London (Uk), Paris (France), February eight, 2021
Nest has currently declared that its foreseeable future plan administrator will be world-wide digital transformation firm Atos.
The new service, which will begin in 2023, will target on earning the most of developments in technological innovation and information analytics to supply personalized and tailored companies to every of its associates.
Atos’s state-of-the-artwork technological innovation and cloud internet hosting platform will deliver a scalable, agile and low-carbon option for all processing and administrative IT, which can adapt to foreseeable future necessities.
Awarded pursuing a aggressive tender run in line with Public Contracts Rules 2015 the new agreement will previous for a minimal of 10 years with an optional extension period of time of up to 5 years and the selection of an further period of time of up to 3 years for exit.
Otto Thoresen, Nest Company Chair, commented:
“Following a extremely aggressive procurement I am delighted to validate we have awarded the following agreement for our plan administration service to Atos. Our intention was to obtain a supplier that will aid our ambitions to proceed to develop the plan for an significantly digital earth, enhance our service to clients and harness developments in technological innovation to further more enhance effectiveness even though reducing costs.
“We are self-assured the new agreement will supply considerable advantages to our clients while enabling us to keep costs low and guaranteeing our service carries on to be strong and protected.
“We are now targeted on getting ready for a protected and stable transition of companies in 2023 and guaranteeing this method operates efficiently for Nest’s clients.”
Commenting on the announcement, Nest Chief Executive Helen Dean mentioned,
“I am hunting ahead to doing the job with our new associate for the following chapter in Nest’s story. Atos will support us to proceed our achievement and will support supply considerable improvements for our clients in the coming years.
“While today’s announcement marks the following stage in Nest’s evolution, I am so very pleased of exactly where we have come from. Over 13 years, we have crafted a digital pension plan from scratch which has turn out to be house to millions of savers and the service provider of alternative for hundreds of hundreds of employers.
“We’re hunting ahead to making on this powerful basis to acquire Nest to the following level, advancing our digital plan and continuing to deliver a earth course service, for doing the job folks.”
Adrian Gregory, SEVP, World-wide Head of Economical Expert services & Insurance policy, Atos, mentioned:
“We are specifically very pleased to have been awarded this agreement and share a prevalent drive to develop a genuinely digital Nest that will supply in opposition to the shifting landscape and be a cornerstone of Nest’s foreseeable future achievement. This partnership is a genuinely inspiring prospect, and by mixing folks, operations, processes and technological innovation to supply a service with associates at its heart, our world-wide community of Atos digital and company transformation professionals will assist our close collaboration with Nest to supply the following chapter in its story.”
Nest will now begin a phased plan to take care of the transition to the new agreement and be certain a stable and protected transfer of operations in 2023.
Notes to editors
Nest’s plan administrator manages a selection of companies such as enrolling associates, collecting contributions, controlling accounts and accessing cost savings, employer participation, and passing resources to the fund administrator.
Nest commenced arranging for the procurement of its new administration companies in 2015 and released its community tender in Could 2019. Six bidders were shortlisted from a field of twelve for aggressive dialogue, dependent on analysis of their money energy, their former expertise in establishing and managing identical companies, and in controlling significant scale transition and migrations. Shortlisted bidders were assessed by using open dialogue in line with the pursuing significant achievement elements that Nest determined:
— improving purchaser outcomes: our vision is to support millions appreciate a superior retirement. Our new plan administration companies should target on how developments in technological innovation and deep information analytics be certain a cohesive technique to continuous advancement and excellence in purchaser service. This is so we can support all our clients to make the right alternatives and travel superior outcomes for their retirement,
— providing companies consistent with our values and capabilities: Nest is underpinned by the values of transparency, ease, empowerment and regard. We want our foreseeable future companies to develop in alignment with these and work with a associate that understands “what makes Nest, Nest” and can deliver expertise that complements the capabilities that previously sit within our organisation,
— securing value for cash for our clients: we need to scope our companies to fit the requirements of our clients and supply value for cash about the everyday living of the companies such as exit. We should run a aggressive and legally compliant procurement,
— enabling a monetarily sustainable Nest: we are eventually funded by our associates. Our new service should be shipped in an successful way which seeks to align our commercial passions, supports the very long-term money forecasts for the plan and allows possibilities to maintain and grow sustainable income streams,
— controlling our hazards: the continued achievement of Nest should have rely on at its main. Our clients need to rely on that we can successfully search just after their information and assets. It is very important that we can take care of a clean transition into our new plan administration service and that when we are dwell, that service is strong and protected.
Nest’s latest agreement runs until 2023 to be certain a clean transition and continuous service for associates.
Nest was established up by the govt to be c
ertain every Uk employer could present a office pension to their employees. Considering the fact that then, it is grown to turn out to be the largest office pension plan in the region by membership, with more than nine.7million associates. One in 3 of the doing the job population is anticipated 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 support millions of folks appreciate a superior retirement. Nest’s associates profit from an award-profitable investment tactic and a person of the most diversified DC portfolios in the industry. By the conclusion of the following ten years Nest is anticipated to have all-around £100bn assets less than management.
Atos is a world-wide chief in digital transformation with one hundred ten,000 employees and annual income of € 12 billion. European selection a person in cybersecurity, cloud and significant functionality computing, the group provides tailored conclusion-to-conclusion options for all industries in 73 nations around the world. A pioneer in decarbonization companies and merchandise, Atos is committed to a protected and decarbonized digital for its clientele. Atos operates less than the brand names Atos and Atos|Syntel. Atos is a SE (Societas Europaea), stated on the CAC40 Paris inventory index.
The intent of Atos is to support structure the foreseeable future of the information and facts place. Its expertise and companies aid the improvement of expertise, training and exploration in a multicultural technique and contribute to the improvement of scientific and technological excellence. Across the earth, the group allows its clients and employees, and associates of societies at significant to dwell, work and develop sustainably, in a safe and sound and protected information and facts place.
Atos will leverage the strategic capacity and ability of its pensions and administration centre of excellence. The business delivers a world-wide community of money companies digitalisation and company transformation gurus alongside a prosperous pool of expertise as a final result of doing the job with major money establishments in the Uk and in other nations around the world.
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