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Economic Scenario Generator Service

Government Actuary's Department

This public procurement record has 5 releases in its history.

Award

10 Apr 2026 at 13:31

UK7 - Contract Details Notice
TenderUpdate

02 Jan 2026 at 16:03

UK4 - Tender Notice
TenderUpdate

22 Dec 2025 at 13:51

UK4 - Tender Notice
Tender

12 Dec 2025 at 15:40

UK4 - Tender Notice
Planning

09 Dec 2025 at 16:10

UK3 - Planned Procurement Notice
Summary of the contracting process

The Government Actuary's Department in London has completed a procurement process for the provision of an Economic Scenario Generator Service alongside a Climate Scenario Service. This procurement, which falls under the industry category of economic research services, sought to engage suppliers to deliver critical data services, valued at a gross amount of £690,000, through an open and competitive flexible procedure. The procurement was divided into two lots, each covering different services, and concluded with contracts awarded to Ortec Finance for the Climate Scenario Data Service (Lot 2) and Barnett Waddingham LLP for the Economic Scenario Generator Service (Lot 1). The awarded contracts will span from March and April 2026 until March and April 2029, with potential extensions until 2031.

This tender offers significant business growth opportunities particularly for companies specialising in economic research and modelling services, enabling them to diversify and expand their market reach. Large-scale enterprises experienced in actuarial analysis, climate data modelling, or economic scenario generation services are particularly well-suited for this contract due to its technical requirements and scope. Additionally, the competitive nature of the open procurement method suggests that companies with innovative solutions in these areas can gain a competitive edge and foster long-term partnerships with government departments by delivering exceptional services that meet public sector needs.

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Notice Information

Notice Title

Economic Scenario Generator Service

Notice Description

The Authority is seeking a partner(s) to deliver an economic scenario generator service and a climate scenario service, with an optional call-off asset liability modelling software service.

Lot Information

Economic Scenario Generator Service

The Authority wishes to procure ESG data to use in its proprietary and third party models to project asset and liability outcomes. This analysis will support the Authority's work in applying actuarial services to the public sector. Such economic scenarios should include all the main institutional investment asset classes and the UK's main inflation indices. Optionality to include further data types is sought, such as further asset classes and other economic variables. The above economic scenarios must be provided at 31 March and 31 December each year, with optionality to include other quarter end or month end dates.

Options: Section two of the procurement, Asset Liability Modelling (ALM) Software Service, is being offered on an optional call-off basis, in addition to the services provided under Lots One and Two. Suppliers are not obligated to provide a bid for this service. The optional ALM Software Service will not be scored for award purposes. However, Tenderers who wish to be considered for this requirement must provide prices and supporting detail for this Service as set out in the Tender Pack and Pricing Schedule. These prices will form part of the Contract and will apply if the Authority elects to Call-Off this Service.

Renewal: 2 x 12 month extensions available

Climate Scenario Service

The Authority also seeks to procure climate scenarios. The climate scenarios must be provided annually at the end of each financial year, but the supplier should set out how additional climate scenario provision could be made, for the Authority to consider if this adds value to its proposition.

Options: Section two of the procurement, Asset Liability Modelling (ALM) Software Service, is being offered on an optional call-off basis, in addition to the services provided under Lots One and Two. Suppliers are not obligated to provide a bid for this service. The optional ALM Software Service will not be scored for award purposes. However, Tenderers who wish to be considered for this requirement must provide prices and supporting detail for this Service as set out in the Tender Pack and Pricing Schedule. These prices will form part of the Contract and will apply if the Authority elects to Call-Off this Service.

Renewal: 2 x 12 month extensions available

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-05f214
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/032845-2026
Current Stage
Award
All Stages
Planning, Tender, Award

Procurement Classification

Notice Type
UK7 - Contract Details Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Competitive flexible procedure
Tender Suitability
SME, VCSE
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79311400 - Economic research services

Notice Value(s)

Tender Value
£575,000 £500K-£1M
Lots Value
£575,000 £500K-£1M
Awards Value
Not specified
Contracts Value
£635,094 £500K-£1M

Notice Dates

Publication Date
10 Apr 20265 months ago
Submission Deadline
25 Jan 2026Expired
Future Notice Date
12 Dec 2025Expired
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Complete
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Government Actuary's Department
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
Postcode Area
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
Not specified
Local Authority
Tower Hamlets
Electoral Ward
Canary Wharf
Westminster Constituency
Poplar and Limehouse

Supplier Information

Number of Suppliers
2
Supplier Names

Ortec Finance

Barnett Waddingham LLP

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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