- Lot 1. LOT 1 Strategic investment business, organisational strategy and governance advice
- Lot 2. LOT 2 Target Operating Model design and delivery including the transition and implementation of operating models for fund administration and custody service including additional SME operational support as needed
- Lot 3. Specialist investment consultancy services to large Financial Conduct Authority (FCA) regulated occupational pension schemes (OPS
Scope
Reference
ten-2526-011
Description
Nest is on a path to becoming one of the largest pensions schemes in the UK and our growth trajectory means that the operating model for Nest Invest will need to evolve over the next ten years.
In order to support the continued strategic growth and development of the investment function Nest Invest will require ongoing specialist consultancy support for the development of the organisational model and development of the investment approach
Commercial tool
Establishes a framework
Total value (estimated)
- £10,000,000 excluding VAT
- £12,000,000 including VAT
Above the relevant threshold
Contract dates (estimated)
- 4 September 2025 to 3 September 2029
- 4 years
Options
The right to additional purchases while the contract is valid.
no options
Main procurement category
Services
CPV classifications
- 79412000 - Financial management consultancy services
Contract locations
- UKI - London
Lot constraints
Maximum number of lots a supplier can bid for: 1
Maximum number of lots a supplier can be awarded: 1
Lot 1. LOT 1 Strategic investment business, organisational strategy and governance advice
Description
Strategic investment business, organisational strategy and governance advice with extensive proven experience of international investment best practice with large Financial Conduct Authority (FCA) regulated Occupational Pension Schemes (OPS) with assets under management of £25 billion and above
Lot value (estimated)
- £3,500,000 excluding VAT
- £4,200,000 including VAT
Framework lot values may be shared with other lots
Same for all lots
CPV classifications, contract locations, contract dates and options are shown in the Scope section, because they are the same for all lots.
Lot 2. LOT 2 Target Operating Model design and delivery including the transition and implementation of operating models for fund administration and custody service including additional SME operational support as needed
Description
Target Operating Model design and delivery including the transition and implementation of operating models for fund administration and custody service including additional SME operational support as needed to large Financial Conduct Authority (FCA) regulated Occupational Pension Schemes (OPS) (or similar) with assets under management of £25 billion and above. 35
Lot value (estimated)
- £3,500,000 excluding VAT
- £4,200,000 including VAT
Framework lot values may be shared with other lots
Same for all lots
CPV classifications, contract locations, contract dates and options are shown in the Scope section, because they are the same for all lots.
Lot 3. Specialist investment consultancy services to large Financial Conduct Authority (FCA) regulated occupational pension schemes (OPS
Description
Specialist investment consultancy services to large Financial Conduct Authority (FCA) regulated occupational pension schemes (OPS) with assets under management of £25 billion and above
Lot value (estimated)
- £3,000,000 excluding VAT
- £3,600,000 including VAT
Framework lot values may be shared with other lots
Same for all lots
CPV classifications, contract locations, contract dates and options are shown in the Scope section, because they are the same for all lots.
Framework
Maximum number of suppliers
8
Maximum percentage fee charged to suppliers
0%
Framework operation description
rate card
Award method when using the framework
Either with or without competition
Contracting authorities that may use the framework
Establishing party only
Participation
Particular suitability
Lot 1. LOT 1 Strategic investment business, organisational strategy and governance advice
Lot 2. LOT 2 Target Operating Model design and delivery including the transition and implementation of operating models for fund administration and custody service including additional SME operational support as needed
Lot 3. Specialist investment consultancy services to large Financial Conduct Authority (FCA) regulated occupational pension schemes (OPS
Small and medium-sized enterprises (SME)
Submission
Enquiry deadline
11 July 2025, 12:00pm
Tender submission deadline
28 July 2025, 12:00pm
Submission address and any special instructions
tenders must be submitted via the Nest e tendering site https://nesttenders.bravosolution.co.uk. if you are not already registered on the site you will need to register first ,
Tenders may be submitted electronically
Yes
Languages that may be used for submission
English
Award decision date (estimated)
4 September 2025
Award criteria
| Name | Type |
|---|---|
| Price | Price |
| quality | Quality |
Weighting description
85 % for Quality and 15% Price
Other information
Description of risks to contract performance
Nest Invest is continuing to grow and its need for consultancy services in this area are unknown, there is a possibility that the consultancy requirements could exceed current levels estimated.
Conflicts assessment prepared/revised
Yes
Procedure
Procedure type
Open procedure
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