--- title: "Junior ISAs 2023 FTS" ocid: "ocds-h6vhtk-03738c" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-03738c" markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-03738c.md" json_url: "https://d3tenders.com/contract/ocds-h6vhtk-03738c.json" source: "Find A Tender Service" current_stage: "Award" buyer: "DEPARTMENT FOR EDUCATION" published: "2023-04-17" --- # Junior ISAs 2023 FTS Buyer: DEPARTMENT FOR EDUCATION Current stage: Award OCID: ocds-h6vhtk-03738c [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-03738c) [Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-03738c.json) ## Summary The Department for Education has awarded a contract for the provision of Junior ISAs (Individual Savings Accounts) and Child Trust Funds services to The Share Foundation. The contract, titled "Junior ISAs 2023 FTS," falls under the "Banking and investment services" category and involves the management and administration of long-term tax-advantaged saving accounts for children up to the age of 18. The contract value is £1,893,519.20, with a signing date of 31st March 2023. The Department for Education is based in London, UK, and the procurement stage is marked as "complete." This contract presents opportunities for businesses involved in financial services, fund management, IT infrastructure, and financial education to engage with the Department for Education. Companies that can effectively manage funds, provide educational resources, and ensure compliance with financial regulations are well-suited to compete for this contract. Businesses interested in providing services related to individual savings accounts and financial management for children and young adults could benefit from participating in the procurement process. ## Notice Junior ISAs (JISA's) and Child Trust Funds (CTF's) are long term tax-advantaged saving accounts for children up to the age of 18. Children are eligible for a JISA if they are under 18, resident in the UK, and not eligible for a CTF. Anyone can pay money into the accounts, but the funds cannot then be accessed by the account holder until their 18th birthday (or are terminally ill). At 18, the account will mature into a standard (adult) ISA or the funds will be withdrawn. Children looked after for 12 months or more and not eligible for a Child Trust Fund (CTF) are entitled to a PS200 payment from the government into a Junior ISA. The supplier will ensure eligible children receive the payments due to them under the JISA scheme: by acquiring the necessary data from LAs, opening JISAs for those children, making payments into these JISAs, and providing information about the JISAs opened and payments made to LAs, CiC and their carers. The supplier invoices the DfE on a two-weekly basis for the numbers of JISAs opened and submits invoices quarterly to the DfE to cover payments for administration of the scheme. The delivery partner's role will also involve: * Fund Management * Management Reporting and Data Requests * IT infrastructure * Delivery of financial education * Fundraising for additional donations In addition to the contract, a separate Grant Funding Agreement will be put in place between the Department for Education and the successful delivery partner. This will enable payments of PS200 to be made into each new JISA that is opened. ### Lot Information Lot 1 Junior ISAs (JISA's) and Child Trust Funds (CTF's) are long term tax-advantaged saving accounts for children up to the age of 18. Children are eligible for a JISA if they are under 18, resident in the UK, and not eligible for a CTF. Anyone can pay money into the accounts, but the funds cannot then be accessed by the account holder until their 18th birthday (or are terminally ill). At 18, the account will mature into a standard (adult) ISA or the funds will be withdrawn. Children looked after for 12 months or more and not eligible for a Child Trust Fund (CTF) are entitled to a PS200 payment from the government into a Junior ISA. The supplier will ensure eligible children receive the payments due to them under the JISA scheme: by acquiring the necessary data from LAs, opening JISAs for those children, making payments into these JISAs, and providing information about the JISAs opened and payments made to LAs, CiC and their carers. The supplier invoices the DfE on a two-weekly basis for the numbers of JISAs opened and submits invoices quarterly to the DfE to cover payments for administration of the scheme. The delivery partner's role will also involve: * Fund Management * Management Reporting and Data Requests * IT infrastructure * Delivery of financial education * Fundraising for additional donations In addition to the contract, a separate Grant Funding Agreement will be put in place between the Department for Education and the successful delivery partner. This will enable payments of PS200 to be made into each new JISA that is opened. Options: 2x1 year options to extend 2027-2028 2028-2029 ## Key Details | Field | Value | | --- | --- | | Publication source | Find A Tender Service | | Latest notice | https://www.find-tender.service.gov.uk/Notice/011000-2023 | | Notice type | Planning Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Open | | Procurement method details | Open procedure | | Tender suitability | Not specified | | Awardee scale | SME | | All stages | Planning, Award | ## Dates | Field | Value | | --- | --- | | Publication date | 17 Apr 2023 | | Submission deadline | Not specified | | Future notice date | 16 Oct 2022 | | Award date | 30 Mar 2023 | | Contract period | Not specified | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £1,200,000 | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | £1,893,519 | ## Status | Field | Value | | --- | --- | | Tender status | Complete | | Lots status | Cancelled | | Awards status | Active | | Contracts status | Active | ## 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 - 85 - Health and social work services ### Codes - 66100000 - Banking and investment services - 85300000 - Social work and related services ## Release History - 17 Apr 2023 at 14:57 - Award - Award Notice - https://www.find-tender.service.gov.uk/Notice/011000-2023 - 6 Oct 2022 at 14:37 - Planning - Planning Notice - https://www.find-tender.service.gov.uk/Notice/028127-2022 ## Notice URLs - http://To - http://ToreceiveaccesstothetenderdocumentsbiddersmustregisterontheDepartmentforEducation'sJaggaersystemhere:https://education.app.jaggaer.com/web/login.html - https://education.app.jaggaer.com/web/login.html - https://www.gov.uk/government/organisations/department-for-education ## 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-h6vhtk-03738c. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-03738c.json.