# TEN-2324-041 Retirement Solution Services

> Contract award record from UK public-sector procurement sources.

## Key facts

- Public buyer: [National Employment Savings Trust \(NEST\)](/buyers/national-employment-savings-trust-nest/contract-awards)
- Contract winner: Ignition House
- Award value: £99,000
- Tender value: £99,000
- Award date: 24 April 2024
- Published: 16 May 2024
- Contract start: 7 May 2024
- Contract end: 7 May 2025
- Stage: awarded
- Procurement category: services
- Notice ID: bed56229-5d82-40a1-8dc2-6a6ee0f5e030-751806
- OCID: ocds-b5fd17-40fbe27c-7393-43d2-83b6-d05a5649384a

## Description

Research project is being commissioned to provide insight into three broad areas: The introduction of flexible access drawdown\. This might be described as the 'do it myself' option, where individuals want complete control\. It would sit alongside the current self-managed options outlined on our website - taking all their pot in one lump sum, with the first 25% paid tax free, and taking ad hoc or regular withdrawals from their pot with 25% of every withdrawal being paid tax free \(what is known technically as an uncrystallised fund lump sum withdrawal\)\. The evolution of our lifelong income solution \(building on the current Nest Guided Retirement fund and introducing a deferred annuity element\)\. In contrast to flexible access drawdown this might be described as the 'do for me' option, where Nest takes the responsibility to delivering a sustainable lifelong income and the on-going decisions an individual must make are minimal\. The supporting communication, tools and guidance that aids member decision making\.

## Related contract awards

- [TEN-2526-023 External Audit services](/contracts/ocds-b5fd17-763c7081-49dd-471a-9dc8-8e69cedca364): National Employment Savings Trust \(NEST\)
- [Provision of External Data & AI Literacy Training](/contracts/ocds-b5fd17-30c1e569-497d-486f-b564-e3f468dc56d6): National Employment Savings Trust \(NEST\)
- [TEN-2526-048 \(PCR15\) - Modern Agile, Product Led Delivery \(MAPD\) Pilot](/contracts/ocds-b5fd17-76f85681-93ab-4ff5-97c2-606512f6839f): National Employment Savings Trust \(NEST\)
- [Retirement Outcomes Review: Qualitative](/contracts/ocds-b5fd17-49580071-adca-11e6-9901-0019b9f3037b): THE FINANCIAL CONDUCT AUTHORITY

## Source

[View the original notice on Contracts Finder](https://www.contractsfinder.service.gov.uk/Notice/bed56229-5d82-40a1-8dc2-6a6ee0f5e030-751806)