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Contract Award Notice

Pension Comparison Tools

  • First published: 08 August 2023
  • Last modified: 08 August 2023
  • Record interest

     

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The buyer is not using this website to administer the notice.

To record your interest or obtain additional information or documents please find instructions within the Full Notice Text. (NOTE: Contract Award Notices and Prior Information Notices do not normally require a response)

Contents

Summary

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

Abstract

The Annuity comparison tool will allow 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 award notice

Results of the procurement procedure

Section I: Contracting entity

I.1) Name and addresses

Money and Pensions Service

Holborn Centre,120 Holborn

LONDON

EC1N2TD

UK

Contact person: Dahamia Stephenson

Telephone: +44 2081325276

E-mail: Commercial@maps.org.uk

NUTS: UKI31

Internet address(es)

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

I.4) Type of the contracting authority

Other: Arm's Length Body sponsored by Department for Works 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.1.6) Information about lots

This contract is divided into lots: Yes

II.1.7) Total value of the procurement

Value excluding VAT: 1 620 916.00  GBP

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

The Annuity comparison tool will allow 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

Quality criterion: Technical / Weighting: 80

Price / Weighting:  20

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

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

The Investment Pathways comparison tool will display investment pathway solutions for four defined investment pathway objectives for each provider featured on the service. It will also display 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

Quality criterion: Technical / Weighting: 80

Price / Weighting:  20

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

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.2.1) Previous publication concerning this procedure

Notice number in the OJ S:

2023/S 000-012408

IV.2.9) Information about termination of call for competition in the form of a prior information notice

The contracting authority will not award any further contracts based on the above prior information notice

Section V: Award of contract

Lot No: 1

Title: Annuities Comparison Tool

A contract/lot is awarded: Yes

V.2 Award of contract

V.2.1) Date of conclusion of the contract

25/07/2023

V.2.2) Information about tenders

Number of tenders received: 2

Number of tenders received from SMEs: 2

Number of tenders received by electronic means: 2

The contract has been awarded to a group of economic operators: No

V.2.3) Name and address of the contractor

Defaqto Limited

02870220

2 Haddenham Business Park

Buckinghamshire

HP17 8LJ

UK

E-mail: support@defaqto.com

NUTS: UKJ

Internet address(es)

URL: https://www.defaqto.com/

The contractor is an SME: Yes

V.2.4) Information on value of the contract/lot (excluding VAT)

Initial estimated total value of the contract/lot:

Total value of the contract/lot: : 569 700.00  GBP

V.2.5) Information about subcontracting

Section V: Award of contract

Lot No: 2

Title: Investment Pathway Comparison Tool

A contract/lot is awarded: Yes

V.2 Award of contract

V.2.1) Date of conclusion of the contract

25/07/2023

V.2.2) Information about tenders

Number of tenders received: 1

Number of tenders received from SMEs: 1

Number of tenders received by electronic means: 1

The contract has been awarded to a group of economic operators: No

V.2.3) Name and address of the contractor

Defaqto Limited

02870220

12 Haddenham Business Park

Buckinghamshire

HP17 8LJ

UK

E-mail: support@defaqto.com

NUTS: UKJ

Internet address(es)

URL: https://www.defaqto.com/

The contractor is an SME: Yes

V.2.4) Information on value of the contract/lot (excluding VAT)

Initial estimated total value of the contract/lot:

Total value of the contract/lot: : 1 051 216.00  GBP

V.2.5) Information about subcontracting

Section VI: Complementary information

VI.4) Procedures for review

VI.4.1) Review body

The High Court

The Strand

London

WC2A 2LL

UK

VI.4.3) Review procedure

Precise information on deadline(s) for review procedures:

The contracting authority operated a minimum 10 calendar day

standstill period at the point information on the award of the contract was communicated to tenderers to provide time for unsuccessful tenderers to challenge the award decision before the contract is entered into.

Unsuccessful tenderers were notified by the contracting authority as soon as possible after the decision is made as to the reasons why they were unsuccessful. The Public Contracts Regulations 2015 provide that aggrieved parties who have been harmed, or are at risk of harm, by breach of the rules are to take action in the High Court (England, Wales and Northern Ireland)."

VI.5) Date of dispatch of this notice

07/08/2023

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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