{
    "tag": [
        "compiled"
    ],
    "id": "ocds-h6vhtk-05ab47-2025-10-09T10:06:03+01:00",
    "date": "2025-10-09T10:06:03+01:00",
    "ocid": "ocds-h6vhtk-05ab47",
    "initiationType": "tender",
    "tender": {
        "id": "TEN-2324-016",
        "legalBasis": {
            "id": "32014L0024",
            "scheme": "CELEX"
        },
        "title": "Provision of Retirement Consultancy Services",
        "classification": {
            "scheme": "CPV",
            "id": "66523000",
            "description": "Pension fund consultancy services"
        },
        "mainProcurementCategory": "services",
        "lots": [
            {
                "id": "1",
                "description": "Since 2015, one of the principal challenges for the pensions industry in the UK has been to develop retirement income products which provide members with a life-long, sustainable income, whilst retaining the benefits of flexibility introduced by the pension freedoms. In 2015 Nest set out a blueprint for a retirement income strategy which would fulfil these objectives following the introduction of the pension freedoms. Over the next few years, nest will be working to evolve its retirement offering and will need specialist ad-hoc support. This tender is to establish a preferred supplier pool (in the form of a Framework Agreement) for consultancy services to help support Nest throughout this programme of work. Please note, the estimated value is the upper limit of Nest's anticipated range of spend that spend over the duration of the framework, which is PS500,000 - 800,000. This is a framework agreement and therefore no minimum spend is guaranteed.",
                "contractPeriod": {
                    "durationInDays": 1440
                }
            }
        ],
        "items": [
            {
                "id": "1",
                "deliveryAddresses": [
                    {
                        "region": "UK"
                    }
                ],
                "relatedLot": "1"
            }
        ]
    },
    "awards": [
        {
            "id": "063572-2025-TEN-2324-016-1",
            "relatedLots": [
                "1"
            ],
            "title": "Retirement Consultancy Services",
            "status": "active",
            "suppliers": [
                {
                    "id": "GB-FTS-163397",
                    "name": "WTW (Towers Watson Limited)"
                },
                {
                    "id": "GB-FTS-163398",
                    "name": "Hymans Robertson LLP"
                }
            ]
        }
    ],
    "parties": [
        {
            "id": "GB-FTS-163396",
            "name": "National Employment Savings Trust (NEST)",
            "identifier": {
                "legalName": "National Employment Savings Trust (NEST)"
            },
            "address": {
                "streetAddress": "10 South Colonnade 1st floor",
                "locality": "London",
                "region": "UK",
                "countryName": "United Kingdom"
            },
            "contactPoint": {
                "email": "Procurement@nestcorporation.org.uk"
            },
            "roles": [
                "buyer"
            ],
            "details": {
                "url": "http://www.nestpensions.org.uk"
            }
        },
        {
            "id": "GB-FTS-163397",
            "name": "WTW (Towers Watson Limited)",
            "identifier": {
                "legalName": "WTW (Towers Watson Limited)"
            },
            "address": {
                "locality": "Reigate",
                "region": "UK",
                "countryName": "United Kingdom"
            },
            "roles": [
                "supplier"
            ],
            "details": {
                "scale": "large"
            }
        },
        {
            "id": "GB-FTS-163398",
            "name": "Hymans Robertson LLP",
            "identifier": {
                "legalName": "Hymans Robertson LLP"
            },
            "address": {
                "locality": "London",
                "region": "UK",
                "countryName": "United Kingdom"
            },
            "roles": [
                "supplier"
            ],
            "details": {
                "scale": "large"
            }
        },
        {
            "id": "GB-FTS-525",
            "name": "High Court",
            "identifier": {
                "legalName": "High Court"
            },
            "address": {
                "locality": "London",
                "countryName": "United Kingdom"
            },
            "roles": [
                "reviewBody"
            ]
        }
    ],
    "buyer": {
        "id": "GB-FTS-163396",
        "name": "National Employment Savings Trust (NEST)"
    },
    "contracts": [
        {
            "id": "063572-2025-TEN-2324-016-1",
            "awardID": "063572-2025-TEN-2324-016-1",
            "title": "Retirement Consultancy Services",
            "status": "active",
            "value": {
                "amount": 1200000,
                "currency": "GBP"
            },
            "dateSigned": "2023-10-23T00:00:00+01:00",
            "period": {
                "durationInDays": 1440
            },
            "items": [
                {
                    "id": "1",
                    "classification": {
                        "scheme": "CPV",
                        "id": "66523000",
                        "description": "Pension fund consultancy services"
                    },
                    "deliveryAddresses": [
                        {
                            "region": "UK"
                        }
                    ],
                    "relatedLot": "1"
                }
            ],
            "amendments": [
                {
                    "id": "1",
                    "description": "Value of framework to be increase to cover for additional works.",
                    "rationale": "Need for additional works, services or supplies by the original contractor/concessionaire: The complexity and commercial sensitivity of the project means it would be very uneconomical to retender the framework and continue the work at this advanced stage with different suppliers. It would involve significant duplication of work and likely delay delivery of the project which is a strategic priority for the business. We therefore need to continue working with the two suppliers appointed under the existing retirement consultancy framework agreement. The additional work is expected to include consultancy support to: Continue to support Nest to explore the design and feasibility of a bulk deferred annuity investment * Actuarial advisory to support the design of internal modelling * Investment advisory, to support Nest to help its members manage key risks, inflation, sequencing, market, etc"
                }
            ]
        }
    ],
    "language": "en"
}