Published date: 13 January 2020

Closed opportunity - This means that the contract is currently closed. The buying department may be considering suppliers that have already applied, or no suitable offers were made.


Closing: 7 February 2020

Contract summary

Industry

  • Research and development services and related consultancy services - 73000000

Location of contract

E14 4PU

Value of contract

£0

Procurement reference

tender_229842/828318

Published date

13 January 2020

Closing date

7 February 2020

Contract start date

30 March 2020

Contract end date

31 March 2021

Contract type

Service contract

Procedure type

Open procedure (below threshold)

Any interested supplier may submit a tender in response to an opportunity notice.

This procedure can be used for procurements below the relevant contract value threshold.

Contract is suitable for SMEs?

Yes

Contract is suitable for VCSEs?

No

Description

Please visit the following link to access this tender:

https://nesttenders.bravosolution.co.uk/web/login.shtml

The brief
While automatic enrolment has worked very successfully to prompt pension savings behaviour with employees, it relies on the employer to enrol the employee and take contributions. Self-employed people do not have a default savings mechanism such as automatic enrolment through an employer to facilitate retirement saving. In addition, self-employed people face a number of different barriers to saving for retirement including often irregular and/or uncertain income. Based on our preliminary research the kinds of platforms that self-employed people use to find work, take payments and manage their finances have been highlighted as points of contact most promising to design solutions to bridge this gap.

Nest Insight is now keen to find an organisation to collaborate with us that can develop, test and trial these solutions in practice and assist Nest Insight with some research activities.

Thus, we are seeking a collaboration with a provider who can:
- Design, develop and implement tools and/or mechanisms to trial with self-employed people that have the potential to encourage long term and retirement savings within our proposed research trial designs,
- Access self-employed people to take part in the trial,
- Obtain any necessary authorisation or licence from the relevant authorities (if applicable),
- Run the trial of the tools and /or mechanism mentioned above,
- Actively participate in the research work activities with Nest Insight, and
- With regard to the research activities, collect, process as required by Nest and share the data (including personal data if required) with Nest.

Our primary research question for Trial and Research - Design A is:

Do 'set and forget' interventions that mimic features of auto-deduction from payroll increase persistency/contributions into longer-term/retirement savings for self-employed people?

1. Development of pilot tools/ mechanisms and trial phase

1.1 Development and trial of the pilot tools/mechanisms
Nest Insight is looking to collaborate with an organisation that can deliver a mechanism or condition on their platform to suitably make an automatic deduction or 'sweep' of savings into a long term or retirement vehicle (this could be a pension or other long-term savings account, or a ring-fenced savings account or 'pot' to mimic a separate account intended for this retirement saving).
The collaborator will need to develop the tool and/or mechanism, run the trial and obtain the relevant approvals, licenses and authorisations as necessary.

About the buyer

Address

10 South Colonnade
London
E14 4PU
England

Email

Procurement@nestcorporation.org.uk