Section one: Contracting authority
one.1) Name and addresses
National Employment Savings Trust (NEST)
10 South Colonnade 1st floor
London
E14 4PU
Contact
1
procurement@nestcorporation.org.uk
Country
United Kingdom
Region code
UK - United Kingdom
Internet address(es)
Main address
one.4) Type of the contracting authority
Body governed by public law
one.5) Main activity
Economic and financial affairs
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Provision of Banking Services
two.1.2) Main CPV code
- 66110000 - Banking services
two.1.3) Type of contract
Services
two.1.4) Short description
This contract is awarded for Nest Scheme, which is used for managing members contributions into the scheme, providing valuations of member’s pension pots within the scheme, and paying member’s benefits out of the scheme (including the transfer of funds into and out of member’s other pension pots)
two.1.6) Information about lots
This contract is divided into lots: No
two.1.7) Total value of the procurement (excluding VAT)
Value excluding VAT: £2,000,000
two.2) Description
two.2.3) Place of performance
NUTS codes
- UK - United Kingdom
two.2.4) Description of the procurement
This contract is awarded for Nest Scheme, which is used for managing members contributions into the scheme, providing valuations of member’s pension pots within the scheme, and paying member’s benefits out of the scheme (including the transfer of funds into and out of member’s other pension pots)
two.2.5) Award criteria
Quality criterion - Name: Quality & Technical / Weighting: 80%
Cost criterion - Name: Cost / Weighting: 20%
two.2.11) Information about options
Options: No
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
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: Yes
four.2) Administrative information
four.2.1) Previous publication concerning this procedure
Notice number: 2024/S 000-005280
Section five. Award of contract
Contract No
TEN-2324-015
Title
Provision of Nest Scheme Banking Services
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
9 October 2024
five.2.2) Information about tenders
Number of tenders received: 3
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor
National Westminster Bank Plc
London
Country
United Kingdom
NUTS code
- UK - United Kingdom
The contractor is an SME
No
five.2.4) Information on value of contract/lot (excluding VAT)
Total value of the contract/lot: £2,000,000
Section six. Complementary information
six.4) Procedures for review
six.4.1) Review body
High Court
London
Country
United Kingdom