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Contracts awarded
Scheme Administration contract with TCS
In March 2010 PADA confirmed that Tata Consultancy Services (TCS) was the successful bidder for NEST scheme administration services.
The contract is divided into two stages and runs for 10 years, with a possible extension for up to a further five years.
Find out more details about TCS in our TCS factsheet (PDF, 76KB)
Fund administration services contract with State Street Corporation
In October 2010 NEST confirmed that State Street Corporation was the successful bidder for NEST fund administration services.
The contract runs for 10 years, with a possible extension for up to a further five years.
Find out more details about State Street Corporation in our State Street factsheet (PDF, 64KB)
Retirement Panel providers
NEST announced its panel of retirement income providers in June 2011.
NEST's members can choose to buy a retirement income from the panel or shop around on the open market.
The providers on the panel are:
- Canada Life, providing both conventional and enhanced retirement income products
- Just Retirement, providing enhanced retirement income products
- Legal & General, providing both conventional and enhanced retirement income products
- Partnership, providing enhanced retirement income products
- Reliance Mutual, providing enhanced retirement income products specifically for those who smoke.
The contracts run for 10 years.
Find out more about our panellists at our Retirement Panel page