Pension Wise & Pension Guidance Services

Introduction: The Money and Pension Service (MaPS) are undertaking a review of the potential combined delivery for Pension Wise and Pension Guidance services and is seeking feedback to understand market interest and ability to deliver the services. MaPS are in the early stages of testing feasibility of service definitions and MaPS is issuing this request for information only. This market engagement exercise is not an invitation to tender or a request for formal expressions of interest.

Service Objectives: • Pension Customers will have the guidance they need at the right time. We will help people navigate our services. Our services will be more efficient and more effective as we direct people to the right channel and guidance first time. • Those most in need will have access to support and assistance at the time they need it, thus avoiding potentially detrimental decisions • Our focus will evolve to reflect changing behaviours in relation to increasing demand for digital and multi-channel services. • In line with our consumer guidance strategy, and legislative remit, guidance gaps are identified and filled.

The current model delivers the following services: Pension Wise - Service Requirements: • Eligibility - citizens aged over 55 looking to access DC pension savings • 45mins - 1hour long scripted conversation covering 6 Pension Freedom Options, pros, cons and risks. • Scale of up to 250,000 appointments per year with variable demand across months • The session will be undertaken virtually either by telephone or video. • There may be a limited requirement for face-to-face sessions. • You must be able to cater for Welsh language, and those with accessibility needs i.e. British Sign Language. • There may also be a requirement for managing customer bookings, queries and feedback. • Regular reporting on customer metrics will be required, as will compliance with MaPS standards and ensuring that quality is at an acceptable level. • Supplier will be required to undertake QA processes and provide assurance to MaPS.

Pension Guidance - Service Requirements: • Eligibility - all citizens who require guidance on any and all aspects of their pension savings including Defined Contribution and Defined Benefit (Private and Public Sector) • Scale of up to 20-25k per month reactive telephone calls with variable demand across months, 500 pre-arranged appointments to provide guidance for safeguarding benefits and divorce cases and provide pre-arranged outreach seminars. • There may also be a requirement for managing customer bookings, queries and feedback. • Regular reporting on customer metrics will be required, as will compliance with MaPS standards and ensuring that quality is at an acceptable level. • Supplier will be required to undertake QA processes and provide assurance to MaPS.

We will be holding a virtual event on 10th January 2023 at 12.30pm via Microsoft Teams, to give interested suppliers further information about our requirements.

Additional information: If you are interested in attending this event please contact Laura Bradshaw to obtain joining instructions, at [email protected] with 'MaPS Pension Wise/Pension Guidance' as the subject.