retirement consultancy services
Awarded
Key facts
- Closing date
- Not stated by the buyer
- Buyer's estimated value
- Not stated The buyer's own estimate, not income to you.
- Procedure
- Below threshold - award under framework
- Notice type
- Contract details notice (UK7)
Decision brief
Taken from the buyer's published notice (shown as written, shortened where long). Tenderpatch has not added to or interpreted it. Always read the official documents before bidding.
- How bids will be scored
- Not stated in the notice.
- Conditions of participation (what you must show)
- None published in the notice. They may be in the tender documents.
- Contract length and extensions
- Period not stated.
- How to submit
- Not stated in the notice.
- Tender documents
- No document links in the notice. Use the official notice link.
New to public tenders? Plain-English guide to this page
- Framework
- An agreement that sets terms for work the buyer may order later, often from several suppliers. The value shown usually covers the whole agreement, not one job.
- Open for bids / closing date
- You must submit by the closing date and time, normally through the buyer's own online portal. Late bids are normally refused.
- Clarification questions
- A deadline for asking the buyer questions about the tender. It is earlier than the closing date.
- Conditions of participation
- What the buyer asks suppliers to show before they can be considered, such as experience, insurance or accreditations.
- Bids are scored on
- How the buyer will compare bids, usually a split between price and quality. A 60/40 split in favour of quality means the cheapest bid will not necessarily win.
- Lots
- A tender can be split into parts. You can often bid for only the lots that suit you.
- Area (ITL)
- The buyer names an official statistical area for where the work is, not a street address. Check the tender documents for the actual sites.
- UK4 and other notice codes
- Official codes for the type of notice. A "tender notice" means bids are being invited.
General explanations written by Tenderpatch, not part of this notice.
Description
The Supplier will provide the services outlined below:
• Review of key judgement decisions made by Rothesay in their approach to setting longevity assumptions for pricing, including:
o Weight applied to Nest mortality experience data when setting pricing basis.
o Approach to mortality experience adjustments across ages.
o Approach to treating untraced members in mortality experience data when performing analysis.
• Review of LexisNexis tracing results and consideration of alternative approaches to treating untraced members.
• Review of mortality experience data and consideration of alternative approaches to applying mortality experience adjustments.
• Analysis of Rothesay's approach of using Mosaic and advice on the suitability of Mosaic to rank and categorise members into different affluence groups.
• Analysis of Rothesay's pricing compared to pricing observed in the wider bulk annuity market.
• Providing an independent view on the value for money of Rothesay's pricing terms, as applied to the unique LLPI solution.
• Assisting in work undertaken to improve Nest data quality.