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

London (United kingdom), Paris (France), February 8, 2021

Nest has now introduced that its long term plan administrator will be world wide digital transformation agency Atos.

The new service, which will begin in 2023, will target on earning the most of advances in know-how and facts analytics to supply individualized and tailor-made providers to each individual of its associates.

Atos’s condition-of-the-art know-how and cloud hosting system will offer a scalable, agile and small-carbon solution for all processing and administrative IT, which can adapt to long term prerequisites.

Awarded next a competitive tender run in line with Public Contracts Laws 2015 the new contract will final for a bare minimum of 10 years with an optional extension period of up to 5 years and the selection of an added period of up to a few years for exit.

Otto Thoresen, Nest Corporation Chair, commented:

“Following a incredibly competitive procurement I am happy to affirm we have awarded the upcoming contract for our plan administration service to Atos. Our goal was to discover a provider that will assist our ambitions to keep on to increase the plan for an progressively digital environment, increase our service to buyers and harness advances in know-how to more enhance effectiveness while minimizing expenses.

“We are self-assured the new contract will supply significant gains to our buyers whilst enabling us to continue to keep expenses small and ensuring our service carries on to be strong and safe.

“We are now targeted on getting ready for a safe and stable transition of providers in 2023 and ensuring this course of action operates effortlessly for Nest’s buyers.”

Commenting on the announcement, Nest Chief Executive Helen Dean explained,

“I am hunting forward to operating with our new husband or wife for the upcoming chapter in Nest’s tale. Atos will assistance us to keep on our achievement and will assistance supply significant enhancements for our buyers in the coming years.

“While today’s announcement marks the upcoming phase in Nest’s evolution, I am so happy of the place we’ve occur from. Over thirteen years, we have built a digital pension plan from scratch which has develop into house to tens of millions of savers and the provider of choice for hundreds of countless numbers of employers.

“We’re hunting forward to developing on this strong basis to get Nest to the upcoming level, advancing our digital plan and continuing to offer a environment class service, for operating people today.”

Adrian Gregory, SEVP, World wide Head of Money Products and services & Insurance policies, Atos, explained:

“We are specially happy to have been awarded this contract and share a widespread need to construct a genuinely digital Nest that will supply towards the modifying landscape and be a cornerstone of Nest’s long term achievement. This partnership is a genuinely inspiring prospect, and by mixing people today, functions, procedures and know-how to supply a service with associates at its coronary heart, our world wide community of Atos digital and business enterprise transformation professionals will aid our near collaboration with Nest to supply the upcoming chapter in its tale.”

Nest will now begin a phased method to manage the transition to the new contract and make certain a stable and safe transfer of functions in 2023.

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Notes to editors

Nest’s plan administrator manages a range of providers including enrolling associates, collecting contributions, handling accounts and accessing discounts, employer participation, and passing money to the fund administrator.

Nest started arranging for the procurement of its new administration providers in 2015 and introduced its community tender in May 2019. 6 bidders were being shortlisted from a subject of twelve for competitive dialogue, based on analysis of their economical power, their preceding expertise in creating and running very similar providers, and in handling significant scale transition and migrations. Shortlisted bidders were being assessed by means of open dialogue in line with the next significant achievement aspects that Nest recognized:

— improving upon customer results: our eyesight is to assistance tens of millions appreciate a improved retirement. Our new plan administration providers have to target on how advances in know-how and deep facts analytics make certain a cohesive strategy to constant advancement and excellence in customer service. This is so we can assistance all our buyers to make the correct decisions and push improved results for their retirement,

— providing providers dependable with our values and abilities: Nest is underpinned by the values of transparency, simplicity, empowerment and respect. We want our long term providers to produce in alignment with these and perform with a husband or wife that understands “what helps make Nest, Nest” and can offer know-how that enhances the abilities that presently sit within our organisation,

— securing value for funds for our buyers: we will need to scope our providers to in good shape the desires of our buyers and supply value for funds about the existence of the providers including exit. We have to run a competitive and lawfully compliant procurement,

— enabling a economically sustainable Nest: we are finally funded by our associates. Our new service have to be delivered in an successful way which seeks to align our business pursuits, supports the long-phrase economical forecasts for the plan and permits prospects to keep and expand sustainable earnings streams,

— handling our challenges: the ongoing achievement of Nest have to have have confidence in at its core. Our buyers will need to have confidence in that we can proficiently search soon after their facts and property. It is essential that we can manage a smooth transition into our new plan administration service and that at the time we are dwell, that service is strong and safe.

Nest’s present contract operates right until 2023 to make certain a smooth transition and constant service for associates.

About Nest

Nest was established up by the governing administration to make certain just about every United kingdom employer could offer you a offi
ce pension to their employees. Since then, it’s grown to develop into the major office pension plan in the state by membership, with additional than 9.7million associates. A single in a few of the operating populace is anticipated to have a Nest retirement pot by the late 2020s.

As a not-for-profit pension plan, Nest was established up to serve its customers’ pursuits and aims to assistance tens of millions of people today appreciate a improved retirement. Nest’s associates reward from an award-profitable expenditure method and just one of the most diversified DC portfolios in the market. By the conclusion of the upcoming decade Nest is anticipated to have all around £100bn property under administration.

About Atos

Atos is a world wide chief in digital transformation with 110,000 employees and once-a-year earnings of € twelve billion. European amount just one in cybersecurity, cloud and significant functionality computing, the team offers tailor-made conclusion-to-conclusion remedies for all industries in seventy three nations around the world. A pioneer in decarbonization providers and merchandise, Atos is fully commited to a safe and decarbonized digital for its shoppers. Atos operates under the brands Atos and Atos|Syntel. Atos is a SE (Societas Europaea), listed on the CAC40 Paris inventory index.

The intent of Atos is to assistance structure the long term of the data room. Its know-how and providers assist the advancement of know-how, education and analysis in a multicultural strategy and lead to the advancement of scientific and technological excellence. Across the environment, the team permits its buyers and employees, and associates of societies at significant to dwell, perform and produce sustainably, in a risk-free and safe data room.

Atos will leverage the strategic capability and capacity of its pensions and administration centre of excellence. The organization delivers a world wide community of economical providers digitalisation and business enterprise transformation gurus alongside a loaded pool of expertise as a consequence of operating with primary economical institutions in the United kingdom and in other nations around the world.

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