London (Uk), Paris (France), February eight, 2021
Nest has these days declared that its long term scheme administrator will be world wide electronic transformation business Atos.
The new services, which will commence in 2023, will concentrate on building the most of developments in technology and facts analytics to deliver personalized and personalized providers to each of its customers.
Atos’s point out-of-the-art technology and cloud internet hosting platform will supply a scalable, agile and lower-carbon alternative for all processing and administrative IT, which can adapt to long term prerequisites.
Awarded following a aggressive tender operate in line with General public Contracts Regulations 2015 the new agreement will past for a minimal of 10 decades with an optional extension period of up to five decades and the option of an supplemental period of up to 3 decades for exit.
Otto Thoresen, Nest Corporation Chair, commented:
“Following a very aggressive procurement I am delighted to confirm we have awarded the next agreement for our scheme administration services to Atos. Our purpose was to come across a supplier that will support our ambitions to continue on to expand the scheme for an increasingly electronic earth, increase our services to buyers and harness developments in technology to more improve efficiency though lessening fees.
“We are assured the new agreement will deliver substantial advantages to our buyers even though allowing for us to hold fees lower and guaranteeing our services proceeds to be strong and safe.
“We are now concentrated on preparing for a safe and steady transition of providers in 2023 and guaranteeing this procedure functions efficiently for Nest’s buyers.”
Commenting on the announcement, Nest Chief Government Helen Dean explained,
“I am hunting forward to doing the job with our new associate for the next chapter in Nest’s story. Atos will help us to continue on our good results and will help deliver substantial advancements for our buyers in the coming decades.
“While today’s announcement marks the next stage in Nest’s evolution, I am so happy of exactly where we have arrive from. More than thirteen decades, we have constructed a electronic pension scheme from scratch which has become household to tens of millions of savers and the company of option for hundreds of countless numbers of employers.
“We’re hunting forward to setting up on this strong foundation to acquire Nest to the next level, advancing our electronic scheme and continuing to supply a earth class services, for doing the job people today.”
Adrian Gregory, SEVP, World Head of Monetary Providers & Insurance plan, Atos, explained:
“We are primarily happy to have been awarded this agreement and share a popular drive to build a genuinely electronic Nest that will deliver versus the altering landscape and be a cornerstone of Nest’s long term good results. This partnership is a genuinely inspiring prospect, and by mixing people today, functions, procedures and technology to deliver a services with customers at its coronary heart, our world wide community of Atos electronic and business transformation professionals will help our shut collaboration with Nest to deliver the next chapter in its story.”
Nest will now commence a phased system to handle the transition to the new agreement and make certain a steady and safe transfer of functions in 2023.
Notes to editors
Nest’s scheme administrator manages a array of providers which include enrolling customers, accumulating contributions, managing accounts and accessing price savings, employer participation, and passing money to the fund administrator.
Nest commenced preparing for the procurement of its new administration providers in 2015 and launched its general public tender in Could 2019. Six bidders had been shortlisted from a subject of twelve for aggressive dialogue, centered on analysis of their monetary toughness, their previous knowledge in developing and functioning equivalent providers, and in managing big scale transition and migrations. Shortlisted bidders had been assessed via open up dialogue in line with the following essential good results variables that Nest recognized:
— increasing customer results: our eyesight is to help tens of millions take pleasure in a much better retirement. Our new scheme administration providers will have to concentrate on how developments in technology and deep facts analytics make certain a cohesive approach to continual enhancement and excellence in customer services. This is so we can help all our buyers to make the right decisions and drive much better results for their retirement,
— offering providers steady with our values and capabilities: Nest is underpinned by the values of transparency, ease, empowerment and regard. We want our long term providers to establish in alignment with these and perform with a associate that understands “what tends to make Nest, Nest” and can supply expertise that complements the capabilities that currently sit inside our organisation,
— securing benefit for revenue for our buyers: we need to have to scope our providers to in good shape the requirements of our buyers and deliver benefit for revenue in excess of the life of the providers which include exit. We will have to operate a aggressive and legally compliant procurement,
— enabling a financially sustainable Nest: we are in the long run funded by our customers. Our new services will have to be shipped in an successful way which seeks to align our industrial passions, supports the extensive-time period monetary forecasts for the scheme and allows alternatives to retain and increase sustainable revenue streams,
— managing our risks: the continued good results of Nest will have to have belief at its core. Our buyers need to have to belief that we can proficiently glance right after their facts and belongings. It is crucial that we can handle a easy transition into our new scheme administration services and that after we are stay, that services is strong and safe.
Nest’s present-day agreement runs till 2023 to make certain a easy transition and continual services for customers.
Nest was set up by the governing administration to make certain each Uk employer could offer you a workplace pension to their workers. Due to the fact then, it is developed to become the greatest workplace pension scheme in the state by membership, with more than 9.7million customers. A person in 3 of the doing the job population is predicted to have a Nest retirement pot by the late 2020s.
As a not-for-earnings pension scheme, Nest was set up to serve its customers’ passions and aims to help tens of millions of people today take pleasure in a much better retirement. Nest’s customers reward from an award-winning financial investment method and one particular of the most diversified DC portfolios in the marketplace. By the finish of the next ten years Nest is predicted to have all over £100bn belongings underneath management.
Atos is a world wide chief in electronic transformation with one hundred ten,000 workers and once-a-year revenue of € twelve billion. European selection one particular in cybersecurity, cloud and superior efficiency computing, the team offers personalized finish-to-finish remedies for all industries in 73 international locations. A pioneer in decarbonization providers and solutions, Atos is fully commited to a safe and decarbonized electronic for its clientele. Atos operates underneath the models Atos and Atos|Syntel. Atos is a SE (Societas Europaea), stated on the CAC40 Paris inventory index.
The purpose of Atos is to help style and design the long term of the information room. Its expertise and providers support the advancement of expertise, schooling and investigation in a multicultural approach and lead to the advancement of scientific and technological excellence. Across the earth, the team allows its buyers and workers, and customers of societies at big to stay, perform and establish sustainably, in a safe and sound and safe information room.
Atos will leverage the strategic capacity and capability of its pensions and administration centre of excellence. The enterprise delivers a world wide community of monetary providers digitalisation and business transformation pros alongside a rich pool of knowledge as a end result of doing the job with primary monetary institutions in the Uk and in other international locations.
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