Opportunity

Pension Comparison Tools

  • Money and Pensions Service

F02: Contract notice

Notice reference: 2023/S 000-012408

Published 28 April 2023, 6:24pm



Section one: Contracting authority

one.1) Name and addresses

Money and Pensions Service

120 Holborn

LONDON

EC1N2TD

Contact

Laura Bradshaw

Email

Commercial@maps.org.uk

Country

United Kingdom

NUTS code

UKI31 - Camden and City of London

Justification for not providing organisation identifier

Not on any register

Internet address(es)

Main address

https://maps.org.uk/

one.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 above-mentioned address

Tenders or requests to participate must be submitted electronically via

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

one.4) Type of the contracting authority

Other type

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

one.5) Main activity

Economic and financial affairs


Section two: Object

two.1) Scope of the procurement

two.1.1) Title

Pension Comparison Tools

Reference number

22-147C

two.1.2) Main CPV code

  • 66520000 - Pension services

two.1.3) Type of contract

Services

two.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

two.1.5) Estimated total value

Value excluding VAT: £1,616,480.09

two.1.6) Information about lots

This contract is divided into lots: Yes

Tenders may be submitted for all lots

two.2) Description

two.2.1) Title

Annuities Comparison Tool

Lot No

1

two.2.2) Additional CPV code(s)

  • 66520000 - Pension services

two.2.3) Place of performance

NUTS codes
  • UK - United Kingdom

two.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.

two.2.5) Award criteria

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

two.2.6) Estimated value

Value excluding VAT: £461,259.43

two.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.

two.2.10) Information about variants

Variants will be accepted: No

two.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.

two.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.

two.2) Description

two.2.1) Title

Investment Pathways Comparison Tool

Lot No

2

two.2.2) Additional CPV code(s)

  • 66520000 - Pension services

two.2.3) Place of performance

NUTS codes
  • UK - United Kingdom

two.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.

two.2.5) Award criteria

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

two.2.6) Estimated value

Value excluding VAT: £1,155,220.66

two.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.

two.2.10) Information about variants

Variants will be accepted: No

two.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.

two.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 three. Legal, economic, financial and technical information

three.1) Conditions for participation

three.1.2) Economic and financial standing

Selection criteria as stated in the procurement documents

three.1.3) Technical and professional ability

Selection criteria as stated in the procurement documents


Section four. Procedure

four.1) Description

four.1.1) Type of procedure

Open procedure

four.1.8) Information about the Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement: No

four.2) Administrative information

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

Date

30 May 2023

Local time

12:00pm

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

English

four.2.7) Conditions for opening of tenders

Date

30 May 2023

Local time

1:00pm


Section six. Complementary information

six.1) Information about recurrence

This is a recurrent procurement: No

six.4) Procedures for review

six.4.1) Review body

The High Court

The Strand

London

WC2A 2LL

Country

United Kingdom