---
title: "Administration of the Junior Individual Savings Account (JISA) scheme for looked after children and care leavers"
ocid: "ocds-b5fd17-206c18d8-adca-11e6-9901-0019b9f3037b"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-206c18d8-adca-11e6-9901-0019b9f3037b"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-206c18d8-adca-11e6-9901-0019b9f3037b.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-206c18d8-adca-11e6-9901-0019b9f3037b.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "DEPARTMENT FOR EDUCATION"
published: "2017-01-20"
---

# Administration of the Junior Individual Savings Account (JISA) scheme for looked after children and care leavers

Buyer: DEPARTMENT FOR EDUCATION  
Current stage: Award  
OCID: ocds-b5fd17-206c18d8-adca-11e6-9901-0019b9f3037b

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## Summary

The Department for Education is seeking a supplier for the administration of the Junior Individual Savings Account (JISA) scheme aimed at looked after children and care leavers. This tender is categorised under financial and insurance services and is located in England. The procurement process is currently in the Award stage, with the contract due to commence on 2 January 2017 and run until 29 March 2019, with a potential 12-month extension. The total estimated contract value is up to £283,000 per annum, inclusive of VAT, and the award is expected by late October 2016.

This contract presents a significant opportunity for businesses specialising in financial services, particularly those with expertise in managing savings accounts for vulnerable populations. Small and medium-sized enterprises (SMEs) and voluntary, community, and social enterprises (VCSEs) may find this project especially aligned with their capabilities, as the successful bidder will also be tasked with providing financial education and raising additional voluntary contributions for the accounts. Companies with experience in social responsibility initiatives and fundraising will be well-suited to compete for this contract.

## Notice

In 2011, the Coalition Government ceased funding Child Trust Funds (CTFs) but agreed to establish a new scheme, funded and organised by DfE, to provide children who had been looked after for 12 months with a JISA, with an initial payment from Government of PS200. JISAs and CTFs are long term tax-advantaged saving accounts for children up to the age of 18. To date the scheme has been managed by a contractor and the Department is seeking a supplier to continue managing and administering the scheme. Some of the aspects of the service required include opening accounts for these vulnerable young people with the initial Government contribution of PS200. The supplier will also be ensuring that these accounts are properly operated and invested appropriately with a range of JISA providers. The successful bidder will raise additional voluntary contributions, through donations or fund-raising, to build the value of the accounts. They will also provide financial education to help ensure responsible use of the funds when the JISAs mature at age 18. During 2017, or at a later date to be agreed between the relevant parties, the appointed supplier will also be required to assume management responsibility for approximately 11,000-15,000 CTFs of looked after children from the Official Solicitor for England and Wales; the Official Solicitor for Northern Ireland; or the Accountant of Court (for Scotland). As the corporate parent for children in care, the Government's view is that this group of vulnerable children need the financial help that their peers receive from their parents. The JISA is seen therefore as a modest start in building a nest-egg for these young people, with the expectation that their local authorities will also add to the account, so that by the time these vulnerable young people turn age 18, they will have something more substantial than PS200. The contract is estimated to be awarded by late October. The service will commence on 2 January 2017 and end 29 March 2019, with a possible extension period of up to a further 12 months. The value of the contract will be up to a maximum of PS283,000 per annum, or less (inclusive of VAT) Additional information: Bidders should be mindful of the Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE). It is the responsibility of tenderers to consider whether or not TUPE applies in the circumstances of this contract and tender accordingly.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/72c3a367-2df0-4c36-b96b-1c643d156d58 |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure |
| Tender suitability | SME, VCSE |
| Awardee scale | Large |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 20 Jan 2017 |
| Submission deadline | 3 Oct 2016 |
| Future notice date | Not specified |
| Award date | 6 Dec 2016 |
| Contract period | 2 Jan 2017 - 29 Mar 2019 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £500,000 |
| Lots value | Not specified |
| Awards value | £531,624 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | DEPARTMENT FOR EDUCATION |
| Locality | LONDON |
| Post town | South West London |
| Postcode | SW1P 3BT |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | Westminster |
| Electoral ward | St James's |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | THE SHARE FOUNDATION |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66000000 - Financial and insurance services

## Release History

- 20 Jan 2017 at 13:42 - AwardUpdate - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/72c3a367-2df0-4c36-b96b-1c643d156d58
- 22 Dec 2016 at 10:38 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/72c3a367-2df0-4c36-b96b-1c643d156d58
- 18 Nov 2016 at 20:17 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/e1537f3b-9abe-4c56-b08c-de678d2113cf

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/72c3a367-2df0-4c36-b96b-1c643d156d58
  20th January 2017 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/e1537f3b-9abe-4c56-b08c-de678d2113cf
  5th September 2016 - Opportunity notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/3d06a847-57f1-4c24-916b-1eb2f4a5a76c
  Invitation to tender letter
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/9bf0cd55-38a2-4ea2-bba0-261d3495cdbd
  Invitation to tender letter
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/86531950-7bd6-486b-8f69-8217b82e96ec
  Invitation to tender letter
- https://www.contractsfinder.service.gov.uk/Notice/SupplierAttachment/3a28f96e-c8ad-47e1-b0e0-0ff1d57b09ed
  Contract

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-206c18d8-adca-11e6-9901-0019b9f3037b. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-206c18d8-adca-11e6-9901-0019b9f3037b.json.