--- title: "TEN-2021-001 Sidecar Savings Trial Qualitative Research" ocid: "ocds-b5fd17-86a73774-80e2-4e3a-81d4-da833b179251" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-86a73774-80e2-4e3a-81d4-da833b179251" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-86a73774-80e2-4e3a-81d4-da833b179251.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-86a73774-80e2-4e3a-81d4-da833b179251.json" source: "Contracts Finder" current_stage: "Tender" buyer: "NATIONAL EMPLOYMENT SAVINGS TRUST (NEST)" published: "2020-04-15" --- # TEN-2021-001 Sidecar Savings Trial Qualitative Research Buyer: NATIONAL EMPLOYMENT SAVINGS TRUST (NEST) Current stage: Tender OCID: ocds-b5fd17-86a73774-80e2-4e3a-81d4-da833b179251 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-86a73774-80e2-4e3a-81d4-da833b179251) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-86a73774-80e2-4e3a-81d4-da833b179251.json) ## Summary The National Employment Savings Trust (NEST) is currently conducting a tender titled "TEN-2021-001 Sidecar Savings Trial Qualitative Research" in the services industry. This procurement is at the Tender stage, with a deadline for submissions set for 7th May 2020. The research aims to explore innovative savings solutions for low to moderate earners, utilising a hybrid sidecar savings tool to enhance financial wellbeing. The contract period is anticipated to commence on 18th May 2020 and conclude by 18th November 2020, based in London, United Kingdom. This tender represents a significant opportunity for SMEs specialising in research and development services, particularly those with expertise in finance and behavioural studies. Businesses that can contribute to enhancing saving behaviours, particularly for at-risk groups including gig workers and self-employed individuals, are particularly well-suited to compete. Collaborations with academic institutions or experience in delivering similar research projects could also provide a competitive advantage in this innovative procurement process. ## Notice To access this tender opportunity please visit Nest's E-Sourcing portal at the following link: https://nesttenders.bravosolution.co.uk/web/login.shtml Nest Insight is a collaborative research and innovation think tank. We're working to understand the challenges people face in saving for their later lives, and to develop and test solutions to those challenges. Although we sit within Nest and draw learnings from the rich set of data Nest is building, we also work across the industry with other providers, from pensions, banking, fintech and beyond. We share all our work widely to influence industry and policy makers in the UK and internationally. We depend on sponsorships, grants and in-kind support from organisations that share our values. We work on three main areas to help low to moderate earners achieve the outcomes they hope for at retirement: 1. Smarter saving behaviours: Positively influencing the behaviour of current retirement savers - focusing on those behaviours that will make the greatest difference to their retirement outcomes. 2. Supporting at risk groups to save: Extending participation in retirement saving to at risk and excluded groups, including those outside of 'traditional' employment such as self-employed people, gig workers and carers and those who may face additional challenges, such as people living with mental health conditions. 3. Saving in context: Looking at retirement saving in the context of the whole household balance sheet to understand how different financial behaviours interact with retirement saving, and how best to help people manage the trade-offs and tensions between different priorities. We do this through an ambitious programme of research, trials, events and publications, delivered in partnership with academics, think tanks, government and the industry. 1.2.The UK Sidecar Savings Trial Nest Insight is currently conducting a research trial of a hybrid sidecar savings tool in the UK. Over a multi-year research project we are exploring whether creating a link between liquid and illiquid savings enhances the financial wellbeing of savers. The research team is led by Professor David Laibson of Harvard University and includes other academics as well as researchers from Nest Insight and the Money and Pensions Service. The work is jointly funded by BlackRock, the JP Morgan Chase Foundation and the Money and Pensions Service. The appointed savings technology partner is Salary Finance. The trial is exploring whether a hybrid savings tool can address two consumer finance issues: - According to research by MAPS, only 44 per cent of the UK's working population have PS500 or more in liquid savings on hand for emergencies, and 26 per cent have nothing. This means that many may have no choice but to turn to high cost sources of credit/borrowing if a they're faced with a high or unexpected cost. ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/55a7ede8-de41-4c97-8362-58378cb5a07a | | Notice type | Tender Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Open | | Procurement method details | Open procedure (below threshold) | | Tender suitability | SME | | Awardee scale | Not specified | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 15 Apr 2020 | | Submission deadline | 7 May 2020 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | 17 May 2020 - 18 Nov 2020 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | Not specified | | 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 - 73 - Research and development services and related consultancy services ### Codes - 73000000 - Research and development services and related consultancy services ## Release History - 15 Apr 2020 at 16:01 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/55a7ede8-de41-4c97-8362-58378cb5a07a ## Documents - https://www.contractsfinder.service.gov.uk/Notice/55a7ede8-de41-4c97-8362-58378cb5a07a 15th April 2020 - Opportunity notice on Contracts Finder ## Notice URLs - https://nesttenders.bravosolution.co.uk/web/login.shtml ## 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-b5fd17-86a73774-80e2-4e3a-81d4-da833b179251. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-86a73774-80e2-4e3a-81d4-da833b179251.json.