This public procurement record has 2 releases in its history.

Tender

30 Jul 2026 at 09:30

Planning

18 Mar 2026 at 13:28

Summary of the contracting process

The Bank of England, a central government public authority, is currently in the tender stage of its procurement process for a Private Medical Scheme under a Trust model. The contract, valued at £103 million, will cover private medical services for Bank employees, and is set to commence on 1st April 2027, with a possible extension for two additional years. The procurement process is being executed via a competitive flexible procedure, with a selective method. Interested suppliers have until 13th August 2026 to express interest, with propositions expected by 17th September 2026. Bidders who pass the Preliminary Selection Questionnaire (PSQ) will move on to the Invitation to Tender (ITT) phase, leading up to an award decision by December 2026. The scheme's implementation location is the United Kingdom, with services falling under Trust and Insurance categories, following the legal basis outlined in UK legislation 2023/54.

This tender represents an expansive opportunity for businesses specializing in trust and insurance services, particularly those capable of managing large-scale healthcare benefit programmes. Companies with proven financial capacity, technical competence, and a robust master trust arrangement are well-positioned to compete. The project demands conformity with various standards, including data protection, cyber assurance, equality, and sustainability practices, thus benefiting organisations with comprehensive quality assurance frameworks. By engaging with this tender, companies can fortify their standing within the healthcare insurance sector and leverage a significant client in the Bank of England to spearhead further business growth.

How relevant is this notice?

Notice Title

Private Medical Scheme

Notice Description

As part of its overall reward package for Bank employees, the Bank offers private medical cover as a core benefit. The Bank is looking to appoint a supplier who has the capability and capacity to provide a private medical scheme under a Trust model. The exact supply detail is set out in the Statement of Requirements. The Term is 3 +1 +1 years. The value is estimated at PS103M.

Lot Information

Lot 1

Renewal: 2 x 12 month extension available at the discretion of the Bank.

Planning Information

A briefing for all interested suppliers will be held on Thursday 26 March 2026 at 11am. To attend the briefing, interested suppliers are requested to send an email with Private Medical Scheme PME in the subject line to: Corporate.Contracts@bankofengland.co.uk by 12 noon Monday 23 March. The Bank is in the process of drawing up its requirements (including legal terms) for any future contract. In so doing, the Bank is consulting example documentation. Interested suppliers are invited but not required to submit any example / template documentation for reference by the Bank to the email address set out above.

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-066d94
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/072042-2026
Current Stage
Tender
All Stages
Planning, Tender

Procurement Classification

Notice Type
UK4 - Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Competitive flexible procedure
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66161000 - Trust services

66510000 - Insurance services

Notice Value(s)

Tender Value
£103,000,000 £100M-£1B
Lots Value
£103,000,000 £100M-£1B
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
30 Jul 20266 days ago
Submission Deadline
13 Aug 20261 weeks to go
Future Notice Date
23 Mar 2026Expired
Award Date
Not specified
Contract Period
31 Mar 2027 - 31 Mar 2030 3-4 years
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
BANK OF ENGLAND
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
EC2R 8AH
Post Town
Central 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
City of London
Electoral Ward
Walbrook
Westminster Constituency
Cities of London and Westminster

Further Information

Notice Documents

  • https://www.find-tender.service.gov.uk/Notice/072042-2026
    30th July 2026 - Tender notice on Find a Tender
  • https://www.find-tender.service.gov.uk/Notice/024604-2026
    18th March 2026 - Preliminary market engagement notice on Find a Tender
  • https://supplierlive.proactisp2p.com/
    Documents are provided on the Bank of England's Procurement portal https://supplierlive.proactisp2p.com/ Due to the sensitive nature of the documentation, interested suppliers are required to complete a non-disclosure agreement in order to access the associated tender documents. Interested suppliers should email Corporate.contracts@bankofengland.co.uk with the reference " Private Medical Scheme NDA Request" within the subject, and confirm Proactis Organisation ID, Company Number, VAT registration Number, signatory name and e-mail address for the non-disclosure agreement, this will then be issued via Docusign

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

JSON Markdown

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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