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TEN-2526-037 (PA2023) Retirement Consultancy Framework - LOT NO 3 CALL OFF NUMBER 1 (Willis Towers Watson)

NATIONAL EMPLOYMENT SAVINGS TRUST (NEST) CORPORATION

This public procurement record has 1 release in its history.

Award

20 Jul 2026 at 14:54

UK6 - Contract Award Notice
Summary of the contracting process

The National Employment Savings Trust (NEST) Corporation, a central government public authority based in London, has recently completed its procurement process for a retirement consultancy framework, specifically under LOT NO 3 CALL OFF NUMBER 1. The contract was awarded to Willis Towers Watson, a large-scale financial consultancy services supplier also located in London. This award was registered on 20th July 2026, and the contract period extends from 20th July 2026 to 30th October 2026. The procurement method employed was selective, indicating that it was an award under an existing framework, with a gross contract value set at £540,000.

This tender provides significant opportunities for businesses involved in financial consultancy services, as it includes organising workshops and preparing strategic materials to assist NEST in designing their retirement income blueprint. Companies with expertise in financial consultancy and those capable of supporting sophisticated investment strategy development, price considerations, and governance frameworks would find this opportunity particularly rewarding. With the focus on creating robust retirement income structures, businesses that can offer innovative solutions and strategic insights within the financial sector, especially within the UK, would be well-positioned to tender for similar future opportunities.

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Notice Information

Notice Title

TEN-2526-037 (PA2023) Retirement Consultancy Framework - LOT NO 3 CALL OFF NUMBER 1 (Willis Towers Watson)

Notice Description

This Contract Award Notice was published previously, however, did not have the unique OCID number attached to it due to administrative errors. This is a republishing of the Award Notice using today's date. The Supplier will organise workshops, in 'sprint'-style format, to support Nest Invest to form views on design aspects or operational approaches for its retirement income blueprint, which include but are not limited to the following: 1. Assessment of choice of CMA model, and support making any changes 2. Income calibration sessions (setting initial income, high-level investment strategy, adjusting the income framework) 3. Approach for early retirees (reducing volatility though income framework) 4. Choice of comparator annuities 5. Detailed decisions on co-horting (age-related simplifications and allowing for significant market movements, also related work on cross subsidies) 6. Detailed investment strategy considerations 7. Price-lock considerations with the insurer 8. Governance of cohorts The supplier will also prepare pre-reading materials and papers documenting the outcomes of workshops, for subjects relating to the retirement income blueprint, including the subjects above. The supplier will also carry out related relevant actions to support the design of the income distribution approach and associated modelling.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06cf23
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/068381-2026
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
UK6 - Contract Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Award under framework
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66171000 - Financial consultancy services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
£450,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
20 Jul 20262 weeks ago
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
22 Apr 20263 months ago
Contract Period
19 Jul 2026 - 30 Oct 2026 1-6 months
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
NATIONAL EMPLOYMENT SAVINGS TRUST (NEST) CORPORATION
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
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
Not specified
Local Authority
Tower Hamlets
Electoral Ward
Canary Wharf
Westminster Constituency
Poplar and Limehouse

Supplier Information

Number of Suppliers
1
Supplier Name

WILLIS TOWERS WATSON

Further Information

Notice Documents

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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