London (United kingdom), Paris (France), February eight, 2021
Nest has nowadays declared that its long term scheme administrator will be world-wide electronic transformation organization Atos.
The new services, which will get started in 2023, will target on producing the most of improvements in technological innovation and knowledge analytics to produce individualized and tailored providers to each of its members.
Atos’s point out-of-the-artwork technological innovation and cloud web hosting platform will deliver a scalable, agile and low-carbon option for all processing and administrative IT, which can adapt to long term needs.
Awarded next a competitive tender run in line with Public Contracts Rules 2015 the new agreement will past for a minimum of 10 decades with an optional extension period of time of up to 5 decades and the choice of an further period of time of up to a few decades for exit.
Otto Thoresen, Nest Corporation Chair, commented:
“Following a really competitive procurement I am happy to confirm we have awarded the subsequent agreement for our scheme administration services to Atos. Our intention was to come across a supplier that will assistance our ambitions to proceed to grow the scheme for an more and more electronic environment, boost our services to consumers and harness improvements in technological innovation to further improve efficiency while cutting down prices.
“We are self-confident the new agreement will produce significant benefits to our consumers while letting us to retain prices low and making sure our services carries on to be sturdy and protected.
“We are now centered on getting ready for a protected and secure transition of providers in 2023 and making sure this system works effortlessly for Nest’s consumers.”
Commenting on the announcement, Nest Main Govt Helen Dean reported,
“I am searching forward to performing with our new partner for the subsequent chapter in Nest’s tale. Atos will enable us to proceed our success and will enable produce significant advancements for our consumers in the coming decades.
“While today’s announcement marks the subsequent phase in Nest’s evolution, I am so proud of exactly where we’ve arrive from. Around thirteen decades, we have crafted a electronic pension scheme from scratch which has grow to be house to thousands and thousands of savers and the provider of alternative for hundreds of hundreds of companies.
“We’re searching forward to making on this powerful basis to just take Nest to the subsequent amount, advancing our electronic scheme and continuing to deliver a environment course services, for performing persons.”
Adrian Gregory, SEVP, World Head of Monetary Products and services & Insurance policy, Atos, reported:
“We are specially proud to have been awarded this agreement and share a prevalent want to construct a actually electronic Nest that will produce against the altering landscape and be a cornerstone of Nest’s long term success. This partnership is a actually inspiring prospect, and by blending persons, functions, processes and technological innovation to produce a services with members at its heart, our world-wide community of Atos electronic and enterprise transformation professionals will help our near collaboration with Nest to produce the subsequent chapter in its tale.”
Nest will now get started a phased plan to take care of the transition to the new agreement and assure a secure and protected transfer of functions in 2023.
Notes to editors
Nest’s scheme administrator manages a assortment of providers including enrolling members, collecting contributions, handling accounts and accessing discounts, employer participation, and passing money to the fund administrator.
Nest began preparing for the procurement of its new administration providers in 2015 and released its general public tender in May possibly 2019. Six bidders were shortlisted from a field of twelve for competitive dialogue, primarily based on analysis of their financial toughness, their previous practical experience in creating and managing similar providers, and in handling massive scale transition and migrations. Shortlisted bidders were assessed via open dialogue in line with the next crucial success things that Nest recognized:
— improving upon purchaser results: our vision is to enable thousands and thousands delight in a far better retirement. Our new scheme administration providers should target on how improvements in technological innovation and deep knowledge analytics assure a cohesive strategy to continuous enhancement and excellence in purchaser services. This is so we can enable all our consumers to make the suitable choices and drive far better results for their retirement,
— providing providers dependable with our values and abilities: Nest is underpinned by the values of transparency, relieve, empowerment and respect. We want our long term providers to build in alignment with these and work with a partner that understands “what tends to make Nest, Nest” and can deliver knowledge that complements the abilities that presently sit within our organisation,
— securing benefit for revenue for our consumers: we need to have to scope our providers to match the requires of our consumers and produce benefit for revenue over the lifetime of the providers including exit. We should run a competitive and legally compliant procurement,
— enabling a fiscally sustainable Nest: we are finally funded by our members. Our new services should be sent in an successful way which seeks to align our business interests, supports the prolonged-time period financial forecasts for the scheme and allows chances to preserve and expand sustainable earnings streams,
— handling our threats: the continued success of Nest should have have faith in at its core. Our consumers need to have to have faith in that we can successfully search immediately after their knowledge and belongings. It is critical that we can take care of a easy transition into our new scheme administration services and that the moment we are reside, that services is sturdy and protected.
Nest’s current agreement runs right until 2023 to assure a easy transition and continuous services for members.
Nest was set up by the federal government to assure every United kingdom employer could offer you a office pension to their employees. Considering the fact that then, it is developed to grow to be the biggest office pension scheme in the state by membership, with additional than nine.7million members. 1 in a few of the performing populace is predicted to have a Nest retirement pot by the late 2020s.
As a not-for-financial gain pension scheme, Nest was set up to provide its customers’ interests and aims to enable thousands and thousands of persons delight in a far better retirement. Nest’s members profit from an award-winning investment strategy and a single of the most diversified DC portfolios in the sector. By the end of the subsequent 10 years Nest is predicted to have about £100bn belongings under administration.
Atos is a world-wide leader in electronic transformation with a hundred and ten,000 employees and yearly earnings of € twelve billion. European quantity a single in cybersecurity, cloud and large general performance computing, the team presents tailored end-to-end alternatives for all industries in seventy three nations around the world. A pioneer in decarbonization providers and solutions, Atos is committed to a protected and decarbonized electronic for its clients. Atos operates under the models Atos and Atos|Syntel. Atos is a SE (Societas Europaea), mentioned on the CAC40 Paris inventory index.
The reason of Atos is to enable layout the long term of the info space. Its knowledge and providers assistance the improvement of know-how, instruction and investigation in a multicultural strategy and add to the improvement of scientific and technological excellence. Throughout the environment, the team allows its consumers and employees, and members of societies at massive to reside, work and build sustainably, in a secure and protected info space.
Atos will leverage the strategic functionality and ability of its pensions and administration centre of excellence. The corporation provides a world-wide community of financial providers digitalisation and enterprise transformation gurus together with a abundant pool of practical experience as a consequence of performing with foremost financial institutions in the United kingdom and in other nations around the world.
Adam Fisher | [email protected] | +44 7989 145665