": [
                    "document"
                ]
            }
        ],
        "submissionMethod": [
            "electronicSubmission",
            "written"
        ],
        "submissionMethodDetails": "https://nesttenders.bravosolution.co.uk/",
        "documents": [
            {
                "id": "economic",
                "documentType": "economicSelectionCriteria"
            },
            {
                "id": "technical",
                "documentType": "technicalSelectionCriteria"
            }
        ],
        "procurementMethod": "open",
        "procurementMethodDetails": "Open procedure",
        "coveredBy": [
            "GPA"
        ],
        "tenderPeriod": {
            "endDate": "2023-11-06T12:00:00Z"
        },
        "submissionTerms": {
            "languages": [
                "en"
            ],
            "bidValidityPeriod": {
                "durationInDays": 180
            }
        },
        "awardPeriod": {
            "startDate": "2023-11-06T12:00:00Z"
        },
        "bidOpening": {
            "date": "2023-11-06T12:00:00Z"
        },
        "hasRecurrence": false,
        "contractTerms": {
            "hasElectronicOrdering": true,
            "electronicInvoicingPolicy": "allowed",
            "hasElectronicPayment": true
        },
        "reviewDetails": "The contracting authority will operate a minimum 10 calendar day standstill period at the point information on the award of the contract is communicated to tenderers to provide time for unsuccessful tenderers to challenge the award decision before the contract is entered into. Unsuccessful tenderers shall be notified by the contracting authority as soon as possible after the decision is made as to the reasons why they were unsuccessful. The Public Contracts Regulations 2015 provide that aggrieved parties who have been harmed, or are at risk of harm, by breach of the rules are to take action in the High Court (England, Wales and Northern Ireland)"
    },
    "parties": [
        {
            "id": "GB-FTS-4649",
            "name": "National Employment Savings Trust (NEST)",
            "identifier": {
                "legalName": "National Employment Savings Trust (NEST)"
            },
            "address": {
                "streetAddress": "10 South Colonnade 1st floor",
                "locality": "London",
                "region": "UK",
                "postalCode": "E14 4PU",
                "countryName": "United Kingdom"
            },
            "contactPoint": {
                "email": "procurement@nestcorporation.org.uk",
                "url": "https://nesttenders.bravosolution.co.uk/"
            },
            "roles": [
                "buyer"
            ],
            "details": {
                "url": "http://www.nestpensions.org.uk",
                "classifications": [
                    {
                        "scheme": "TED_CA_TYPE",
                        "id": "BODY_PUBLIC",
                        "description": "Body governed by public law"
                    },
                    {
                        "scheme": "COFOG",
                        "id": "04",
                        "description": "Economic affairs"
                    }
                ]
            }
        },
        {
            "id": "GB-FTS-525",
            "name": "High Court",
            "identifier": {
                "legalName": "High Court"
            },
            "address": {
                "locality": "London",
                "countryName": "United Kingdom"
            },
            "roles": [
                "reviewBody"
            ]
        }
    ],
    "buyer": {
        "id": "GB-FTS-4649",
        "name": "National Employment Savings Trust (NEST)"
    },
    "language": "en"
}