Current suppliers

NEST works alongside global leaders

NEST has brought together global leaders in their fields to provide services. This means we have the right infrastructure and processes in place to ensure NEST works well for employers and members.

All our contracts are awarded following fair and open competition, and in accordance with European Union procurement processes as necessary.

Scheme administration

Scheme administration for NEST is delivered by Tata Consultancy Services (TCS).

TCS has an excellent track record in pension administration and IT. It has more than 30 years’ experience in the UK insurance sector with 90 insurance clients including the top 7 UK insurers. Its UK subsidiary, Diligenta, provides services to the UK life and pensions market and administers more than 3.5 million policies.

TCS signed the scheme administration contract in March 2010. The contract is for 10 years, with possible extensions of up to five years.

Fund administration

NEST’s fund administration partner is State Street Corporation.

State Street Corporation operates in 25 countries around the world.

The fund administration contract was signed in November 2010 for 10 years, with a possible extension of up to five years.

Retirement Panel

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.