Section one: Contracting authority/entity
one.1) Name and addresses
Money and Pensions Service
Holborn Centre,120 Holborn
LONDON
EC1N2TD
Country
United Kingdom
Region code
UKI31 - Camden and City of London
Justification for not providing organisation identifier
Not on any register
Internet address(es)
Main address
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Guaranteed Income and Income Drawdown Tools
two.1.2) Main CPV code
- 72000000 - IT services: consulting, software development, Internet and support
two.1.3) Type of contract
Services
two.2) Description
two.2.2) Additional CPV code(s)
- 72311100 - Data conversion services
- 72314000 - Data collection and collation services
two.2.3) Place of performance
NUTS codes
- UK - United Kingdom
two.2.4) Description of the procurement at the time of conclusion of the contract:
The Money Advice Service was looking for one service provider to reproduce and enhance 2 of its existing online tools:
- the guaranteed income products (annuities),
- comparison table, and
- the income drawdown comparison tool.
This service must include the data provision.
two.2.7) Duration of the contract, framework agreement, dynamic purchasing system or concession
Duration in months
48
Section four. Procedure
four.2) Administrative information
four.2.1) Contract award notice concerning this contract
Notice number: 2018/S 206-470907
Section five. Award of contract/concession
Contract No
RMP 18-05
Title
Guaranteed Income and Income Drawdown Tools
five.2) Award of contract/concession
five.2.1) Date of conclusion of the contract/concession award decision:
11 October 2018
five.2.2) Information about tenders
The contract/concession has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor/concessionaire
Defaqto Ltd
Aylesbury
Country
United Kingdom
NUTS code
- UKJ1 - Berkshire, Buckinghamshire and Oxfordshire
Companies House
02870220
The contractor/concessionaire is an SME
Yes
five.2.4) Information on value of the contract/lot/concession (at the time of conclusion of the contract;excluding VAT)
Total value of the procurement: £780,000
Section six. Complementary information
six.4) Procedures for review
six.4.1) Review body
The Money Advice Service
London
Country
United Kingdom
Section seven: Modifications to the contract/concession
seven.1) Description of the procurement after the modifications
seven.1.1) Main CPV code
- 72000000 - IT services: consulting, software development, Internet and support
seven.1.2) Additional CPV code(s)
- 72311100 - Data conversion services
- 72314000 - Data collection and collation services
seven.1.3) Place of performance
NUTS code
- UKI - London
seven.1.4) Description of the procurement:
The Money and Pensions Service requires the continued service provision of its existing online tools:
- the Annuities tool (previously named Guaranteed Income Products)
- comparison table, and
- the Investment Pathways tool (previously named income drawdown comparison tool)
This service must include the data provision.
seven.1.5) Duration of the contract, framework agreement, dynamic purchasing system or concession
Start date
11 October 2022
End date
10 October 2023
seven.1.6) Information on value of the contract/lot/concession (excluding VAT)
Total value of the contract/lot/concession:
£1,580,980.64
seven.1.7) Name and address of the contractor/concessionaire
Defaqto Ltd
Aylesbury
Country
United Kingdom
NUTS code
- UKJ1 - Berkshire, Buckinghamshire and Oxfordshire
Companies House
02870220
The contractor/concessionaire is an SME
Yes
seven.2) Information about modifications
seven.2.1) Description of the modifications
Nature and extent of the modifications (with indication of possible earlier changes to the contract):
Modification of the contract:
- In time until 10/10/2023 (12 months)
- Clause 2, Term of Agreement, revised to include an annual review requiring no less than 3 months termination notice.
- Schedule 2, Service Fees, updated to include costs for extension period (£297,040.64 ex. VAT)
Contract previously varied in 2020 to add Investment Pathways comparison into the drawdown tool, at a total additional cost of £505,190.00.
seven.2.2) Reasons for modification
Need for additional works, services or supplies by the original contractor/concessionaire.
Description of the economic or technical reasons and the inconvenience or duplication of cost preventing a change of contractor:
MaPS is committed to regularly reviewing and improving these tools to ensure they continue to meet the needs of the consumers that rely on them.
The contract modification to extend for a twelve month period is required to allow for a fair competition in the re-procurement, including managing incumbency advantage.
The existing provider holds the Intellectual property for the tools, and as such, there is no ease of interchangeability with another provider. During initial market engagement earlier in 2022, the market was engaged with regard to options. From this, it was determined that we would need to completely re-build the tools.
Therefore it became apparent that the time required to procure and develop and test the new tools would be significantly longer than the time available.
Allowing the contract to expire would create issues with regard to Financial Conduct Authority (FCA) requirements, as the FCA conduct of business rules require providers to signpost to MaPs tools.
To ensure we have continuous coverage for consumers we are therefore extending the current contract for a twelve-month period, to provide sufficient time for a fair competition in the re-procurement and to re-build the tools prior to the end of the contract extension.
seven.2.3) Increase in price
Updated total contract value before the modifications (taking into account possible earlier contract modifications, price adaptions and average inflation)
Value excluding VAT: £1,283,940
Total contract value after the modifications
Value excluding VAT: £1,580,980.64