---
title: "Nest Scheme Banking Services"
ocid: "ocds-b5fd17-7c637acb-5447-44ef-871d-a570ca8a12d6"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-7c637acb-5447-44ef-871d-a570ca8a12d6"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-7c637acb-5447-44ef-871d-a570ca8a12d6.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-7c637acb-5447-44ef-871d-a570ca8a12d6.json"
source: "Contracts Finder"
current_stage: "Tender"
buyer: "NATIONAL EMPLOYMENT SAVINGS TRUST (NEST)"
published: "2024-02-22"
---

# Nest Scheme Banking Services

Buyer: NATIONAL EMPLOYMENT SAVINGS TRUST (NEST)  
Current stage: Tender  
OCID: ocds-b5fd17-7c637acb-5447-44ef-871d-a570ca8a12d6

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## Summary

The National Employment Savings Trust (NEST) is seeking to procure a new banking contract for the Nest Scheme. The tender, titled "Nest Scheme Banking Services", aims to manage members' contributions, provide pension pot valuations, and facilitate benefit payments. The procurement, classified under banking services, has a value of £2,000,000 and follows an open procedure above the threshold. The tender period ends on 28th March 2024, with a contract period starting on 31st July 2024 and ending on 30th July 2037. The buying organisation, NEST, is located in London, United Kingdom.

This tender presents an opportunity for businesses in the banking industry to secure a lucrative contract with NEST. Companies well-versed in providing banking services and handling financial transactions would be well-suited for this competition. The procurement process is currently in the tender stage, offering businesses a chance to demonstrate their expertise in managing pension funds and providing financial services. The contract duration until 2037 provides a stable revenue stream for the successful bidder, making it an attractive opportunity for businesses looking to grow within the financial services sector.

## Notice

This ITT is to procure a new banking contract for the National Employment Savings Trust (Nest) Scheme, which is used for managing members contributions into the scheme, providing valuations of member's pension pots within the scheme, and paying member's benefits out of the scheme (including the transfer of funds into and out of member's other pension pots).

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/f6ca376b-0f4b-482d-ba1d-0815694eca53 |
| Notice type | Tender Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure (above threshold) |
| Tender suitability | Not specified |
| Awardee scale | Not specified |
| All stages | Tender |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 22 Feb 2024 |
| Submission deadline | 28 Mar 2024 |
| Future notice date | Not specified |
| Award date | Not specified |
| Contract period | 30 Jul 2024 - 30 Jul 2037 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £2,000,000 |
| Lots value | Not specified |
| Awards value | Not specified |
| Contracts value | Not specified |

## Status

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

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66110000 - Banking services

## Release History

- 22 Feb 2024 at 10:30 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/f6ca376b-0f4b-482d-ba1d-0815694eca53

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/f6ca376b-0f4b-482d-ba1d-0815694eca53
  22nd February 2024 - Opportunity 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-b5fd17-7c637acb-5447-44ef-871d-a570ca8a12d6. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-7c637acb-5447-44ef-871d-a570ca8a12d6.json.