Delivering NEST

NEST partners with global leaders

NEST is a brand new pension scheme and we work with a range of global leaders to bring their experience to every stage of running the scheme.

Scheme administration

NEST’s scheme administration is delivered by Tata Consultancy Services (TCS), part of the Tata Group and a top ten global IT services, business solutions and outsourcing company.

TCS manages:

• enrolling members
• collecting contributions
• managing accounts and accessing savings
• employer participation
• passing funds to the fund administrator

TCS employs 160,000 employees in 42 countries around the world, with more than 60 sites in the UK.

It has more than 30 years experience in the UK insurance sector with 90 insurance clients including the top seven UK insurers.

Its UK subsidiary, Diligenta, provides services to the UK life and pensions market and administers more than 3.5 million policies.

Fund administration

NEST's fund administration partner is State Street Corporation, a financial services company operating in 25 countries.

State Street Corporation provides fund administration services to more than 90 UK pension fund clients and administers more than 1,000 pension funds worldwide.

NEST's in-house investment team works closely with TCS and State Street Corporation to enable us to implement our investment strategy effectively.

Fund management

The first investment mandates have been awarded as follows:

• Passive Global Equities awarded to UBS Global Asset Management
• Passive UK Gilts awarded to State Street Global Advisors
• Passive UK Index Linked Gilts awarded to State Street Global Advisors
• Sterling Liquidity awarded to BlackRock
• Diversified Beta awarded to BlackRock
• Global Ethical Equities awarded to F&C Investments
• Sharia-compliant Global Equities awarded to HSBC Global Asset Management
• Sterling Bonds awarded to Royal London Asset Management

Retirement Panel

Our research suggests that having a panel of selected annuity providers would be helpful to members when they come to take their money out of NEST.

NEST announced its panel of retirement income providers in June 2011.