Official UK procurement notice
Pension Comparison Tools · UK public procurement notice
Authority: MONEY AND PENSIONS SERVICE (Central government)·Consortium: 2 public authorities
What is being bought2 lots · detail below
Published requirement descriptionThe provision of services in respect of two digital pension guidance tools, to help consumers to compare their options and make the most of their retirement income when accessing their pension pots:
- Annuities comparison tool
- Investment Pathways comparison tool
CPV: Pension services
Lots and requirements (2)Procurement structure
2 lots · all with a published value (£1,616,480 together) · same evaluation weights on every lotLot #1Annuities Comparison ToolAwardedRenewalPublished value£461,259
The Annuity comparison tool will allow users to compare the income they might get from a lifetime or fixed-term annuity from the whole of the open market. Users can select from all the annuity options available and input detailed medical information. Annuity providers are required by the Financial Conduct Authority (FCA) to signpost to the tool within the quotes they issue to consumers so that they can check if they could get a better deal by shopping around.
Consumers can use the tool to obtain quotes for a lifetime annuity or a fixed term annuity. It is not a transactional tool i.e., an annuity cannot be directly purchased through it.
Lot #2Investment Pathways Comparison ToolAwardedRenewalPublished value£1,155,221
The Investment Pathways comparison tool will display investment pathway solutions for four defined investment pathway objectives for each provider featured on the service. It will also display the
first-year charge in monetary terms (illustrated in pounds and pence), comprised of the different charges and rates which each provider may apply. Only products available on the
open market direct to consumers are displayed on the tool
What it takes to wini
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Evaluation split and conditions of participation as published; the tender pack may add morei
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Published sub-criteria (2)
- Technical: 80%
- price: 20%
Published award criteria (2)
- Technical: 80
- Price: 20
- Price carries 20 of 100 points: a 10% discount moves about 2 points. The method statement decides this lot, not the discount.
Price arithmetic assumes straight proportional scoring; the tender pack may use another formula.
Procedure terms & legal framework
From the official record- Procedure method
- Open procedure
- Legal basis
- CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
- Procurement category
- Services
- Notice status
- Awarded
- Procurement threshold
- Unspecified in notice
- Regulatory regime
- Standard
- Commercial structure
- Stand-alone contract (no framework)
- Competition type
- Competitive procedure
- GPA / WTO covered
- Unspecified in notice
- Recurring procurement
- No (one-off requirement)
- First published
- 28 Apr 2023, 18:24 BST
- Last source update
- 7 Aug 2023, 13:18 BST
- Award evaluation window
- 30 May 2023 – …
- Authority reference
22-147C- FTS notice number
2023/S 000-022920- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-03c560Find a Tender
- Review procedure
The contracting authority operated a minimum 10 calendar day
standstill period at the point information on the award of the contract was communicated to tenderers to provide time for unsuccessful tenderers to challenge the award decision before the contract is entered into.
Unsuccessful tenderers were notified by the contracting authority as soon as possible after the decision is made as to the reasons why they were unsuccessful. The Public Contracts Regulations 2015 provide that aggrieved parties who have been harmed, or are at risk of harm, by breach of the rules are to take action in the High Court (England, Wales and Northern Ireland)."
How it was run
Official notice- Submission deadline
- 30 May 2023, 12:00 BST
- Submission channel
- {"electronicSubmission"}
- Accepted languages
- en
- Bids opened
- 30 May 2023, 13:00 BST
Timeline
30 May 2023 → 7 Aug 2023 · 3 dates- Submission deadline30 May 2023, 12:00 BST
- Bids opened30 May 2023, 13:00 BST
- Notice published7 Aug 2023, 13:18 BST
Notice history
2 events · 2 releases on Find a Tender · since 7 Aug 2023- Status changed to complete7 Aug 2023, 13:18 BST
- Buyer details updated7 Aug 2023, 13:18 BST
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecast| Awarded to | Value | Date | Status |
|---|---|---|---|
| Lot 1 · Annuities Comparison Tool1 award | |||
| Defaqto Limited | £569,700 † | — | Awarded |
| Lot 2 · Investment Pathways Comparison Tool1 award | |||
| Defaqto LimitedInvestment Pathway Comparison Tool | £1,051,216 † | — | Awarded |
Contracts
Annuities Comparison Tool · Defaqto Limited
- Signed
- 25 Jul 2023
- Value
- £569,700
- Status
- active
Investment Pathway Comparison Tool · Defaqto Limited
- Signed
- 25 Jul 2023
- Value
- £1,051,216
- Status
- active
Bid statistics published by the authority
| Lot | Bids | SME | VCSE | Valid bid range |
|---|---|---|---|---|
| 1 · Annuities Comparison Tool | 2bids · 2 electronic | 2 | — | — |
| 2 · Investment Pathways Comparison Tool | 1bids · 1 electronic | 1 | — | — |
Contracting authority & participating public bodies
2 public bodies on the noticeDispute resolution & review bodies
- The High CourtReview body
Bidders & participating suppliers
1 commercial party on the notice- Defaqto LimitedAwarded supplier
Official documents & specifications (2)
Official links; attachments are not copiedTender pack and attachments
- Economic and financial selection criteria
- Technical selection criteria