Nest appoints Atos to design and build digital future-focused scheme

London (United kingdom), Paris (France), February eight, 2021

Nest has nowadays announced that its future plan administrator will be international digital transformation company Atos.

The new provider, which will commence in 2023, will target on generating the most of advances in technological know-how and facts analytics to provide personalised and tailor-made companies to just about every of its members.

Atos’s point out-of-the-artwork technological know-how and cloud internet hosting system will give a scalable, agile and very low-carbon option for all processing and administrative IT, which can adapt to future demands.

Awarded pursuing a competitive tender operate in line with Public Contracts Polices 2015 the new deal will past for a minimum amount of ten yrs with an optional extension period of time of up to 5 yrs and the solution of an supplemental period of time of up to 3 yrs for exit.

Otto Thoresen, Nest Corporation Chair, commented:

“Following a incredibly competitive procurement I am happy to validate we have awarded the future deal for our plan administration provider to Atos. Our purpose was to come across a provider that will assist our ambitions to keep on to grow the plan for an significantly digital world, strengthen our provider to buyers and harness advances in technological know-how to further more improve performance whilst cutting down fees.

“We are self-confident the new deal will provide substantial benefits to our buyers whilst making it possible for us to continue to keep fees very low and ensuring our provider proceeds to be strong and protected.

“We are now centered on preparing for a protected and stable changeover of companies in 2023 and ensuring this procedure works effortlessly for Nest’s buyers.”

Commenting on the announcement, Nest Main Govt Helen Dean mentioned,

“I am seeking forward to working with our new associate for the future chapter in Nest’s tale. Atos will enable us to keep on our success and will enable provide substantial improvements for our buyers in the coming yrs.

“While today’s announcement marks the future stage in Nest’s evolution, I am so proud of in which we have occur from. Around thirteen yrs, we have built a digital pension plan from scratch which has turn out to be dwelling to thousands and thousands of savers and the supplier of alternative for hundreds of thousands of employers.

“We’re seeking forward to building on this potent basis to consider Nest to the future level, advancing our digital plan and continuing to give a world course provider, for working people.”

Adrian Gregory, SEVP, World-wide Head of Fiscal Companies & Coverage, Atos, mentioned:

“We are especially proud to have been awarded this deal and share a frequent need to make a certainly digital Nest that will provide towards the altering landscape and be a cornerstone of Nest’s future success. This partnership is a certainly inspiring prospect, and by mixing people, operations, processes and technological know-how to provide a provider with members at its heart, our international network of Atos digital and business enterprise transformation professionals will aid our close collaboration with Nest to provide the future chapter in its tale.”

Nest will now commence a phased system to deal with the changeover to the new deal and make certain a stable and protected transfer of operations in 2023.

***

Notes to editors

Nest’s plan administrator manages a vary of companies such as enrolling members, gathering contributions, controlling accounts and accessing price savings, employer participation, and passing funds to the fund administrator.

Nest commenced planning for the procurement of its new administration companies in 2015 and introduced its public tender in May perhaps 2019. 6 bidders were shortlisted from a discipline of twelve for competitive dialogue, based mostly on analysis of their economical power, their previous practical experience in setting up and running comparable companies, and in controlling substantial scale changeover and migrations. Shortlisted bidders were assessed via open up dialogue in line with the pursuing important success variables that Nest determined:

— improving shopper results: our vision is to enable thousands and thousands get pleasure from a far better retirement. Our new plan administration companies ought to target on how advances in technological know-how and deep facts analytics make certain a cohesive tactic to steady enhancement and excellence in shopper provider. This is so we can enable all our buyers to make the appropriate decisions and travel far better results for their retirement,

— providing companies steady with our values and abilities: Nest is underpinned by the values of transparency, simplicity, empowerment and respect. We want our future companies to acquire in alignment with these and operate with a associate that understands “what would make Nest, Nest” and can give experience that enhances the abilities that presently sit inside of our organisation,

— securing value for revenue for our buyers: we require to scope our companies to suit the wants of our buyers and provide value for revenue over the daily life of the companies such as exit. We ought to operate a competitive and lawfully compliant procurement,

— enabling a financially sustainable Nest: we are finally funded by our members. Our new provider ought to be delivered in an economical way which seeks to align our industrial passions, supports the extended-term economical forecasts for the plan and enables options to sustain and improve sustainable revenue streams,

— controlling our hazards: the continued success of Nest ought to have believe in at its main. Our buyers require to believe in that we can correctly glance after their facts and assets. It is very important that we can deal with a clean changeover into our new plan administration provider and that when we are are living, that provider is strong and protected.

Nest’s current deal runs till 2023 to make certain a clean changeover and steady provider for members.

About Nest

Nest was set up by the government to make certain every single United kingdom employer could provide a workplace pension to their employees. Due to the fact then, it’s developed to turn out to be the greatest workplace pension plan in the country by membership, with extra than nine.7million members. A person in 3 of the working populace is envisioned to have a Nest retirement pot by the late 2020s.

As a not-for-financial gain pension plan, Nest was set up to provide its customers’ passions and aims to enable thousands and thousands of people get pleasure from a far better retirement. Nest’s members gain from an award-profitable expense strategy and one of the most diversified DC portfolios in the marketplace. By the stop of the future ten years Nest is envisioned to have close to £100bn assets beneath management.

About Atos

Atos is a international leader in digital transformation with a hundred and ten,000 employees and once-a-year revenue of € twelve billion. European amount one in cybersecurity, cloud and significant efficiency computing, the group gives tailor-made stop-to-stop methods for all industries in 73 countries. A pioneer in decarbonization companies and products, Atos is fully commited to a protected and decarbonized digital for its customers. Atos operates beneath the brand names Atos and Atos|Syntel. Atos is a SE (Societas Europaea), mentioned on the CAC40 Paris stock index.

The function of Atos is to enable design and style the future of the details area. Its experience and companies assist the progress of information, instruction and exploration in a multicultural tactic and lead to the progress of scientific and technological excellence. Throughout the world, the group enables its buyers and employees, and members of societies at substantial to are living, operate and acquire sustainably, in a protected and protected details area.

Atos will leverage the strategic capability and ability of its pensions and administration centre of excellence. The enterprise provides a international network of economical companies digitalisation and business enterprise transformation professionals along with a loaded pool of practical experience as a end result of working with leading economical institutions in the United kingdom and in other countries.

Push Get hold of:

Adam Fisher | [email protected] | +44 7989 145665