---
title: "TEN-2324-041 Retirement Solution Services"
ocid: "ocds-b5fd17-40fbe27c-7393-43d2-83b6-d05a5649384a"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-40fbe27c-7393-43d2-83b6-d05a5649384a"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-40fbe27c-7393-43d2-83b6-d05a5649384a.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-40fbe27c-7393-43d2-83b6-d05a5649384a.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "NATIONAL EMPLOYMENT SAVINGS TRUST (NEST)"
published: "2024-05-16"
---

# TEN-2324-041 Retirement Solution Services

Buyer: NATIONAL EMPLOYMENT SAVINGS TRUST (NEST)  
Current stage: Award  
OCID: ocds-b5fd17-40fbe27c-7393-43d2-83b6-d05a5649384a

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## Summary

The National Employment Savings Trust (NEST) has awarded a contract for research consultancy services titled "TEN-2324-041 Retirement Solution Services". The project involves providing insight into flexible access drawdown, evolving lifelong income solutions, and supporting member decision-making. The contract value is £99,000, with the tender period ending on 12th April 2024. The contract period spans from 7th May 2024 to 7th May 2025. The procurement method is an open procedure below threshold. NEST is located at 10 South Colonnade, Canary Wharf, London, E14 4PU, England.

This tender by NEST for research consultancy services presents an opportunity for businesses interested in the financial services industry. Small and medium-sized enterprises (SMEs) are well-suited to compete in this tender. Businesses that have experience in providing research services and expertise in retirement solutions would find this tender particularly relevant. The award was granted to Ignition House, reflecting a potential niche for larger consultancy firms specializing in financial research and analysis. The contract period offers a one-year opportunity for the awarded supplier to showcase their capabilities and contribute to NEST's retirement solutions.

## Notice

Research project is being commissioned to provide insight into three broad areas: The introduction of flexible access drawdown. This might be described as the 'do it myself' option, where individuals want complete control. It would sit alongside the current self-managed options outlined on our website - taking all their pot in one lump sum, with the first 25% paid tax free, and taking ad hoc or regular withdrawals from their pot with 25% of every withdrawal being paid tax free (what is known technically as an uncrystallised fund lump sum withdrawal). The evolution of our lifelong income solution (building on the current Nest Guided Retirement fund and introducing a deferred annuity element). In contrast to flexible access drawdown this might be described as the 'do for me' option, where Nest takes the responsibility to delivering a sustainable lifelong income and the on-going decisions an individual must make are minimal. The supporting communication, tools and guidance that aids member decision making.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/bed56229-5d82-40a1-8dc2-6a6ee0f5e030 |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure (below threshold) |
| Tender suitability | SME |
| Awardee scale | Large |
| All stages | Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 16 May 2024 |
| Submission deadline | 12 Apr 2024 |
| Future notice date | Not specified |
| Award date | 23 Apr 2024 |
| Contract period | 6 May 2024 - 7 May 2025 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £99,000 |
| Lots value | Not specified |
| Awards value | £99,000 |
| 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 | NATIONAL EMPLOYMENT SAVINGS TRUST (NEST) |
| Locality | LONDON |
| Post town | East London |
| Postcode | E14 4PU |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI4 Inner London - East |
| ITL 3 | TLI42 Tower Hamlets |
| Local authority | Tower Hamlets |
| Electoral ward | Canary Wharf |
| Westminster constituency | Poplar and Limehouse |
| Delivery location | TLI London |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | IGNITION HOUSE |

## CPV Codes

### Divisions

- 73 - Research and development services and related consultancy services

### Codes

- 73210000 - Research consultancy services

## Release History

- 16 May 2024 at 16:02 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/bed56229-5d82-40a1-8dc2-6a6ee0f5e030

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/bed56229-5d82-40a1-8dc2-6a6ee0f5e030
  16th May 2024 - Awarded contract notice on Contracts Finder

## 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-b5fd17-40fbe27c-7393-43d2-83b6-d05a5649384a. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-40fbe27c-7393-43d2-83b6-d05a5649384a.json.