Published date: 23 June 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: 24 July 2020

Contract summary

Industry

  • Financial consultancy services - 66171000

Location of contract

Any region

Value of contract

£160,000

Procurement reference

tender_241775/864487

Published date

23 June 2020

Closing date

24 July 2020

Contract start date

1 October 2020

Contract end date

31 March 2021

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?

No

Description

Foreign and Commonwealth Office (FCO) is looking for a provider of consultancy services and research on defined contribution pensions investment practices and the use of target funds and default funds in China.

For this specific project the supplier is to carry out research into current defined contribution pensions investment practices in China and draw on the best practices on the use of Target Date Funds and Default Funds for defined contribution pensions from around the world, to establish the extent to which these practices could be replicated in China to support future automatic enrolment.

The goal of the project is to develop a model Default Fund design in China based on the findings of the research, with input from relevant stakeholders.
The Pensions Pillar work within the Prosperity Fund Financial Services (FS) Programme (the Programme) in the People's Republic of China is intended to address the current issues associated with the transition from China's current heavy dependence on Pillar 1 pensions to a future multi-pillar pensions regime.

This contract will be for the delivery of research and analysis on Target Date Funds and Default Fund design, considering current and best practices in China, the UK and around the world. From this research, recommendations for a model Default Fund design for defined contribution pensions to support automatic enrolment should be developed, with input from key stakeholders.

The supplier will be expected to deliver the following specific outputs:

1. A detailed China 'as-is' analysis paper which should, at minimum, include:

a. Analysis of China's current pensions investment practices, capabilities and infrastructure; and

b. Analysis and write up on the extent to which Target Date funds are currently used in China.

2. UK Target Date Funds & Default Funds analysis report. Consisting of an analysis into how Target Date Fund strategies and Default Funds have been utilised in the UK to support automatic enrolment.

3. Global Best Practices analysis report consisting of analysis into best practices on the use of target date funds and default funds from around the world.

4. A proposed model for Default Fund Design for Pillar II pensions in China. This output breaks down into:

a. The development of the proposed model;

b. The organising of workshops with relevant parties to test methodology and investment strategy with key stakeholders.

To access the tender documents, please login or register to FCO's e-sourcing portal https://fco.bravosolution.co.uk. If you have any technical issues with accessing the tender documents, please call e-sourcing helpdesk: +44 203 608 4013 or email: help@bravosolution.co.uk.

Any queries related to the subject of this tender should be sent via the messaging function for the itt_3826 - project_4482 - PF China - Pensions Workstream 5 Project 1.

More information

Links

Additional text

To access the tender documents, please login or register to FCO's e-sourcing portal https://fco.bravosolution.co.uk. If you have any technical issues with accessing the tender documents, please call e-sourcing helpdesk: +44 203 608 4013 or email: help@bravosolution.co.uk.

Any queries related to the subject of this tender should be sent via the messaging function for the itt_3821 - PF China Financial Services Programme Fin Tech Pillar Workstream 3 Project 2 "Regulatory Sandbox" knowledge exchange and training.

About the buyer

Address

King Charles Street
London
SW1A 2AH
England

Email

ChinaFCOFSPProcurement@thepalladiumgroup.com