Tools to support provision of pension guidance including annuity and investment pathway comparison tools

Description

The Money and Pensions Service (MaPS) is seeking to undertake a procurement exercise for: • an annuity comparison tool; • an investment pathways comparison tool; • a suite of financial planning calculations to power our pension guidance • potential 4th lot for interface MaPS anticipate this being a single tender with the above requirements in three or four separate Lots. As part of its pensions guidance transformation strategy, the Money and Pension Service (MaPS) is looking to improve its digital pensions guidance offering by providing retirement planning journeys and tools that meet the needs of different groups of people. The annuity and investment pathways comparison tools along with the suite of financial planning calculations will help consumers to model their options at retirement and answer what do I need and what should I do now. They are therefore a key enabler in the development and provision of MaPS pension guidance. MaPS has a contract in place until October 2023 for both the Annuity and Investment Comparison Tools. It currently powers the other pension guidance tools it provides through financial planning calculation models developed and maintained internally. Going forwards our intention is for all tools to be developed and built on our consumer facing website, MoneyHelper. Our digital tools strategy is to develop and maintain the front-end user interfaces and functionality but are looking for suppliers to provide the necessary back-end calculation capability via API's to support the provision of those tools and journeys. We are engaging the market prior to the tender process, to further outline the tools strategy, the outcomes MaPS are looking to achieve and to obtain any feedback on the Specifications. Virtual Event: A virtual Early Market Engagement event will be held for this project on 25th October at 12pm, via Microsoft Teams. The purpose of this event is to alert the market to the potential procurement opportunity and to gain a better understanding of the capacity and appetite of the market to deliver against the proposed planned activities. Please register interest to obtain joining instructions by emailing commercial@maps.org.uk, with '22-114C MaPS Pension Guidance Comparison Tools' as the subject.