Open

Junior ISA Re-procurement

Descriptions

Junior ISAs (JISA's) and Child Trust Funds (CTF's) are long term tax-advantaged saving accounts for children up to the age of 18. Children are eligible for a JISA if they are under 18, resident in the UK, and not eligible for a CTF. Anyone can pay money into the accounts, but the funds cannot then be accessed by the account holder until their 18th birthday (or are terminally ill). At 18, the account will mature into a standard (adult) ISA or the funds will be withdrawn. Children looked after for 12 months or more and not eligible for a Child Trust Fund (CTF) are entitled to a £200 payment from the government into a Junior ISA. The supplier will ensure eligible children receive the payments due to them under the JISA scheme: by acquiring the necessary data from LAs, opening JISAs for those children, making payments into these JISAs, and providing information about the JISAs opened and payments made to LAs, CiC and their carers. The supplier invoices the DfE on a two-weekly basis for the numbers of JISAs opened and submits invoices quarterly to the DfE to cover payments for administration of the scheme. The delivery partner's role will also involve: -Fund Management -Management Reporting and Data Requests -IT infrastructure -Delivery of financial education -Fundraising for additional donations In addition to the contract, a separate Grant Funding Agreement will be put in place between the Department for Education and the successful delivery partner. This will enable payments of £200 to be made into each new JISA that is opened. The delivery contract will run from April 2023 to March 2027 with two optional one-year extensions. A market engagement session will run on the Thursday 13th October at 2pm. Please contact vicki.gregg@education.gov.uk with the names and email addresses of the attendees you wish to attend. This event will be run through Microsoft Teams. A slide pack and Q&A from the event will be provided at tender stage. Bidders who are interested in this procurement must register with the DfE's Jaggaer system here: https://education.app.jaggaer.com/web/login.html

Timeline

Published Date :

6th Oct 2022 2 years ago

Deadline :

N/A

Contract Start :

1st Apr 2023

Contract End :

31st Mar 2027

Tender Regions

Keywords

banking services

investment advisory

capital markets

financial intermediation

asset placement

portfolio funding

financial brokerage

market investment services

investment facilitation

financial operations

social support services

community welfare

social outreach

case management

social integration

community care programs

support services delivery

social assistance

client advocacy

psychosocial support

Tender Lot Details

2 Tender Lots

Let’s Get you Started ✍

Get to see all tender details more briefly

Already have an account ?

Workflows

Status :

Open

Procedure :

N/A

Suitable for SME :

Yes

Nationwide :

No

Assign to :

Tender Progress :

0%

Details

Notice Type :

CONTRACT

Tender Identifier :

IT-378-246-T: 2024 - 001

Tenderbase ID :

310724019

Low Value :

£100K

High Value :

£1000K

Buyer Information

Address :

Liverpool Merseyside , Merseyside , L13 0BQ

Website :

N/A

Procurement contact

Name :

Tina Smith

Phone :

0151 252 3243

Email :

tina.smith@shared-ed.ac.uk

Possible Competitors

1 Possible Competitors