Nest selects Atos to digitise its pension scheme operations

15 February 2021 Consultancy.uk 2 min. read
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Following a competitive tender process, Nest has selected Atos as a administrator to its future scheme fund. Atos will provide an agile cloud hosting platform for the fund.

Nest was set up by the UK Government to ensure every UK employer could offer a workplace pension to their employees. It is now the largest workplace pension scheme in the country by membership, with more than 9.7 million members and growing. By the end of the present decade, one-in-three working people is expected to have a Nest retirement pot, while the not-for-profit will have around £100 billion assets under management.

As Nest looks to digitalise its offering to members, it has announced a new future digital future-focused scheme. Starting in 2023, this service will focus on making the most of advances in technology and data analytics to deliver personalised and tailored services to each of its members.

Nest selects Atos to digitise its pension scheme operationsFollowing a competitive tender process, IT specialist consultancy Atos has been handed a contract to administrate the new scheme. The new contract will last for a minimum of ten years with an optional extension period of up to five years and the option of an additional period of up to three years for exit. Over the duration of this period, Atos’s technology and cloud hosting platform will provide a scalable, agile and low-carbon solution for all processing and administrative IT, which can adapt to future requirements.

Otto Thoresen, Nest Corporation Chair, commented, “I am pleased to confirm we have awarded the next contract for our scheme administration service to Atos… We are confident the new contract will deliver significant benefits to our customers whilst allowing us to keep costs low and ensuring our service continues to be robust and secure. We are now focused on preparing for a secure and stable transition of services in 2023 and ensuring this process works smoothly for Nest’s customers.”

As Nest looks to enter a new stage of its evolution, it sought a supplier that would support its ambitions to continue to expand the scheme for an increasingly digital world, improve our service to customers and harness advances in technology to further increase efficiency while reducing costs. With Atos, Nest hopes to take its project to the next level, advancing its digital scheme and providing “a world class service for working people.”

Speaking on the news, Atos’ Global Head of Financial Services & Insurance, Adrian Gregory, said, “We are especially proud to have been awarded this contract and share a common desire to build a truly digital Nest that will deliver against the changing landscape and be a cornerstone of Nest’s future success. This partnership is a truly inspiring prospect, and by blending people, operations, processes and technology to deliver a service with members at its heart, our global network of Atos digital and business transformation specialists will aid our close collaboration with Nest to deliver the next chapter in its story.”