EUROPE – The European Commission has tendered a €400,000 contract for a comparative analysis of consumer long-term savings vehicles in the EU market.

According to the contract notice, “This study is an analysis of how the market for long-term savings vehicles for consumers is evolving and whether its is serving consumers’ needs.”

The EC is tendering for an analysis of products, market structure, costs, distribution systems and consumer saving patterns.

The assessment should identify products sold to consumers wanting to save for the long-term. It should also analyse these consumers and the factors influencing their purchase of specific products.

Lastly, it should give a description of the distribution channels supplying such products, said the contract notice.

The time limit for completion is 11 months from the award of the contract.

“The Commission may request tenderers to provide a guarantee or a performance guarantee under the conditions provided in the tender specifications,” said the contract notice.

It added the tender applicant and team will have a track record in the “compilation and exploitation” of statistical data in the financial services arena.

The team must also have a strong record of “original, independent and high-quality” research, and have the capacity to include a “representative sample” of EU member states in the analysis.

The contract will be awarded based on price, human and technical resources (45), methodology (30), and geographical reach across EU member states (25).

Tenders can be drawn up in Czech, Danish, Dutch, English, Estonian, Finnish, French, German, Greek, Hungarian, Italian, Latvian, Lithuanian, Maltese, Polish, Portuguese, Slovak, Slovene, Spanish and Swedish.

The closing date is May 29.