Scope
Reference
CON-2526-002 Fund Admin Transition and Transformation Programme
Description
Nest will be transitioning over £50bn of assets from one custodian to another and working with a brand new fund accountant and administrator. This contract will provide expert support and experience based on deep experience of transitioning assets, and a deep understanding of Nest needs, and the new provider's capabilities.
Contract 1. CON-2526-002 Fund Admin Transition and Transformation Programme
Supplier
Contract value
- £635,000 excluding VAT
- £762,000 including VAT
Above the relevant threshold
Date signed
30 May 2025
Contract dates
- 30 May 2025 to 29 May 2027
- Possible extension to 29 May 2029
- 4 years
Description of possible extension:
2 x 12 month extensions is budget is still available.
Main procurement category
Services
CPV classifications
- 66523100 - Pension fund administration services
Contract locations
- UK - United Kingdom
Justification for not setting key performance indicators
None required
Other information
Applicable trade agreements
- Government Procurement Agreement (GPA)
Conflicts assessment prepared/revised
Yes
Procedure
Procedure type
Direct award
Direct award justification
Additional or repeat goods, services or works - extension or partial replacement
Nest will be transitioning over £50bn of assets from one custodian to another and working with a brand new fund accountant and administrator.
This contract will provide expert support and experience based on deep experience of transitioning assets, and a deep understanding of Nest needs, and the new provider's capabilities.
Supplier
ALPHA FINANCIAL MARKETS CONSULTING UK LIMITED
- Companies House: 04710715
- Public Procurement Organisation Number: PRNG-1778-PVXJ
60 Gresham Street
London
EC2V 7BB
United Kingdom
Email: joseph.sproul@alphafmc.com
Website: http://www.alphafmc.com
Region: UKI31 - Camden and City of London
Small or medium-sized enterprise (SME): No
Voluntary, community or social enterprise (VCSE): No
Supported employment provider: No
Public service mutual: No
Contract 1. CON-2526-002 Fund Admin Transition and Transformation Programme
Contracting authority
National Employment Savings Trust (NEST) Corporation
- Public Procurement Organisation Number: PQGC-5667-VDDT
10 South Colonnade, Canary Wharf,
London
E14 4PU
United Kingdom
Region: UKI42 - Tower Hamlets
Organisation type: Public authority - central government