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Pensions Valuation Software

Government Actuary's Department

This public procurement record has 1 release in its history.

Planning

17 Aug 2026 at 15:04

UK2 - Preliminary Market Engagement Notice
Summary of the contracting process

The Government Actuary’s Department is planning to procure an off-the-shelf pensions valuation software solution and associated services. The system will support actuarial valuation, modelling and pension scheme analysis for public sector clients. Required functionality is expected to include calculations for active, deferred and pensioner members; schemes open to future accrual; final salary and career-average revalued earnings; cashflow and funding modelling; asset-liability modelling; scenario testing; sensitivity analysis; data import, validation and management; reporting; and audit trails. The requirement also covers implementation, user training, data migration, exit from incumbent systems, security, resilience and support. The work will support GAD’s actuarial services across the United Kingdom. GAD is a non-ministerial department and arm’s-length body of HM Treasury, providing actuarial advice, financial risk analysis and modelling to government and other public bodies.

This procurement is at the planning stage and is currently preliminary market engagement rather than an invitation to tender. GAD expects to publish the next notice on 1 March 2027. The planned engagement, scheduled through 31 December 2026, may involve expressions of interest, supplier questionnaires, one-to-one discussions, demonstrations, presentations and written information requests. Discussions will inform the requirements, procurement strategy and route to market, including implementation, hosting, migration, support, transition and commercial models. The estimated value is £1.4 million excluding VAT, or £1.68 million including VAT. The planned contract is expected to run from 1 March 2028 to 28 February 2033, with renewal provisions allowing extension to 28 February 2038. One lot is planned, covering analytical, scientific, mathematical or forecasting software.

This will suit software suppliers specialising in pensions administration, actuarial valuation, financial modelling or analytical systems, particularly businesses able to provide a mature off-the-shelf platform with implementation and continuing support. Strong candidates will be able to demonstrate pension scheme calculations across different member groups and benefit structures, cashflow and funding analysis, asset-liability modelling, scenario and sensitivity testing, and reliable reporting with a clear audit trail. The buyer is also seeking evidence of secure, resilient hosting and service management, practical data import and validation, and credible migration from an incumbent system. Suppliers should be prepared to explain their architecture, integration capabilities, product roadmap, implementation approach, training, exit and transition support, licensing arrangements and other commercial models. Market engagement is intended to identify innovation and improved functionality, so suppliers with relevant public sector or complex pension scheme experience should prepare detailed evidence and demonstrations.

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Notice Information

Notice Title

Pensions Valuation Software

Notice Description

The Government Actuary's Department (GAD) is a non-ministerial department and Arm's Length Body of His Majesty's Treasury. GAD provides actuarial solutions, including financial risk analysis, modelling and advice, to support the UK public sector. GAD works with a wide range of government departments, public bodies and other organisations, providing impartial actuarial expertise to assist effective decision-making and management of financial risk. GAD is undertaking preliminary market engagement in relation to an actuarial valuation software solution. GAD currently utilises a third-party software platform to support the delivery of actuarial valuation, modelling and pension scheme analysis services across a range of public sector clients. The existing contract runs to February 2028, and GAD is commencing early market engagement to better understand available solutions, market capability, implementation approaches and emerging innovations. The Authority is interested in engaging with suppliers that can provide an off-the-shelf software solution and associated services capable of supporting actuarial valuation and modelling activities, including (but not limited to): * Pension scheme valuation calculations and analysis, covering: Active, Deferred and Pensioner members, Open to future accrual, Final Salary & Career Average Revalued Earnings * Cashflow and funding modelling * Asset Liability Modelling * Scenario testing and sensitivity analysis * Data import, validation and management * Reporting and audit trail functionality * Appropriate security, resilience and support arrangements * Transition, implementation and user training services. * Data migration and exit capability from incumbent systems. The purpose of this engagement is to: * Understand the current supplier landscape. * Inform the development of requirements and the procurement strategy. * Identify opportunities for innovation and improved functionality. * Better understand implementation, migration and transition considerations. * Assess approach to future valuation systems including available commercial models and contracting approaches. Participation in this engagement will not confer any advantage or disadvantage in any future procurement process.

Planning Information

The Authority intends to engage with interested suppliers through one or more of the following activities: • Expressions of interest. • Supplier questionnaires. • One-to-one supplier discussions. • Supplier demonstrations and presentations. • Requests for written information. Engagement discussions may cover: • Product functionality and roadmap. • Technical architecture and hosting arrangements. • Data migration approaches. • Integration capabilities. • Licensing and commercial models. • Implementation timescales. • Support and service management arrangements. • Exit and transition support. Suppliers wishing to participate should register their interest by contacting the Authority using the details below. Information obtained during market engagement will be used solely to inform procurement planning, specification development and route-to-market decisions.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-06e5c6
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/078186-2026
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
UK2 - Preliminary Market Engagement Notice
Procurement Type
Standard
Procurement Category
Goods
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

48 - Software package and information systems

CPV Codes

48460000 - Analytical, scientific, mathematical or forecasting software package

Notice Value(s)

Tender Value
£1,400,000 £1M-£10M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
17 Aug 20261 weeks ago
Submission Deadline
Not specified
Future Notice Date
1 Mar 20277 months to go
Award Date
Not specified
Contract Period
1 Mar 2028 - 28 Feb 2033 Over 5 years
Recurrence
Not specified

Notice Status

Tender Status
Planning
Lots Status
Planning
Awards Status
Not Specified
Contracts Status
Not Specified

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

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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