London (British isles), Paris (France), February eight, 2021
Nest has nowadays introduced that its future plan administrator will be world digital transformation company Atos.
The new services, which will start off in 2023, will concentrate on building the most of advances in technological innovation and info analytics to provide personalised and customized expert services to each individual of its members.
Atos’s point out-of-the-artwork technological innovation and cloud internet hosting system will provide a scalable, agile and reduced-carbon option for all processing and administrative IT, which can adapt to future needs.
Awarded adhering to a competitive tender operate in line with General public Contracts Polices 2015 the new agreement will final for a minimal of 10 years with an optional extension period of time of up to 5 years and the alternative of an added period of time of up to 3 years for exit.
Otto Thoresen, Nest Company Chair, commented:
“Following a really competitive procurement I am pleased to affirm we have awarded the next agreement for our plan administration services to Atos. Our aim was to locate a provider that will aid our ambitions to proceed to expand the plan for an progressively digital globe, boost our services to shoppers and harness advances in technological innovation to even further enhance efficiency whilst reducing costs.
“We are self-assured the new agreement will provide sizeable added benefits to our shoppers whilst allowing for us to retain costs reduced and ensuring our services continues to be robust and secure.
“We are now centered on getting ready for a secure and stable transition of expert services in 2023 and ensuring this system will work effortlessly for Nest’s shoppers.”
Commenting on the announcement, Nest Chief Government Helen Dean said,
“I am looking ahead to working with our new partner for the next chapter in Nest’s tale. Atos will help us to proceed our results and will help provide sizeable improvements for our shoppers in the coming years.
“While today’s announcement marks the next phase in Nest’s evolution, I am so very pleased of where we’ve come from. Around 13 years, we have designed a digital pension plan from scratch which has grow to be home to tens of millions of savers and the provider of choice for hundreds of countless numbers of companies.
“We’re looking ahead to developing on this robust basis to choose Nest to the next degree, advancing our digital plan and continuing to provide a globe course services, for working people today.”
Adrian Gregory, SEVP, Global Head of Monetary Companies & Coverage, Atos, said:
“We are specially very pleased to have been awarded this agreement and share a widespread need to construct a genuinely digital Nest that will provide towards the changing landscape and be a cornerstone of Nest’s future results. This partnership is a genuinely inspiring prospect, and by blending people today, functions, processes and technological innovation to provide a services with members at its coronary heart, our world community of Atos digital and organization transformation experts will assist our shut collaboration with Nest to provide the next chapter in its tale.”
Nest will now start off a phased program to manage the transition to the new agreement and be certain a stable and secure transfer of functions in 2023.
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Notes to editors
Nest’s plan administrator manages a range of expert services which include enrolling members, collecting contributions, controlling accounts and accessing price savings, employer participation, and passing cash to the fund administrator.
Nest commenced scheduling for the procurement of its new administration expert services in 2015 and released its general public tender in May 2019. Six bidders had been shortlisted from a subject of twelve for competitive dialogue, primarily based on evaluation of their economical toughness, their past experience in setting up and operating equivalent expert services, and in controlling massive scale transition and migrations. Shortlisted bidders had been assessed via open up dialogue in line with the adhering to critical results variables that Nest discovered:
— increasing buyer results: our vision is to help tens of millions take pleasure in a better retirement. Our new plan administration expert services will have to concentrate on how advances in technological innovation and deep info analytics be certain a cohesive tactic to steady advancement and excellence in buyer services. This is so we can help all our shoppers to make the suitable selections and travel better results for their retirement,
— offering expert services reliable with our values and abilities: Nest is underpinned by the values of transparency, simplicity, empowerment and regard. We want our future expert services to produce in alignment with these and work with a partner that understands “what tends to make Nest, Nest” and can provide skills that enhances the abilities that now sit in just our organisation,
— securing benefit for revenue for our shoppers: we need to scope our expert services to healthy the demands of our shoppers and provide benefit for revenue in excess of the daily life of the expert services which include exit. We will have to operate a competitive and legally compliant procurement,
— enabling a financially sustainable Nest: we are in the long run funded by our members. Our new services will have to be shipped in an efficient way which seeks to align our industrial passions, supports the extended-time period economical forecasts for the plan and enables opportunities to maintain and grow sustainable revenue streams,
— controlling our dangers: the continued results of Nest will have to have rely on at its main. Our shoppers need to rely on that we can effectively glimpse immediately after their info and assets. It is critical that we can manage a smooth transition into our new plan administration services and that at the time we are reside, that services is robust and secure.
Nest’s present-day agreement operates until finally 2023 to be certain a smooth transition and steady services for members.
About Nest
Nest was established up by the govt to b
e certain each and every British isles employer could give a place of work pension to their employees. Since then, it is developed to grow to be the most significant place of work pension plan in the nation by membership, with much more than nine.7million members. One particular in 3 of the working populace is predicted to have a Nest retirement pot by the late 2020s.
As a not-for-gain pension plan, Nest was established up to serve its customers’ passions and aims to help tens of millions of people today take pleasure in a better retirement. Nest’s members gain from an award-profitable investment system and a single of the most diversified DC portfolios in the industry. By the close of the next ten years Nest is predicted to have all around £100bn assets below management.
About Atos
Atos is a world leader in digital transformation with 110,000 employees and once-a-year revenue of € 12 billion. European variety a single in cybersecurity, cloud and higher general performance computing, the team offers customized close-to-close solutions for all industries in seventy three nations around the world. A pioneer in decarbonization expert services and goods, Atos is fully commited to a secure and decarbonized digital for its purchasers. Atos operates below the makes Atos and Atos|Syntel. Atos is a SE (Societas Europaea), listed on the CAC40 Paris stock index.
The intent of Atos is to help design and style the future of the details place. Its skills and expert services aid the growth of information, schooling and investigate in a multicultural tactic and add to the growth of scientific and technological excellence. Throughout the globe, the team enables its shoppers and employees, and members of societies at massive to reside, work and produce sustainably, in a risk-free and secure details place.
Atos will leverage the strategic capability and capacity of its pensions and administration centre of excellence. The enterprise delivers a world community of economical expert services digitalisation and organization transformation specialists alongside a abundant pool of experience as a final result of working with foremost economical establishments in the British isles and in other nations around the world.
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