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United Kingdom-London: Financial and insurance services
Prior information notice
This notice is for prior information only
Section I: Contracting authority
Section II: Object
Provision of NEST Scheme Administration Services
NEST is a great UK delivery success story. Established in 2010 to support the introduction of automatic enrolment, we have a Public service obligation (PSO) to support any employer wishing to use the scheme to discharge their automatic enrolment duties.
From a standing start, we delivered a high quality, low cost pension scheme open to all which has delivered on its mission and helped to drive up standards and best practice across the industry. Now with over 6 000 000 members, over 600 000 employers, and more than 2 000 000 000 GBP Assets Under Management, NEST is playing a critical role in helping people save for their retirement. Many of them are low to moderate earners, who may be saving for the first time, and moving jobs frequently.
Our first challenge, to take on thousands of employers as they enrolled their employees, is complete.
Our vision is to help millions enjoy a better retirement and we want to do everything we can to help them achieve the best retirement outcomes they can.
The requirements will include the provision of services needed to support the NEST scheme administration. Currently we have over 6 000 000 members and over 600 000 employers. At the expiry of our current contract in 2023 the member numbers are expected to have increased to approximately 12 000 000 and employer numbers remain at approximately 600 000 with annual churn.
The scheme administration is expected to include a range of functional business processes including (but not limited to):
— employer participation,
— member enrolment,
— contribution administration,
— employer administration,
— member administration,
— accessing pension savings,
— administration of tax relief,
— life events management.
We anticipate these functional business processes to be supported by the following (but not limited to):
— financial transaction services,
— management information services,
— identity verification services,
— behavioural analysis and transactional monitoring services,
— case and workflow management,
— interfaces with fund administrator services,
— user account services,
— content management services,
— channel services,
— operational communication services,
— strategic communication services,
— security services,
— change management services,
— governance services.
We have provided further detail within our Procurement Discussion Note, please see the additional information section for details on how this can be accessed. (VI.3).
Any procurement will comply with the Public Contracts Regulations 2015. NEST anticipate a competitive dialogue may be used.
Section IV: Procedure
Section VI: Complementary information
Procurement discussion note:
In addition to this PIN, NEST is also providing a Procurement discussion note (PDN) which includes details on our background, vision, current assumptions and next steps.
NEST would like to engage with the market on a range of topics and have included a set of questions within the PDN. This is an informal consultation exercise in advance of (and distinct from) any formal procurement process, however NEST would strongly encourage that interested parties view and respond to the PDN.
Procurement Information Event:
All interested parties are invited to attend the Procurement Information Event to be held on 14.6.2018. The event will provide interested parties with the opportunity to hear further information about NEST and the future procurement from key figures in the organisation. Further details of the event will be made available on https://nesttenders.bravosolution.co.uk/web/login.shtml
For access to the PDN and further details on the Procurement Information Event please follow the link below to NEST’s eTendering portal.