Following publication of the contract notice in the Official Journal of the European Union in January 2009, the Personal Accounts Delivery Authority (PADA) received 56 expressions of interest.
Following receipt of pre-qualification questionnaires, four organisations were invited to participate in competitive dialogue. As the competitive dialogue progressed, three of these bidders decided to withdraw. This left Tata Consultancy Services Ltd., which had progressively demonstrated during the competition that it was a strong bidder. This was confirmed by its final bid, which after a rigorous evaluation was found to fully meet PADA’s delivery requirements at a good price for NEST’s future members.
Any payments due under the contract will be met by PADA, until the organisation is wound up on 5 July 2010. Payments will then be made by the National Employment Savings Trust (NEST). NEST will be self-financing in the long-term. This means that ultimately, all of the costs of establishing and operating NEST, including all payments due under this contract, will be met by NEST’s members.