---
title: "TEN-2425-042 Co-Design and Provision of a Bulk Deferred Annuity"
ocid: "ocds-h6vhtk-05076b"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-05076b"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-05076b.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-05076b.json"
source: "Find A Tender Service"
current_stage: "Award"
buyer: "NATIONAL EMPLOYMENT SAVINGS TRUST (NEST) CORPORATION"
published: "2026-02-02"
---

# TEN-2425-042 Co-Design and Provision of a Bulk Deferred Annuity

Buyer: NATIONAL EMPLOYMENT SAVINGS TRUST (NEST) CORPORATION  
Current stage: Award  
OCID: ocds-h6vhtk-05076b

[View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-05076b)  
[Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-05076b.json)

## Summary

The National Employment Savings Trust (NEST) Corporation, located in London, is the buying organisation for the project titled "TEN-2425-042 Co-Design and Provision of a Bulk Deferred Annuity", under the industry category of pension investment services. This procurement process, completed on 2nd February 2026, involved a complex multi-stage flexible competitive procedure to select an insurer, Rothesay Life PLC, which is based in London, to partner with NEST for co-designing a bulk deferred annuity. The contract spans from 28th January 2026 to 27th January 2038, with potential extensions up to 2040. The procurement method was open, aligned with the UK Procurement Act 2023, and the process covered services under the Government Procurement Agreement (GPA).

This tender presents significant business growth opportunities, particularly for large insurance companies capable of developing and delivering innovative pension investment services. The contract involves a comprehensive co-design phase, making it suitable for organisations with strong product development capabilities and strategic partnership potential. Given the scale and specialised nature of the contract, smaller enterprises or VCSEs were unlikely to participate in the final stages. The opportunity to collaborate with NEST, a central public authority, could enhance a supplier's market position and showcase expertise in handling complex, long-term government contracts.

## Notice

Nest was seeking an insurer to partner with to develop a bulk deferred annuity. We anticipate that the supplier appointed to partner with Nest for the co-design period would also be appointed to be the provider of the bulk annuity to Nest for an exclusive period. Due to the complexity of the service and contract, the procurement was run as a full over threshold competitive flexible procedure with various stages.

### Lot Information

Lot 1

Renewal: 2 year extension in 1 year intervals

### Planning Information

Nest has already conducted an early market engagement exercise with suppliers to test Nest’s proposed approach. Nest engaged with suppliers individually along with a specialised consultant, first having initial meetings, with then follow up meetings to review changes to Nest approach and then to help refine the procurement process. A list of the meetings undertaken and their purpose are detailed below. 
Initial kick-off meetings with suppliers to describe what Nest are looking to procure held on 5th, 6th, 9th 11th, 16th, 17th, 18th & 19th December. 
Update meetings to provide updates were held on 20th December 2024 and 7th, 10th, 13th, 15th, 20th January 2025 and 13th & 14th February 2025. 
Further information gathering sessions to ask insurers questions which will help to shape and feed into the procurement approach held – 27th & 28th February and 4th& 7th March.
Meetings to discuss length/value of exclusivity period held 10th March.
Senior Engagement meetings held 31st March & 14th April

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/009032-2026 |
| Notice type | UK7 - Contract Details Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Competitive flexible procedure |
| Tender suitability | Not specified |
| Awardee scale | Large |
| All stages | Planning, Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 2 Feb 2026 |
| Submission deadline | 9 May 2025 |
| Future notice date | 25 Apr 2025 |
| Award date | 25 Nov 2025 |
| Contract period | 28 Jan 2026 - 27 Jan 2038 |
| 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 | Complete |
| Lots status | Complete |
| Awards status | Active |
| Contracts status | Active |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | NATIONAL EMPLOYMENT SAVINGS TRUST (NEST) CORPORATION |
| Additional buyers | NEST CORPORATION |
| 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 | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | ROTHESAY LIFE |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66131100 - Pension investment services

## Release History

- 2 Feb 2026 at 14:47 - Award - UK7 - Contract Details Notice - https://www.find-tender.service.gov.uk/Notice/009032-2026
- 16 Jan 2026 at 10:00 - Award - UK6 - Contract Award Notice - https://www.find-tender.service.gov.uk/Notice/003743-2026
- 25 Apr 2025 at 09:38 - Tender - UK4 - Tender Notice - https://www.find-tender.service.gov.uk/Notice/016950-2025
- 25 Apr 2025 at 09:29 - Planning - UK2 - Preliminary Market Engagement Notice - https://www.find-tender.service.gov.uk/Notice/016947-2025

## Documents

- https://www.find-tender.service.gov.uk/Notice/009032-2026
  2nd February 2026 - Contract details notice on Find a Tender
- https://www.find-tender.service.gov.uk/Notice/003743-2026
  16th January 2026 - Contract award notice on Find a Tender
- https://www.find-tender.service.gov.uk/Notice/016950-2025
  25th April 2025 - Tender notice on Find a Tender
- https://www.find-tender.service.gov.uk/Notice/016947-2025
  25th April 2025 - Preliminary market engagement notice on Find a Tender

## Notice URLs

- http://Rothesay.com
- https://nesttenders.bravosolution.co.uk/
- https://www.legislation.gov.uk/ukpga/2023/54/contents

## 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-05076b. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-05076b.json.