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BidSonar is an independent index of public-sector opportunities. We aggregate data from official sources and are not affiliated with any procurement body. Data is licensed under the Open Government Licence v3.0 and the EU TED reuse notice.

    ContractsRetirement Decumulation Consultancy Services
    Awarded contract

    Retirement Decumulation Consultancy Services

    Awarded
    £3.5m
    Published 25 Jun 2026

    Consultancy services to support the design and delivery of UK pension decumulation schemes, products, and longevity analysis for retirement planning.

    🇬🇧United Kingdom· EnglandPublished 25 Jun 2026· 4 months agoviaFind a Tender
    Awarded
    £3.5m
    Published 25 Jun 2026

    Decision brief

    4 fields
    • Contract value
      £3,450,000
      Pounds sterling
    • Closing date
      Not published
      No closing date published
    • Sector
      Financial Services
      Browse related listings
    • Location
      🇬🇧United Kingdom
      England

    Suppliers

    1 supplier
    • TW
      Towers Watson Limited
    Lead contractor

    Lifecycle

    Awarded

    Contract awarded. Originally published 4 months ago.

    25 June 2026
    Awarded — no open tender advertised

    Brief

    This framework procurement seeks consultancy expertise across two main areas: (1) Decumulation Scheme and Product Design - requiring deep knowledge of the UK defined contribution pension market, expertise in designing innovative decumulation pension schemes that pool longevity and other risks, and capability across the full product design lifecycle from user research through to implementation; and (2) Longevity Analysis and Modelling - requiring actuarial expertise in longevity trends particularly for auto-enrolled pension savers, ability to develop actuarial models for decumulation solutions with appropriate capital market assumptions, and experience designing governance frameworks to help Trustees sustainably manage income levels during retirement. Suppliers should demonstrate understanding of current UK pension policy, regulatory requirements, and industry developments in decumulation.

    Track record

    11 awards · 6 winners
    Open field

    No single supplier dominates the field.

    In financial services, NATIONAL EMPLOYMENT SAVINGS TRUST NEST has awarded 11 contracts to 6 suppliers.

    Who wins here
    1. ALPHA FINANCIAL MARKETS CONSULTING UK LIMITED5× · 45%
    2. WILLIS TOWERS WATSON2× · 18%
    3. LANE CLARK & PEACOCK LLP1× · 9%
    4. Towers Watson Limited1× · 9%
    5. Hymans Robertson1× · 9%
    6. THIRD CITY LIMITED1× · 9%

    Across financial services, the most active winners are ARTHUR J GALLAGHER INSURANCE BROKERS LTD, ALLPAY LTD, ECCLESIASTICAL INSURANCE OFFICE PUBLIC LIMITED COMPANY — the field to beat, or your route in as a partner.

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    Take action
    View on sourceFind a Tender

    Award notice and full record on the publisher's site

    Publisher
    UK Cabinet Office
    Licence
    OGL v3.0
    Source
    find-tender.service.gov.uk
    Record ID
    ocds-h6vhtk-06085f

    Your fit

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    Buyer
    NATIONAL EMPLOYMENT SAVINGS TRUST NEST
    Sector
    Financial Services