London (British isles), Paris (France), February 8, 2021
Nest has right now declared that its long run scheme administrator will be world wide electronic transformation firm Atos.
The new service, which will start off in 2023, will concentrate on building the most of developments in know-how and details analytics to produce individualized and personalized solutions to each and every of its associates.
Atos’s state-of-the-art know-how and cloud web hosting system will supply a scalable, agile and low-carbon resolution for all processing and administrative IT, which can adapt to long run needs.
Awarded next a competitive tender operate in line with Public Contracts Regulations 2015 the new contract will previous for a minimum amount of 10 many years with an optional extension interval of up to 5 many years and the solution of an additional interval of up to three many years for exit.
Otto Thoresen, Nest Company Chair, commented:
“Following a extremely competitive procurement I am delighted to verify we have awarded the following contract for our scheme administration service to Atos. Our purpose was to uncover a provider that will assist our ambitions to continue to grow the scheme for an increasingly electronic globe, boost our service to clients and harness developments in know-how to more increase efficiency even though lessening expenditures.
“We are confident the new contract will produce considerable advantages to our clients whilst permitting us to keep expenditures low and making certain our service carries on to be sturdy and protected.
“We are now focused on preparing for a protected and stable transition of solutions in 2023 and making certain this method functions smoothly for Nest’s clients.”
Commenting on the announcement, Nest Chief Government Helen Dean claimed,
“I am hunting ahead to performing with our new husband or wife for the following chapter in Nest’s story. Atos will aid us to continue our achievements and will aid produce considerable improvements for our clients in the coming many years.
“While today’s announcement marks the following stage in Nest’s evolution, I am so proud of the place we have come from. Around thirteen many years, we have constructed a electronic pension scheme from scratch which has grow to be home to millions of savers and the supplier of selection for hundreds of 1000’s of businesses.
“We’re hunting ahead to setting up on this potent basis to just take Nest to the following degree, advancing our electronic scheme and continuing to supply a globe course service, for performing people today.”
Adrian Gregory, SEVP, World Head of Monetary Products and services & Insurance policy, Atos, claimed:
“We are specifically proud to have been awarded this contract and share a frequent desire to build a genuinely electronic Nest that will produce versus the transforming landscape and be a cornerstone of Nest’s long run achievements. This partnership is a genuinely inspiring prospect, and by mixing people today, operations, procedures and know-how to produce a service with associates at its heart, our world wide community of Atos electronic and organization transformation professionals will assist our shut collaboration with Nest to produce the following chapter in its story.”
Nest will now start off a phased method to handle the transition to the new contract and guarantee a stable and protected transfer of operations in 2023.
Notes to editors
Nest’s scheme administrator manages a selection of solutions including enrolling associates, accumulating contributions, controlling accounts and accessing cost savings, employer participation, and passing resources to the fund administrator.
Nest started preparing for the procurement of its new administration solutions in 2015 and launched its community tender in May well 2019. 6 bidders ended up shortlisted from a area of twelve for competitive dialogue, centered on analysis of their monetary power, their prior working experience in developing and jogging identical solutions, and in controlling massive scale transition and migrations. Shortlisted bidders ended up assessed by using open up dialogue in line with the next significant achievements aspects that Nest determined:
— strengthening shopper results: our vision is to aid millions enjoy a superior retirement. Our new scheme administration solutions need to concentrate on how developments in know-how and deep details analytics guarantee a cohesive solution to continuous enhancement and excellence in shopper service. This is so we can aid all our clients to make the appropriate selections and travel superior results for their retirement,
— offering solutions consistent with our values and capabilities: Nest is underpinned by the values of transparency, simplicity, empowerment and regard. We want our long run solutions to establish in alignment with these and get the job done with a husband or wife that understands “what helps make Nest, Nest” and can supply skills that enhances the capabilities that presently sit in just our organisation,
— securing price for dollars for our clients: we have to have to scope our solutions to in good shape the requires of our clients and produce price for dollars above the lifetime of the solutions including exit. We need to operate a competitive and lawfully compliant procurement,
— enabling a economically sustainable Nest: we are in the long run funded by our associates. Our new service need to be sent in an productive way which seeks to align our professional pursuits, supports the extended-term monetary forecasts for the scheme and allows prospects to maintain and expand sustainable revenue streams,
— controlling our risks: the continued achievements of Nest need to have rely on at its main. Our clients have to have to rely on that we can correctly glance soon after their details and assets. It is critical that we can handle a sleek transition into our new scheme administration service and that as soon as we are dwell, that service is sturdy and protected.
Nest’s present contract runs right up until 2023 to guarantee a sleek transition and continuous service for associates.
Nest was established up by the federal government to guarantee every British isles employer could give a place of work pension to their staff. Since then, it is grown to grow to be the greatest place of work pension scheme in the region by membership, with additional than 9.7million associates. One in three of the performing inhabitants is anticipated to have a Nest retirement pot by the late 2020s.
As a not-for-financial gain pension scheme, Nest was established up to provide its customers’ pursuits and aims to aid millions of people today enjoy a superior retirement. Nest’s associates gain from an award-successful expense approach and a single of the most diversified DC portfolios in the field. By the end of the following decade Nest is anticipated to have all-around £100bn assets beneath administration.
Atos is a world wide chief in electronic transformation with one hundred ten,000 staff and yearly revenue of € twelve billion. European selection a single in cybersecurity, cloud and significant efficiency computing, the team provides personalized end-to-end alternatives for all industries in 73 nations. A pioneer in decarbonization solutions and merchandise, Atos is committed to a protected and decarbonized electronic for its customers. Atos operates beneath the brand names Atos and Atos|Syntel. Atos is a SE (Societas Europaea), outlined on the CAC40 Paris stock index.
The objective of Atos is to aid style the long run of the information room. Its skills and solutions assist the enhancement of understanding, education and learning and investigate in a multicultural solution and add to the enhancement of scientific and technological excellence. Throughout the globe, the team allows its clients and staff, and associates of societies at massive to dwell, get the job done and establish sustainably, in a risk-free and protected information room.
Atos will leverage the strategic functionality and ability of its pensions and administration centre of excellence. The corporation provides a world wide community of monetary solutions digitalisation and organization transformation specialists along with a rich pool of working experience as a outcome of performing with main monetary institutions in the British isles and in other nations.
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