Nest has announced that Tata Consultancy Services (TCS) will continue as its scheme administration service provider.
The announcement comes after Nest ended its £1.5bn deal with IT services supplier Atos earlier this year just two years into a contract that was due to last up to 18 years.
Following the termination of this deal with Atos, Nest said it would continue to work with TCS, its previous provider, while it reviewed its longer-term requirements and plans.
In a statement yesterday, Nest said it had signed a new contract with TCS - one that would last for ten years with an optional extension period and would focus on delivering a personalised service for the pension scheme's 12 million members.
It said Nest and TCS would use data analytics and recent technological advances to deliver "seamless, self-directed, and consistent experiences" to ensure "members and employers alike can access the right information, at the right time, in the way that suits them best".
Nest chief customer officer Gavin Perera-Betts explained: "I'm looking forward to continuing our journey with TCS and exploring the opportunities ahead of us.
"We have a strong foundation after many years working together and they've proven their ability to deliver successfully for a scheme the size and complexity of Nest. This puts us in an excellent position to further advance our operations and build a truly digital offering that delivers a superior customer experience long into the future."
He added: "The interests of our members are always our top priority and drive every decision we make and we're rightly ambitious about what we can achieve for them. I'm confident our partnership with TCS will enable us to develop our world class service to further support millions to enjoy a better retirement."
TCS president of banking, financial services and insurance (BFSI) products & platforms Vivekanand Ramgopal said: "The purpose-driven partnership between Nest and TCS resulted in an immensely successful pension plan for the UK workforce, that is now a global benchmark on how an innovative, user-friendly, auto enrolment pension scheme should be run.
"We are delighted to further expand this long-standing partnership with Nest and support them in pushing the boundaries in offering compelling omnichannel member experiences to the new generation of workers entering the workplace. We are looking forward to leveraging our contextual knowledge, technology expertise and proven platform to help Nest realise our shared vision for the future."
See also:
Nest and Atos end admin deal two years into 18-year, £1.5bn contract
