Pada draws up shortlist to administer personal accounts

The Personal Accounts Delivery Authority (Pada) has drawn up a shortlist of four suppliers to administer the personal accounts scheme.

The four suppliers are Logica UK, Danish firm Arbejdsmarkedet Tillaegspension, Great-West Retirement Services (which involves Canada Life Group and Great-West Life and Annuity Insurance Company), and Tata Consultancy Services.

Pada completed its evaluation of the pre-qualification questionnaires and has invited shortlisted suppliers to take part in the next stage of the procurement process, described as competitive dialogue.

The competitive dialogue process will last a number of months and Pada does not expect to sign a contract with the successful bidder until June 2010.

Tim Jones, chief executive of Pada, said: “First and foremost, Pada’s priority has been to ensure that we identify suppliers with experience of running very large scale DC pensions arrangements. We have conducted an extensive market engagement process prior to the commencement of the procurement process, so that potential bidders have the opportunity to better understand the nature of the services and obligations that will underpin any contract eventually awarded.

“All responses were evaluated in the same manner, both fairly and equally. All evaluation of a supplier’s capability will be rigorously assessed by Pada in order to achieve the best outcome for our future

“We are confident that our bidders are building on internal experience and expertise that is relevant to the specifics of this project and bringing additional skills where required.”