Published date: 16 May 2024

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


Closing: 12 April 2024, 5pm

Contract summary

Industry

  • Research consultancy services - 73210000

Location of contract

E14 4PU

Value of contract

£99,000

Procurement reference

tender_429796/1356634

Published date

16 May 2024

Closing date

12 April 2024

Closing time

5pm

Contract start date

7 May 2024

Contract end date

7 May 2025

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

Research project is being commissioned to provide insight into three broad areas:

The introduction of flexible access drawdown. This might be described as the 'do it myself' option, where individuals want complete control. It would sit alongside the current self-managed options outlined on our website - taking all their pot in one lump sum, with the first 25% paid tax free, and taking ad hoc or regular withdrawals from their pot with 25% of every withdrawal being paid tax free (what is known technically as an uncrystallised fund lump sum withdrawal).

The evolution of our lifelong income solution (building on the current Nest Guided Retirement fund and introducing a deferred annuity element). In contrast to flexible access drawdown this might be described as the 'do for me' option, where Nest takes the responsibility to delivering a sustainable lifelong income and the on-going decisions an individual must make are minimal.

The supporting communication, tools and guidance that aids member decision making.

Award information

Awarded date

24 April 2024

Contract start date

7 May 2024

Contract end date

7 May 2025

Total value of contract

£99,000

This contract was awarded to 1 supplier.

Ignition House

Address

Holyleas House, Buckland Newton, Dorchester, DT2 7DP

Reference

Companies House number: 06901578

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Address

10 South Colonnade, Canary Wharf
London
E14 4PU
England

Email

Procurement@nestcorporation.org.uk