Pensions Valuation Software

Government Actuary's Department

Published: Aug 17, 2026

Updated: Aug 17, 2026

Source: uk_fts

About This Opportunity

This is a supplies contract in the finance and banking and information and communication technology sectors, with a focus on Software and Pensions. Located in United Kingdom, Europe, this opportunity is open to firms and consortiums, with an estimated budget of GBP 1.4 million.

Published through UK FTS - Find a Tender Service, a national government procurement portal. Public procurement tenders follow the country's national bidding regulations and may have specific eligibility and documentation requirements for the supply of goods in the finance and banking sector. Supply contracts typically require bidders to demonstrate product compliance with technical specifications, delivery capacity, and relevant certifications. This is an advance notice — the formal tender is expected to be published shortly. Interested parties can use this time to prepare documentation and identify potential partners.

Description

The Government Actuary's Department (GAD) is a non-ministerial department and Arm's Length Body of His Majesty's Treasury. GAD provides actuarial solutions, including financial risk analysis, modelling and advice, to support the UK public sector. GAD works with a wide range of government departments, public bodies and other organisations, providing impartial actuarial expertise to assist effective decision-making and management of financial risk. GAD is undertaking preliminary market engagement in relation to an actuarial valuation software solution. GAD currently utilises a third-party software platform to support the delivery of actuarial valuation, modelling and pension scheme analysis services across a range of public sector clients. The existing contract runs to February 2028, and GAD is commencing early market engagement to better understand available solutions, market capability, implementation approaches and emerging innovations. The Authority is interested in engaging with suppliers that can provide an off-the-shelf software solution and associated services capable of supporting actuarial valuation and modelling activities, including (but not limited to): • Pension scheme valuation calculations and analysis, covering: Active, Deferred and Pensioner members, Open to future accrual, Final Salary & Career Average Revalued Earnings • Cashflow and funding modelling • Asset Liability Modelling • Scenario testing and sensitivity analysis • Data import, validation and management • Reporting and audit trail functionality • Appropriate security, resilience and support arrangements • Transition, implementation and user training services. • Data migration and exit capability from incumbent systems. The purpose of this engagement is to: • Understand the current supplier landscape. • Inform the development of requirements and the procurement strategy. • Identify opportunities for innovation and improved functionality. • Better understand implementation, migration and transition considerations. • Assess approach to future valuation systems including available commercial models and contracting approaches. Participation in this engagement will not confer any advantage or disadvantage in any future procurement process.

Data provenance

This notice is sourced from UK FTS - Find a Tender Service and was originally published on August 17, 2026. Last refreshed today. Reference: 078186-2026. BidsFactory mirrors official procurement notices and links back to the source for full legal text.

About Government Actuary's Department

Government Actuary's Department has issued 15 procurement notices on BidsFactory, including 2 currently open and 13 awarded contracts. Activity concentrates in Governance & Public Administration, Information & Communication Technology, and Health & Medical. All notices are published for United Kingdom. Notices are distributed via UK FTS - Find a Tender Service and UK Contracts Finder. Most recent publication: August 17, 2026.

Frequently asked questions about this tender

What is the estimated budget?

The estimated contract value is £1,400,000 - £1,400,000. Bidders should ensure their proposals are consistent with this range and account for any local taxes and contract execution costs.

Where will the contract be performed?

The contract is for delivery in United Kingdom. Foreign bidders should review local registration, taxation, and any in-country presence requirements before submitting.

How can I submit a bid?

Visit UK FTS - Find a Tender Service to access the full notice, required documents, and submission instructions. Quote reference 078186-2026 when communicating with the contracting authority.

Who is the contracting authority?

This notice was issued by Government Actuary's Department in United Kingdom. The authority is responsible for evaluating bids, awarding the contract, and managing performance.

What type of contract is this?

This is a Supplies contract in the Finance & Banking sector. The classification helps bidders match the opportunity to their qualifications and registered scope of supply.