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retirement consultancy services

Nest Corporation

This public procurement record has 1 release in its history.

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05 Oct 2026 at 08:49

UK7 - Contract Details Notice
Summary of the contracting process

The National Employment Savings Trust (NEST) Corporation bought independent retirement and financial consultancy services to assess Rothesay’s pricing approach for a unique longevity-linked pension insurance solution. The work covers review of mortality assumptions and NEST member data, including how untraced members and age-related mortality adjustments are treated. It also includes assessing the use of LexisNexis tracing results and Mosaic affluence categories, comparing Rothesay’s prices with the wider bulk annuity market, and advising whether the terms offer value for money. The consultant is also to help improve NEST’s data quality. The procurement is classified as financial consultancy. The stated delivery country is the United Kingdom.

The procurement is complete and the contract was awarded to Hymans Robertson LLP. NEST used a selective procedure as a call-off under a framework, below the applicable threshold; the call-off was non-competitive. The contract was signed on 24 September 2026 and runs from 25 September 2026 to 31 March 2027. Its value is £80,000 excluding VAT (£96,000 including VAT). The requirement was structured as one lot, and that lot is complete. The published information describes the consultancy tasks but does not set out the evaluation criteria or a separate award date.

For future work of this kind, a credible supplier would need to combine pensions and bulk annuity market knowledge with actuarial expertise in longevity risk, mortality assumptions and pricing. Relevant capability includes analysing scheme-specific mortality experience, assessing adjustments across member ages, and developing defensible approaches to members who cannot be traced. Suppliers should also be able to evaluate member-tracing data and the use of demographic segmentation tools such as Mosaic, benchmark insurer pricing against the wider market, and provide independent value-for-money advice on a tailored longevity-linked solution. The requirement also favours practical experience improving pension-scheme data quality. This is specialist consultancy for a national pension scheme, delivered through a framework call-off rather than an open competition.

How relevant is this notice?

Notice Information

Notice Title

retirement consultancy services

Notice Description

The Supplier will provide the services outlined below: * Review of key judgement decisions made by Rothesay in their approach to setting longevity assumptions for pricing, including: o Weight applied to Nest mortality experience data when setting pricing basis. o Approach to mortality experience adjustments across ages. o Approach to treating untraced members in mortality experience data when performing analysis. * Review of LexisNexis tracing results and consideration of alternative approaches to treating untraced members. * Review of mortality experience data and consideration of alternative approaches to applying mortality experience adjustments. * Analysis of Rothesay's approach of using Mosaic and advice on the suitability of Mosaic to rank and categorise members into different affluence groups. * Analysis of Rothesay's pricing compared to pricing observed in the wider bulk annuity market. * Providing an independent view on the value for money of Rothesay's pricing terms, as applied to the unique LLPI solution. * Assisting in work undertaken to improve Nest data quality.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-078044
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/093597-2026
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
UK7 - Contract Details Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Below threshold - award under framework
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66170000 - Financial consultancy, financial transaction processing and clearing-house services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£80,000 Under £100K

Notice Dates

Publication Date
5 Oct 2026Yesterday
Submission Deadline
Not specified
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
25 Sep 2026 - 31 Mar 2027 6-12 months
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
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
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
1
Supplier Name

Hymans Robertson LLP

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

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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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