Section one: Contracting authority
one.1) Name and addresses
Money and Pensions Service
Holborn Centre,120 Holborn
LONDON
EC1N2TD
Contact
Dahamia Stephenson
Telephone
+44 2081325276
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
one.4) Type of the contracting authority
Other type
Arm's Length Body sponsored by Department for Works 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.1.6) Information about lots
This contract is divided into lots: Yes
two.1.7) Total value of the procurement (excluding VAT)
Value excluding VAT: £1,620,916
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
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.
two.2.5) Award criteria
Quality criterion - Name: Technical / Weighting: 80
Price - Weighting: 20
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) 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
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
two.2.5) Award criteria
Quality criterion - Name: Technical / Weighting: 80
Price - Weighting: 20
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.
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.2.1) Previous publication concerning this procedure
Notice number: 2023/S 000-012408
four.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 five. Award of contract
Lot No
1
Title
Annuities Comparison Tool
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
25 July 2023
five.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
five.2.3) Name and address of the contractor
Defaqto Limited
2 Haddenham Business Park
Buckinghamshire
HP17 8LJ
Country
United Kingdom
NUTS code
- UKJ - South East (England)
Companies House
02870220
Internet address
The contractor is an SME
Yes
five.2.4) Information on value of contract/lot (excluding VAT)
Initial estimated total value of the contract/lot: £461,259.43
Total value of the contract/lot: £569,700
Section five. Award of contract
Lot No
2
Title
Investment Pathway Comparison Tool
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
25 July 2023
five.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
five.2.3) Name and address of the contractor
Defaqto Limited
12 Haddenham Business Park
Buckinghamshire
HP17 8LJ
Country
United Kingdom
NUTS code
- UKJ - South East (England)
Companies House
02870220
Internet address
The contractor is an SME
Yes
five.2.4) Information on value of contract/lot (excluding VAT)
Initial estimated total value of the contract/lot: £1,155,220.66
Total value of the contract/lot: £1,051,216
Section six. Complementary information
six.4) Procedures for review
six.4.1) Review body
The High Court
The Strand
London
WC2A 2LL
Country
United Kingdom
six.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)."