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Contract Notice

Pension Comparison Tools

  • First published: 29 April 2023
  • Last modified: 29 April 2023
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Contents

Summary

OCID:
ocds-h6vhtk-03c560
Published by:
Money and Pensions Service
Authority ID:
AA78892
Publication date:
29 April 2023
Deadline date:
30 May 2023
Notice type:
Contract Notice
Has documents:
No
Has SPD:
No
Has Carbon Reduction Plan:
N/A

Abstract

MaPS provides an Annuity comparison tool for consumers to use on its consumer facing website MoneyHelper. The existing Annuities Comparison Tool was launched in 2014 and attracts around 100,000 visits a year. The contract for the existing tool ends 10th October 2023, and MaPS require a new annuity comparison tool for consumers to access.

The tool allows users to compare the income they might get from a lifetime or fixed-term annuity from the whole of the open market. Users can select from all the annuity options available and input detailed medical information. Annuity providers are required by the Financial Conduct Authority (FCA) to signpost to the tool within the quotes they issue to consumers so that they can check if they could get a better deal by shopping around. Consumers can use the tool to obtain quotes for a lifetime annuity or a fixed term annuity. It is not a transactional tool i.e., an annuity cannot be directly purchased through it.

Full notice text

Contract notice

Section I: Contracting authority

I.1) Name and addresses

Money and Pensions Service

120 Holborn

LONDON

EC1N2TD

UK

Contact person: Laura Bradshaw

E-mail: Commercial@maps.org.uk

NUTS: UKI31

Internet address(es)

Main address: https://maps.org.uk/

I.3) Communication

The procurement documents are available for unrestricted and full direct access, free of charge at:

https://maps.app.jaggaer.com/


Additional information can be obtained from the abovementioned address


Tenders or requests to participate must be sent electronically to:

https://maps.app.jaggaer.com/


I.4) Type of the contracting authority

Other: Arm's-length body sponsored by the Department for Work and Pensions

I.5) Main activity

Economic and financial affairs

Section II: Object

II.1) Scope of the procurement

II.1.1) Title

Pension Comparison Tools

Reference number: 22-147C

II.1.2) Main CPV code

66520000

 

II.1.3) Type of contract

Services

II.1.4) Short description

The provision of services in respect of two digital pension guidance tools, to help consumers to compare their options and make the most of their retirement income when accessing their pension pots:

1. Annuities comparison tool

2. Investment Pathways comparison tool

II.1.5) Estimated total value

Value excluding VAT: 1 616 480.09  GBP

II.1.6) Information about lots

This contract is divided into lots: Yes

Tenders may be submitted for all lots

II.2) Description

Lot No: 1

II.2.1) Title

Annuities Comparison Tool

II.2.2) Additional CPV code(s)

66520000

II.2.3) Place of performance

NUTS code:

UK

II.2.4) Description of the procurement

MaPS provides an Annuity comparison tool for consumers to use on its consumer facing website MoneyHelper. The existing Annuities Comparison Tool was launched in 2014 and attracts around 100,000 visits a year. The contract for the existing tool ends 10th October 2023, and MaPS require a new annuity comparison tool for consumers to access.

The tool allows users to compare the income they might get from a lifetime or fixed-term annuity from the whole of the open market. Users can select from all the annuity options available and input detailed medical information. Annuity providers are required by the Financial Conduct Authority (FCA) to signpost to the tool within the quotes they issue to consumers so that they can check if they could get a better deal by shopping around. Consumers can use the tool to obtain quotes for a lifetime annuity or a fixed term annuity. It is not a transactional tool i.e., an annuity cannot be directly purchased through it.

II.2.5) Award criteria

Price is not the only award criterion and all criteria are stated only in the procurement documents

II.2.6) Estimated value

Value excluding VAT: 461 259.43  GBP

II.2.7) Duration of the contract, framework agreement or dynamic purchasing system

Duration in months: 36

This contract is subject to renewal: Yes

Description of renewals:

An extension of up to one (1) further year at the absolute discretion of MaPS.

II.2.9) Information about the limits on the number of candidates to be invited

II.2.10) Information about variants

Variants will be accepted: No

II.2.11) Information about options

Options: Yes

Description of options:

An extension of up to one (1) further year at the absolute discretion of MaPS.

II.2.13) Information about European Union funds

The procurement is related to a project and/or programme financed by European Union funds: No

II.2.14) Additional information

HOW TO BID

1. Interested organisations must be registered as a 'Supplier' on the MaPS eSourcing portal' Jaggaer' to participate.

If you have not already done so, please use the following link:

https://maps.app.jaggaer.com/web/login.html

2. Once registered on the Jaggaer portal the tender can be viewed via OPEN TENDERS by clicking on 'Published Opportunities'.

3. If you experience issues with any aspect of the portal, please contact the Helpdesk on 0800 069 8630.

4. Please note all further communications including the submission of your online bid must be via the Jaggaer portal.

Lot No: 2

II.2.1) Title

Investment Pathways Comparison Tool

II.2.2) Additional CPV code(s)

66520000

II.2.3) Place of performance

NUTS code:

UK

II.2.4) Description of the procurement

MaPS provide an Investment Pathways comparison tool, which since 1st February 2021 has been available for consumers to use on its MoneyHelper website. The contract for the existing tool ends 10th October 2023, and MaPS requires a new annuity comparison tool for consumers to access. The tool displays investment pathway solutions for four defined investment pathway objectives for each provider featured on the service. It also displays the first-year charge in monetary terms (illustrated in pounds and pence), comprised of the different charges and rates which each provider may apply. Only products available on the open market direct to consumers are displayed on the tool.

II.2.5) Award criteria

Price is not the only award criterion and all criteria are stated only in the procurement documents

II.2.6) Estimated value

Value excluding VAT: 1 155 220.66  GBP

II.2.7) Duration of the contract, framework agreement or dynamic purchasing system

Duration in months: 36

This contract is subject to renewal: Yes

Description of renewals:

An extension of up to one (1) further year at the absolute discretion of MaPS.

II.2.9) Information about the limits on the number of candidates to be invited

II.2.10) Information about variants

Variants will be accepted: No

II.2.11) Information about options

Options: Yes

Description of options:

An extension of up to one (1) further year at the absolute discretion of MaPS.

II.2.13) Information about European Union funds

The procurement is related to a project and/or programme financed by European Union funds: No

II.2.14) Additional information

HOW TO BID

1. Interested organisations must be registered as a 'Supplier' on the MaPS eSourcing portal' Jaggaer' to participate.

If you have not already done so, please use the following link:

https://maps.app.jaggaer.com/web/login.html

2. Once registered on the Jaggaer portal the tender can be viewed via OPEN TENDERS by clicking on 'Published Opportunities'.

3. If you experience issues with any aspect of the portal, please contact the Helpdesk on 0800 069 8630.

4. Please note all further communications including the submission of your online bid must be via the Jaggaer portal.

Section III: Legal, economic, financial and technical information

III.1) Conditions for participation

III.1.2) Economic and financial standing

Selection criteria as stated in the procurement documents


III.1.3) Technical and professional ability

Selection criteria as stated in the procurement documents


III.2) Conditions related to the contract

Section IV: Procedure

IV.1) Description

IV.1.1) Type of procedure

Open procedure

IV.1.8) Information about Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement: No

IV.2) Administrative information

IV.2.2) Time limit for receipt of tenders or requests to participate

Date: 30/05/2023

Local time: 12:00

IV.2.4) Languages in which tenders or requests to participate may be submitted

EN

IV.2.7) Conditions for opening of tenders

Date: 30/05/2023

Local time: 13:00

Section VI: Complementary information

VI.1) Information about recurrence

This is a recurrent procurement: No

VI.4) Procedures for review

VI.4.1) Review body

The High Court

The Strand

London

WC2A 2LL

UK

VI.5) Date of dispatch of this notice

28/04/2023

Coding

Commodity categories

ID Title Parent category
66520000 Pension services Insurance and pension services

Delivery locations

ID Description
100 UK - All

Alert region restrictions

The buyer has restricted the alert for this notice to suppliers based in the following regions.

ID Description
There are no alert restrictions for this notice.

About the buyer

Main contact:
Commercial@maps.org.uk
Admin contact:
N/a
Technical contact:
N/a
Other contact:
N/a

Further information

Date Details
No further information has been uploaded.

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