London (United kingdom), Paris (France), February 8, 2021
Nest has nowadays announced that its long run scheme administrator will be world wide digital transformation business Atos.
The new provider, which will start off in 2023, will concentrate on making the most of improvements in technologies and details analytics to produce personalised and tailor-made solutions to every of its customers.
Atos’s condition-of-the-artwork technologies and cloud hosting system will give a scalable, agile and low-carbon option for all processing and administrative IT, which can adapt to long run needs.
Awarded following a aggressive tender run in line with General public Contracts Rules 2015 the new deal will final for a minimal of 10 yrs with an optional extension period of up to 5 yrs and the selection of an added period of up to a few yrs for exit.
Otto Thoresen, Nest Company Chair, commented:
“Following a really aggressive procurement I am pleased to ensure we have awarded the subsequent deal for our scheme administration provider to Atos. Our purpose was to discover a supplier that will assist our ambitions to carry on to broaden the scheme for an significantly digital earth, enhance our provider to consumers and harness improvements in technologies to further increase effectiveness while reducing costs.
“We are confident the new deal will produce major benefits to our consumers while permitting us to maintain costs low and making certain our provider proceeds to be sturdy and safe.
“We are now centered on preparing for a safe and steady changeover of solutions in 2023 and making certain this method operates smoothly for Nest’s consumers.”
Commenting on the announcement, Nest Main Govt Helen Dean stated,
“I am searching forward to performing with our new partner for the subsequent chapter in Nest’s tale. Atos will assistance us to carry on our results and will assistance produce major advancements for our consumers in the coming yrs.
“While today’s announcement marks the subsequent phase in Nest’s evolution, I am so happy of in which we’ve occur from. About thirteen yrs, we have created a digital pension scheme from scratch which has grow to be home to thousands and thousands of savers and the company of choice for hundreds of 1000’s of employers.
“We’re searching forward to constructing on this powerful basis to choose Nest to the subsequent stage, advancing our digital scheme and continuing to give a earth course provider, for performing men and women.”
Adrian Gregory, SEVP, Worldwide Head of Money Services & Coverage, Atos, stated:
“We are specifically happy to have been awarded this deal and share a popular drive to make a certainly digital Nest that will produce against the changing landscape and be a cornerstone of Nest’s long run results. This partnership is a certainly inspiring prospect, and by blending men and women, operations, processes and technologies to produce a provider with customers at its heart, our world wide network of Atos digital and business transformation specialists will assist our near collaboration with Nest to produce the subsequent chapter in its tale.”
Nest will now start off a phased software to regulate the changeover to the new deal and ensure a steady and safe transfer of operations in 2023.
Notes to editors
Nest’s scheme administrator manages a vary of solutions including enrolling customers, amassing contributions, managing accounts and accessing discounts, employer participation, and passing money to the fund administrator.
Nest began planning for the procurement of its new administration solutions in 2015 and released its public tender in May 2019. 6 bidders have been shortlisted from a industry of twelve for aggressive dialogue, centered on evaluation of their monetary power, their previous encounter in setting up and functioning identical solutions, and in managing massive scale changeover and migrations. Shortlisted bidders have been assessed by way of open dialogue in line with the following significant results variables that Nest identified:
— bettering purchaser results: our vision is to assistance thousands and thousands appreciate a much better retirement. Our new scheme administration solutions have to concentrate on how improvements in technologies and deep details analytics ensure a cohesive strategy to continual improvement and excellence in purchaser provider. This is so we can assistance all our consumers to make the correct decisions and travel much better results for their retirement,
— offering solutions consistent with our values and capabilities: Nest is underpinned by the values of transparency, relieve, empowerment and respect. We want our long run solutions to create in alignment with these and operate with a partner that understands “what tends to make Nest, Nest” and can give experience that complements the capabilities that currently sit within just our organisation,
— securing value for money for our consumers: we want to scope our solutions to match the requirements of our consumers and produce value for money in excess of the lifetime of the solutions including exit. We have to run a aggressive and legally compliant procurement,
— enabling a monetarily sustainable Nest: we are in the long run funded by our customers. Our new provider have to be shipped in an productive way which seeks to align our business pursuits, supports the extended-term monetary forecasts for the scheme and enables alternatives to retain and expand sustainable earnings streams,
— managing our threats: the ongoing results of Nest have to have have confidence in at its main. Our consumers want to have confidence in that we can effectively look immediately after their details and belongings. It is critical that we can regulate a clean changeover into our new scheme administration provider and that the moment we are stay, that provider is sturdy and safe.
Nest’s current deal runs right until 2023 to ensure a clean changeover and continual provider for customers.
Nest was established up by the federal government to ensure each and every United kingdom employer could give a place of work pension to their workforce. Considering the fact that then, it is developed to grow to be the premier place of work pension scheme in the place by membership, with far more than 9.7million customers. 1 in a few of the performing population is envisioned to have a Nest retirement pot by the late 2020s.
As a not-for-revenue pension scheme, Nest was established up to provide its customers’ pursuits and aims to assistance thousands and thousands of men and women appreciate a much better retirement. Nest’s customers reward from an award-successful investment decision approach and one of the most diversified DC portfolios in the marketplace. By the conclude of the subsequent ten years Nest is envisioned to have around £100bn belongings underneath administration.
Atos is a world wide leader in digital transformation with a hundred and ten,000 workforce and annual earnings of € 12 billion. European number one in cybersecurity, cloud and high effectiveness computing, the group presents tailor-made conclude-to-conclude remedies for all industries in seventy three international locations. A pioneer in decarbonization solutions and goods, Atos is dedicated to a safe and decarbonized digital for its shoppers. Atos operates underneath the manufacturers Atos and Atos|Syntel. Atos is a SE (Societas Europaea), listed on the CAC40 Paris inventory index.
The reason of Atos is to assistance structure the long run of the info area. Its experience and solutions assist the improvement of know-how, education and learning and investigate in a multicultural strategy and lead to the improvement of scientific and technological excellence. Throughout the earth, the group enables its consumers and workforce, and customers of societies at massive to stay, operate and create sustainably, in a safe and safe info area.
Atos will leverage the strategic capability and capacity of its pensions and administration centre of excellence. The firm brings a world wide network of monetary solutions digitalisation and business transformation pros along with a prosperous pool of encounter as a outcome of performing with top monetary establishments in the United kingdom and in other international locations.
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