London (British isles), Paris (France), February eight, 2021
Nest has right now introduced that its upcoming plan administrator will be international digital transformation company Atos.
The new provider, which will start in 2023, will target on building the most of advancements in technological know-how and knowledge analytics to produce personalized and personalized companies to each of its users.
Atos’s point out-of-the-artwork technological know-how and cloud hosting platform will supply a scalable, agile and low-carbon answer for all processing and administrative IT, which can adapt to upcoming demands.
Awarded next a competitive tender run in line with General public Contracts Laws 2015 the new agreement will last for a least of 10 several years with an optional extension time period of up to 5 several years and the choice of an additional time period of up to three several years for exit.
Otto Thoresen, Nest Corporation Chair, commented:
“Following a extremely competitive procurement I am pleased to affirm we have awarded the future agreement for our plan administration provider to Atos. Our goal was to locate a provider that will guidance our ambitions to continue to expand the plan for an more and more digital earth, enhance our provider to customers and harness advancements in technological know-how to even further maximize performance while minimizing expenditures.
“We are self-assured the new agreement will produce important rewards to our customers even though allowing us to retain expenditures low and making certain our provider continues to be strong and safe.
“We are now targeted on planning for a safe and steady changeover of companies in 2023 and making certain this course of action is effective smoothly for Nest’s customers.”
Commenting on the announcement, Nest Main Executive Helen Dean said,
“I am wanting ahead to doing the job with our new lover for the future chapter in Nest’s story. Atos will aid us to continue our achievements and will aid produce important improvements for our customers in the coming several years.
“While today’s announcement marks the future stage in Nest’s evolution, I am so proud of the place we have occur from. More than thirteen several years, we have created a digital pension plan from scratch which has grow to be property to millions of savers and the supplier of alternative for hundreds of hundreds of businesses.
“We’re wanting ahead to setting up on this robust foundation to just take Nest to the future degree, advancing our digital plan and continuing to supply a earth course provider, for doing the job people today.”
Adrian Gregory, SEVP, International Head of Monetary Services & Insurance, Atos, said:
“We are primarily proud to have been awarded this agreement and share a common desire to develop a truly digital Nest that will produce against the transforming landscape and be a cornerstone of Nest’s upcoming achievements. This partnership is a truly inspiring prospect, and by blending people today, operations, processes and technological know-how to produce a provider with users at its heart, our international network of Atos digital and organization transformation professionals will support our close collaboration with Nest to produce the future chapter in its story.”
Nest will now start a phased method to handle the changeover to the new agreement and assure a steady and safe transfer of operations in 2023.
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Notes to editors
Nest’s plan administrator manages a selection of companies like enrolling users, amassing contributions, controlling accounts and accessing discounts, employer participation, and passing cash to the fund administrator.
Nest started arranging for the procurement of its new administration companies in 2015 and introduced its public tender in Could 2019. 6 bidders were being shortlisted from a field of twelve for competitive dialogue, based on analysis of their financial strength, their preceding encounter in setting up and operating comparable companies, and in controlling massive scale changeover and migrations. Shortlisted bidders were being assessed by way of open dialogue in line with the next significant achievements variables that Nest recognized:
— improving upon buyer outcomes: our vision is to aid millions appreciate a far better retirement. Our new plan administration companies should target on how advancements in technological know-how and deep knowledge analytics assure a cohesive approach to continuous enhancement and excellence in buyer provider. This is so we can aid all our customers to make the appropriate possibilities and drive far better outcomes for their retirement,
— providing companies constant with our values and abilities: Nest is underpinned by the values of transparency, ease, empowerment and regard. We want our upcoming companies to create in alignment with these and get the job done with a lover that understands “what tends to make Nest, Nest” and can supply expertise that enhances the abilities that presently sit within our organisation,
— securing price for income for our customers: we will need to scope our companies to in shape the wants of our customers and produce price for income over the lifetime of the companies like exit. We should run a competitive and lawfully compliant procurement,
— enabling a monetarily sustainable Nest: we are finally funded by our users. Our new provider should be sent in an productive way which seeks to align our industrial interests, supports the extended-expression financial forecasts for the plan and permits options to preserve and improve sustainable revenue streams,
— controlling our challenges: the ongoing achievements of Nest should have rely on at its core. Our customers will need to rely on that we can properly appear just after their knowledge and assets. It is essential that we can handle a clean changeover into our new plan administration provider and that as soon as we are are living, that provider is strong and safe.
Nest’s present-day agreement runs until finally 2023 to assure a clean changeover and continuous provider for users.
About Nest
Nest was set up by the government to assure every British isles employer could provide a place
of work pension to their staff. Since then, it’s developed to grow to be the greatest place of work pension plan in the place by membership, with much more than 9.7million users. A person in three of the doing the job inhabitants is envisioned to have a Nest retirement pot by the late 2020s.
As a not-for-profit pension plan, Nest was set up to provide its customers’ interests and aims to aid millions of people today appreciate a far better retirement. Nest’s users gain from an award-winning expenditure technique and one of the most diversified DC portfolios in the marketplace. By the close of the future ten years Nest is envisioned to have all around £100bn assets less than administration.
About Atos
Atos is a international chief in digital transformation with 110,000 staff and once-a-year revenue of € twelve billion. European range one in cybersecurity, cloud and large performance computing, the team gives personalized close-to-close answers for all industries in seventy three nations. A pioneer in decarbonization companies and products and solutions, Atos is dedicated to a safe and decarbonized digital for its customers. Atos operates less than the models Atos and Atos|Syntel. Atos is a SE (Societas Europaea), listed on the CAC40 Paris stock index.
The purpose of Atos is to aid layout the upcoming of the information place. Its expertise and companies guidance the progress of expertise, education and investigate in a multicultural approach and lead to the progress of scientific and technological excellence. Across the earth, the team permits its customers and staff, and users of societies at massive to are living, get the job done and create sustainably, in a risk-free and safe information place.
Atos will leverage the strategic functionality and potential of its pensions and administration centre of excellence. The organization brings a international network of financial companies digitalisation and organization transformation specialists along with a prosperous pool of encounter as a final result of doing the job with major financial institutions in the British isles and in other nations.
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