Provision of Nest Scheme Administration Services

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About this contract

The Authority is seeking to procure a fully outsourced service for the build, delivery and operation of administration services for the defined contribution pension scheme known as the National Employment Savings Trust. The administration services must support auto-enrolment and be delivered primarily via digital channels. The Authority anticipates that the contract will be for a minimum term of 10 years, with an optional extension period of up to 5 years, and the option of an additional period of up to 3 years for exit. The estimated contract value is indicative and covers this potential 18 year period. Due to the complex nature of the Authority's requirements, the Authority will be using the Competitive Dialogue process for this procurement. The Authority will use a Selection Questionnaire (SQ) for its initial downselect. Following assessment of SQ Submissions, up to a maximum of 6 Candidates will be invited to participate in dialogue. The Authority reserves the right in its absolute discretion to invite a lesser number of Candidates. Please see the SQ for further details. After the Dialogue phase, remaining Candidates will be invited to submit a Final Tender and the contract will be awarded to the most economically advantageous Final Tender. The Authority anticipates that contract award will take place approximately 3 years before the service goes live to allow for the solution build and a safe migration. All formal tender documents and submissions will be exchanged through the Authority's Bravo portal. To request access to the documentation being released at this stage, including the SQ, Candidates must register on the portal and then sign and return the Confidentiality Agreement via the Bravo messaging service. It is in each Candidate's interest to complete this activity as soon as possible. The Draft ITPD contains additional information on the procurement process as well as detailed requirements. Additional information: The Authority has developed a set of Critical Success Factors (CSFs) which are aligned with its strategic objectives. The CSFs underpin the procurement programme and will help the Authority to achieve its future vision and are as follows: - Managing our risks: the continued success of Nest must have trust at its core. Our customers need to trust that we can effectively look after their data and assets. It is vital that we can manage a smooth transition into our new scheme administration service and that once we are live, that service is robust and secure. - Enabling a commercially sustainable Nest: we are ultimately funded by our members. Our new service must be delivered in a commercially efficient way that seeks to align our commercial interests, supports the long-term financial forecasts for the scheme and enables opportunities to maintain and grow sustainable revenue streams. - Securing value for money: We need to scope our services to fit the needs of our customers and deliver value for money over the life of the services including exit. We must run a competitive and legally compliant procurement. - Improving customer outcomes: our vision is to help millions enjoy a better retirement. Our new scheme administration services must focus on how advances in technology and deep data analytics ensure a joined up approach to continuous improvement and excellence in customer service. This is so that we can help all of our customers to make the right choices and drive better outcomes. - Delivering services consistent with our values and capabilities: Nest is underpinned by the values of transparency, ease, empowerment and respect. We want our future services to develop in alignment with these and work with a partner that understands 'what makes Nest, Nest' and can provide expertise that complements the capabilities that already sit within our organisation.

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