Published date: 21 June 2023

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 25 May 2023, 10am

Contract summary

Industry

  • Financial and insurance services - 66000000

Location of contract

e14 4pu

Value of contract

£1,500,000,000

Procurement reference

NEST Service administration contract award

Published date

21 June 2023

Closing date

25 May 2023

Closing time

10am

Contract start date

21 June 2023

Contract end date

20 June 2033

Contract type

Service contract

Procedure type

Negotiated procedure without prior publication (above threshold)

The opportunity was not advertised, because for example only one supplier is capable of delivering the requirement, or due to extreme urgency brought about by unforeseen events.

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

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

Description

The Authority has awarded a contract to Tata Consultancy Services (TCS) for the build, delivery and operation of administration services for the defined contribution pension scheme known as the National Employment Savings Trust. The administration services will support auto-enrolment and be delivered primarily via digital channels.

The contract will be for a minimum term of 10 years, with an optional extension period of up to 5 years, and the option of an additional period of up to 3 years for exit. The total contract value is indicative and covers this potential 18 year period.

The Authority considers that competition is absent for technical reasons and so has awarded the contract to TCS without publishing a prior call for competition. The Authority and TCS entered into the contract on 21/06/23.

Award information

Awarded date

25 May 2023

Contract start date

21 June 2023

Contract end date

20 June 2033

Total value of contract

£1,500,000,000

This contract was awarded to 1 supplier.

Tata Consultancy Services Limited

Address

18 Grosvenor Place
London
SW1X 7HS
United Kingdom

Reference

Companies House number: BR007627

Value of contract

£1,500,000,000

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Contact name

bhavesh patel

Address

10 south Colonnade
canary wharf
london
E14 4PU
England

Email

bhavesh.patel@nestcorporation.org.uk

Website

www.nestpensions.org.uk