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| Source: | Contracts Finder |
| Notice Type: | Award notice |
| Buyer: | NATIONAL EMPLOYMENT SAVINGS TRUST (NEST) CORPORATION |
| Main Category: | Services |
| Procurement Method: | Negotiated procedure without prior publication (above threshold) |
| Tender Status: | Closed |
| Estimated Value (ex. VAT): |
Pipeline status
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Application Deadline
25 May 2023
Closed
Estimated Value
£1,500,000,000
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| Release Date: | 21 June 2023 |
| Application Deadline: | 25 May 2023 |
| Contract Start Date: | 20 June 2023 |
| Contract End Date: | 20 June 2033 |
| Contract Duration: | 10.2 years |
| Procurement ID (OCID): | ocds-b5fd17-cd420747-0b1c-40d6-b53c-b2f1527ea6a4 |
| Notice Reference: | 8bb4718f-c70a-47a6-8361-cf1ee254bfc3-647529 |
View Original Notice
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Awarded to
| Award value: | £1,500,000,000 |
| Award decision date: | 24 May 2023 |
| Award status: | Active |
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.