Published date: 15 April 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.
Contract summary
Industry
Research and development services and related consultancy services - 73000000
Location of contract
E14 4PU
Value of contract
£0
Procurement reference
tender_238628/850310
Published date
15 April 2020
Closing date
7 May 2020
Contract start date
18 May 2020
Contract end date
18 November 2020
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
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 £500 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.
About the buyer
Address
1st floor, 10 S Colonnade, Canary Wharf, London
London
E14 4PU
England
Share this notice
Closing: 7 May 2020
All content is available under the
