External Audit Services Tender – National Employment Savings Trust 

External Audit Services Tender – National Employment Savings Trust

To provide annual statutory audit provision for Nest Pension Scheme in accordance with Financial Reporting Standard 102.

United Kingdom-London: Statutory audit services

2020/S 245-609057

Contract notice

Services

Legal Basis:

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses

Official name: National Employment Savings Trust (NEST)
Postal address: 10 South Colonnade first floor
Town: London
NUTS code: UKI LONDON
Postal code: E14 4PU
Country: United Kingdom
E-mail: procurement@nestcorporation.org.uk
Internet address(es):
Main address: https://www.nestpensions.org.uk

I.3)Communication

Access to the procurement documents is restricted. Further information can be obtained at: https://www.nesttenders.bravosolution.co.uk
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be submitted electronically via: https://www.nesttenders.bravosolution.co.uk
Tenders or requests to participate must be submitted to the abovementioned address

I.4)Type of the contracting authority

Body governed by public law

I.5)Main activity

General public services

Section II: Object

II.1)Scope of the procurement

II.1.1)Title:

External Audit Services

 

Reference number: TEN 2021-020

II.1.2)Main CPV code

79212300 Statutory audit services

II.1.3)Type of contract

Services

II.1.4)Short description:

 

Provision of external audit services:

• to provide annual statutory audit provision for Nest Pension Scheme in accordance with Financial Reporting Standard 102 and the guidance set out in the Financial Reports of Pension Schemes: Statement of Recommended Practice (SORP) or any future updates/replacements;

• to audit the Trustee’s statement of contributions against Pension Act 1995 and the latest Schedule of Contributions;

• to provide annual statutory audit provision for Nest Invest Ltd with Financial Reporting Standard 102.

 

II.1.5)Estimated total value

Value excluding VAT: 400 000.00 GBP

II.1.6)Information about lots

This contract is divided into lots: no
II.2)Description

II.2.2)Additional CPV code(s)

79212100 Financial auditing services

II.2.3)Place of performance

NUTS code: UK UNITED KINGDOM

II.2.4)Description of the procurement:

 

Provision of external audit services

• to provide annual statutory audit provision for Nest Pension Scheme in accordance with Financial Reporting Standard 102 and the guidance set out in the Financial Reports of Pension Schemes: Statement of Recommended Practice (SORP) or any future updates/replacements;

• to audit the Trustee’s statement of contributions against Pension Act 1995 and the latest Schedule of Contributions;

• to provide annual statutory audit provision for Nest Invest Ltd with Financial Reporting Standard 102.

 

II.2.5)Award criteria

Price is not the only award criterion and all criteria are stated only in the procurement documents

II.2.6)Estimated value

Value excluding VAT: 400 000.00 GBP

II.2.7)Duration of the contract, framework agreement or dynamic purchasing system

Start: 01/08/2021
End: 31/07/2026
This contract is subject to renewal: no

II.2.10)Information about variants

Variants will be accepted: no

II.2.11)Information about options

Options: no

II.2.13)Information about European Union funds

The procurement is related to a project and/or programme financed by European Union funds: no

II.2.14)Additional information

In this procurement we are looking for suppliers who are experienced in auditing large pensions and/or large master trusts.

 

Section III: Legal, economic, financial and technical information

III.1)Conditions for participation

III.1.1)Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers

List and brief description of conditions:

 

— the winning supplier from a registered audit firm;

— individual who is responsible for the audit work and signing the audit reports is a responsible individual holding a practising certificate and audit qualification.

 

III.1.2)Economic and financial standing

Selection criteria as stated in the procurement documents

III.1.3)Technical and professional ability

Selection criteria as stated in the procurement documents
III.2)Conditions related to the contract

III.2.1)Information about a particular profession

Execution of the service is reserved to a particular profession
Reference to the relevant law, regulation or administrative provision:

 

— the winning supplier from a registered audit firm;

— individual who is responsible for the audit work and signing the audit reports is a responsible individual holding a practising certificate and audit qualification.

 

III.2.3)Information about staff responsible for the performance of the contract

Obligation to indicate the names and professional qualifications of the staff assigned to performing the contract

Section IV: Procedure

IV.1)Description

IV.1.1)Type of procedure

Open procedure
IV.1.3)Information about a framework agreement or a dynamic purchasing system

IV.1.8)Information about the Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement: no
IV.2)Administrative information

IV.2.2)Time limit for receipt of tenders or requests to participate

Date: 18/01/2021
Local time: 17:00
IV.2.3)Estimated date of dispatch of invitations to tender or to participate to selected candidates

IV.2.4)Languages in which tenders or requests to participate may be submitted:

English

IV.2.6)Minimum time frame during which the tenderer must maintain the tender

Tender must be valid until: 01/08/2021

IV.2.7)Conditions for opening of tenders

Date: 18/01/2021
Local time: 17:00
Place:

Via eProcurement Portal.

 

Section VI: Complementary information

VI.1)Information about recurrence

This is a recurrent procurement: yes
Estimated timing for further notices to be published:

January 2026.

 

VI.3)Additional information:
VI.4)Procedures for review

VI.4.1)Review body

Official name: Nest Corporation
Town: London
Country: United Kingdom

VI.5)Date of dispatch of this notice:

11/12/2020