Published date: 14 April 2021
This notice was replaced on 10 March 2022
This notice does not contain the most up-to-date information about this procurement. The most recent notice is:
Awarded contract (published 10 March 2022, last edited 21 May 2024)
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
Software package and information systems - 48000000
Location of contract
London
Value of contract
£0
Procurement reference
tender_267907/951191
Published date
14 April 2021
Closing date
14 May 2021
Closing time
1pm
Contract start date
12 October 2021
Contract end date
11 October 2029
Contract type
Service contract
Procedure type
Open procedure (above threshold)
Any interested supplier may submit a tender in response to an opportunity notice.
This procedure can be used for procurements above the relevant contract value threshold.
Contract is suitable for SMEs?
Yes
Contract is suitable for VCSEs?
Yes
Description
The PPF is seeking to procure a licence for an Economic Scenario Model (ESM) for use in assumption-generation for a range of medium and long-term modelling. The chosen solution must be able to provide a real-world calibration of an appropriate timeframe, including outputs for a sufficiently broad range of asset classes given the investment strategy of the PPF and the pension schemes it protects. The outputs should also facilitate the projection of the liabilities of the PPF and those of the pension scheme it protects. The chosen candidate should be able to provide a regular, well-justified and researched 'house view' calibration. However, the solution should also provide the flexibility to apply user-defined calibrations. Calibration should be quick and efficient, with good quality reporting allowing for easy validation of inputs and outputs. The PPF conducts regular stress testing and the chosen solution should be able to support deterministic, stochastic and deterministic-to-stochastic stresses and scenarios. As well as appropriate technical functionality, the successful candidate will also provide implementation services, technical support, training and knowledge sharing, committing to a range of SLAs and regular feedback sessions to ensure client satisfaction. It is essential that the solution is compatible with the PPF's IT systems. The anticipated contract duration is five (5) years then three (3) extensions of one year each at the sole option of the PPF.
More information
Additional text
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The Pension Protection Fund (PPF) is tendering a contract for an Economic Scenario Model (ESM) in accordance with the Public Contracts Regulations 2015 under the Open Procedure.
To take part in this procurement, you must provide a completed tender by the submission deadline.
Full details of the requirements and how to respond are available in the Economic Scenario Model ITT Guidance v1.0 document which can be found at:
https://ppf.bravosolution.co.uk/web/login.html
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