Searches and Hires

NEST scouting for administrative services provider

National Employment Savings Trust, London, seeks an administrative services provider, a spokesman said.

NEST's contract with its current provider, Tata Consultancy Services, expires in 2023. TCS is eligible to rebid.

Having started auto enrollment in 2012, the pension plan is looking for ways to better serve its participants, NEST CEO Helen Dean said in a news release accompanying the announcement.

"The savings sector, technology and customer expectations have evolved significantly over the past decade and this procurement presents an exciting opportunity for NEST to set the course for our service for the next decade," she said.

NEST has £6 billion ($7.8 billion) in assets under management.

The selected administrator will enroll participants, collect contributions, manage accounts, and access savings and pass funds to the fund administrator. "We're asking bidders to show how they can deliver the above using the latest advances in technology and achieving value for money," a spokesman said.

Under U.K. legislation, NEST needs to start the selection process ahead of the start date in 2023.

The notice is posted on European procurement website Tenders Electronic Daily.