London (British isles), Paris (France), February eight, 2021
Nest has these days introduced that its future plan administrator will be world-wide electronic transformation business Atos.
The new company, which will get started in 2023, will concentrate on producing the most of advancements in technologies and information analytics to produce individualized and tailored services to every of its customers.
Atos’s condition-of-the-art technologies and cloud web hosting system will deliver a scalable, agile and lower-carbon remedy for all processing and administrative IT, which can adapt to future requirements.
Awarded adhering to a aggressive tender operate in line with General public Contracts Rules 2015 the new deal will final for a minimum of ten several years with an optional extension period of up to five several years and the possibility of an extra period of up to a few several years for exit.
Otto Thoresen, Nest Company Chair, commented:
“Following a quite aggressive procurement I am delighted to confirm we have awarded the upcoming deal for our plan administration company to Atos. Our aim was to come across a provider that will assistance our ambitions to carry on to grow the plan for an progressively electronic environment, enhance our company to consumers and harness advancements in technologies to additional enhance performance whilst reducing expenditures.
“We are self-confident the new deal will produce major positive aspects to our consumers although allowing us to retain expenditures lower and ensuring our company carries on to be sturdy and protected.
“We are now targeted on planning for a protected and secure transition of services in 2023 and ensuring this process works smoothly for Nest’s consumers.”
Commenting on the announcement, Nest Chief Government Helen Dean reported,
“I am hunting ahead to doing the job with our new husband or wife for the upcoming chapter in Nest’s story. Atos will assist us to carry on our good results and will assist produce major advancements for our consumers in the coming several years.
“While today’s announcement marks the upcoming stage in Nest’s evolution, I am so proud of in which we’ve appear from. About 13 several years, we have developed a electronic pension plan from scratch which has grow to be property to thousands and thousands of savers and the company of selection for hundreds of countless numbers of businesses.
“We’re hunting ahead to developing on this solid foundation to get Nest to the upcoming stage, advancing our electronic plan and continuing to deliver a environment course company, for doing the job men and women.”
Adrian Gregory, SEVP, World wide Head of Financial Providers & Insurance policies, Atos, reported:
“We are primarily proud to have been awarded this deal and share a widespread wish to develop a actually electronic Nest that will produce against the modifying landscape and be a cornerstone of Nest’s future good results. This partnership is a actually inspiring prospect, and by mixing men and women, operations, processes and technologies to produce a company with customers at its coronary heart, our world-wide community of Atos electronic and business enterprise transformation professionals will assist our shut collaboration with Nest to produce the upcoming chapter in its story.”
Nest will now get started a phased plan to manage the transition to the new deal and make certain a secure and protected transfer of operations in 2023.
Notes to editors
Nest’s plan administrator manages a variety of services including enrolling customers, amassing contributions, running accounts and accessing personal savings, employer participation, and passing resources to the fund administrator.
Nest began planning for the procurement of its new administration services in 2015 and released its community tender in Might 2019. 6 bidders were being shortlisted from a subject of twelve for aggressive dialogue, based mostly on analysis of their monetary energy, their previous encounter in setting up and working very similar services, and in running substantial scale transition and migrations. Shortlisted bidders were being assessed by using open dialogue in line with the adhering to significant good results variables that Nest discovered:
— improving purchaser outcomes: our eyesight is to assist thousands and thousands love a much better retirement. Our new plan administration services will have to concentrate on how advancements in technologies and deep information analytics make certain a cohesive approach to continuous improvement and excellence in purchaser company. This is so we can assist all our consumers to make the ideal choices and drive much better outcomes for their retirement,
— delivering services dependable with our values and capabilities: Nest is underpinned by the values of transparency, ease, empowerment and respect. We want our future services to build in alignment with these and perform with a husband or wife that understands “what would make Nest, Nest” and can deliver skills that enhances the capabilities that previously sit in our organisation,
— securing price for funds for our consumers: we will need to scope our services to match the requirements of our consumers and produce price for funds over the existence of the services including exit. We will have to operate a aggressive and lawfully compliant procurement,
— enabling a financially sustainable Nest: we are ultimately funded by our customers. Our new company will have to be sent in an economical way which seeks to align our industrial pursuits, supports the lengthy-time period monetary forecasts for the plan and permits prospects to preserve and develop sustainable income streams,
— running our risks: the continued good results of Nest will have to have belief at its core. Our consumers will need to belief that we can successfully glance immediately after their information and assets. It is vital that we can manage a clean transition into our new plan administration company and that the moment we are stay, that company is sturdy and protected.
Nest’s present-day deal operates until 2023 to make certain a clean transition and continuous company for customers.
Nest was set up by the authorities to make certain every British isles employer could offer you a office pension to their employees. Because then, it is developed to grow to be the premier office pension plan in the region by membership, with a lot more than 9.7million customers. Just one in a few of the doing the job population is expected to have a Nest retirement pot by the late 2020s.
As a not-for-gain pension plan, Nest was set up to serve its customers’ pursuits and aims to assist thousands and thousands of men and women love a much better retirement. Nest’s customers reward from an award-winning financial commitment system and a single of the most diversified DC portfolios in the business. By the close of the upcoming 10 years Nest is expected to have close to £100bn assets underneath administration.
Atos is a world-wide leader in electronic transformation with 110,000 employees and once-a-year income of € twelve billion. European number a single in cybersecurity, cloud and superior general performance computing, the team offers tailored close-to-close solutions for all industries in 73 international locations. A pioneer in decarbonization services and merchandise, Atos is dedicated to a protected and decarbonized electronic for its shoppers. Atos operates underneath the models Atos and Atos|Syntel. Atos is a SE (Societas Europaea), mentioned on the CAC40 Paris inventory index.
The intent of Atos is to assist structure the future of the info area. Its skills and services assistance the advancement of understanding, instruction and research in a multicultural approach and add to the advancement of scientific and technological excellence. Across the environment, the team permits its consumers and employees, and customers of societies at substantial to stay, perform and build sustainably, in a safe and protected info area.
Atos will leverage the strategic ability and capability of its pensions and administration centre of excellence. The business brings a world-wide community of monetary services digitalisation and business enterprise transformation professionals together with a prosperous pool of encounter as a final result of doing the job with main monetary establishments in the British isles and in other international locations.
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