London (United kingdom), Paris (France), February eight, 2021
Nest has now announced that its foreseeable future scheme administrator will be world-wide electronic transformation agency Atos.
The new company, which will start in 2023, will concentration on making the most of improvements in technological know-how and info analytics to supply personalised and tailor-made solutions to each and every of its users.
Atos’s state-of-the-art technological know-how and cloud internet hosting platform will offer a scalable, agile and lower-carbon alternative for all processing and administrative IT, which can adapt to foreseeable future prerequisites.
Awarded next a competitive tender operate in line with Community Contracts Restrictions 2015 the new agreement will last for a minimum amount of 10 a long time with an optional extension period of time of up to five a long time and the choice of an further period of time of up to a few a long time for exit.
Otto Thoresen, Nest Corporation Chair, commented:
“Following a extremely competitive procurement I am delighted to verify we have awarded the subsequent agreement for our scheme administration company to Atos. Our purpose was to obtain a provider that will help our ambitions to continue to extend the scheme for an increasingly electronic entire world, enhance our company to prospects and harness improvements in technological know-how to additional improve efficiency though minimizing costs.
“We are self-assured the new agreement will supply sizeable positive aspects to our prospects although enabling us to keep costs lower and guaranteeing our company continues to be strong and secure.
“We are now targeted on making ready for a secure and secure transition of solutions in 2023 and guaranteeing this course of action is effective easily for Nest’s prospects.”
Commenting on the announcement, Nest Chief Executive Helen Dean mentioned,
“I am seeking forward to operating with our new partner for the subsequent chapter in Nest’s tale. Atos will support us to continue our achievements and will support supply sizeable advancements for our prospects in the coming a long time.
“While today’s announcement marks the subsequent stage in Nest’s evolution, I am so proud of exactly where we’ve arrive from. Over 13 a long time, we have constructed a electronic pension scheme from scratch which has turn into dwelling to thousands and thousands of savers and the provider of choice for hundreds of hundreds of companies.
“We’re seeking forward to setting up on this powerful basis to get Nest to the subsequent level, advancing our electronic scheme and continuing to offer a entire world course company, for operating men and women.”
Adrian Gregory, SEVP, International Head of Fiscal Companies & Insurance policy, Atos, mentioned:
“We are specifically proud to have been awarded this agreement and share a prevalent desire to establish a definitely electronic Nest that will supply against the changing landscape and be a cornerstone of Nest’s foreseeable future achievements. This partnership is a definitely inspiring prospect, and by blending men and women, functions, procedures and technological know-how to supply a company with users at its coronary heart, our world-wide community of Atos electronic and enterprise transformation experts will aid our close collaboration with Nest to supply the subsequent chapter in its tale.”
Nest will now start a phased system to take care of the transition to the new agreement and be certain a secure and secure transfer of functions in 2023.
Notes to editors
Nest’s scheme administrator manages a variety of solutions which include enrolling users, gathering contributions, managing accounts and accessing discounts, employer participation, and passing money to the fund administrator.
Nest commenced preparing for the procurement of its new administration solutions in 2015 and launched its public tender in May 2019. Six bidders ended up shortlisted from a industry of twelve for competitive dialogue, based on evaluation of their financial strength, their earlier expertise in developing and running identical solutions, and in managing large scale transition and migrations. Shortlisted bidders ended up assessed by way of open dialogue in line with the next essential achievements elements that Nest identified:
— strengthening shopper outcomes: our vision is to support thousands and thousands delight in a far better retirement. Our new scheme administration solutions will have to concentration on how improvements in technological know-how and deep info analytics be certain a cohesive technique to ongoing improvement and excellence in shopper company. This is so we can support all our prospects to make the appropriate alternatives and push far better outcomes for their retirement,
— providing solutions regular with our values and abilities: Nest is underpinned by the values of transparency, relieve, empowerment and regard. We want our foreseeable future solutions to produce in alignment with these and do the job with a partner that understands “what can make Nest, Nest” and can offer knowledge that enhances the abilities that already sit within just our organisation,
— securing worth for funds for our prospects: we will need to scope our solutions to in shape the demands of our prospects and supply worth for funds more than the lifestyle of the solutions which include exit. We will have to operate a competitive and legally compliant procurement,
— enabling a economically sustainable Nest: we are in the long run funded by our users. Our new company will have to be delivered in an successful way which seeks to align our industrial interests, supports the extended-time period financial forecasts for the scheme and enables opportunities to manage and expand sustainable profits streams,
— managing our threats: the ongoing achievements of Nest will have to have rely on at its main. Our prospects will need to rely on that we can successfully glance just after their info and property. It is very important that we can take care of a smooth transition into our new scheme administration company and that when we are are living, that company is strong and secure.
Nest’s latest agreement runs till 2023 to be certain a smooth transition and ongoing company for users.
Nest was set up by the governing administration to be certain just about every United kingdom employer could present a office pension to their workforce. Because then, it’s grown to turn into the premier office pension scheme in the state by membership, with a lot more than 9.7million users. Just one in a few of the operating inhabitants is expected to have a Nest retirement pot by the late 2020s.
As a not-for-gain pension scheme, Nest was set up to provide its customers’ interests and aims to support thousands and thousands of men and women delight in a far better retirement. Nest’s users reward from an award-profitable investment decision system and one of the most diversified DC portfolios in the sector. By the close of the subsequent decade Nest is expected to have all over £100bn property below management.
Atos is a world-wide chief in electronic transformation with a hundred and ten,000 workforce and once-a-year profits of € twelve billion. European range one in cybersecurity, cloud and substantial general performance computing, the group supplies tailor-made close-to-close answers for all industries in seventy three nations around the world. A pioneer in decarbonization solutions and merchandise, Atos is committed to a secure and decarbonized electronic for its customers. Atos operates below the models Atos and Atos|Syntel. Atos is a SE (Societas Europaea), detailed on the CAC40 Paris inventory index.
The reason of Atos is to support style the foreseeable future of the facts house. Its knowledge and solutions help the development of know-how, instruction and investigate in a multicultural technique and lead to the development of scientific and technological excellence. Throughout the entire world, the group enables its prospects and workforce, and users of societies at large to are living, do the job and produce sustainably, in a harmless and secure facts house.
Atos will leverage the strategic capability and capability of its pensions and administration centre of excellence. The corporation provides a world-wide community of financial solutions digitalisation and enterprise transformation pros along with a rich pool of expertise as a consequence of operating with primary financial institutions in the United kingdom and in other nations around the world.
Press Make contact with:
Adam Fisher | [email protected] | +44 7989 145665