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Helen Dean, CEO of NEST, discusses why their partnership with TCS to deliver its auto enrollment pension scheme has been so successful. She affirms that the quality of the team that engaged with NEST brought a sense of ownership to the exercise.
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“Partnerships are about people and one thing that really strikes me about TCS is the quality of its people. They care about NEST passionately. We have a saying here that says they're more NEST than NEST. TCS people feel like they are delivering NEST for us - in fact they are NEST as far as our customers are concerned.”
Helen Dean, CEO – NEST.
NEST (National Employment Savings Trust) was created under the UK Pensions Act in 2008 to facilitate the government’s automatic enrollment program, encouraging workers to save for their retirement.
Since October 2012, employers have been able to automatically enroll their workers into workplace pensions. NEST has a public service obligation (PSO) to accept UK employers of any type or size.
Speakers
Helen Dean – Chief Executive Officer, NEST UK
Key business milestones met by TCS’ partnership with NEST are:
The NEST scheme was launched in just 16 months from its contract award and 15 months ahead of the onset of the first group of employers needing to meet their new auto enrollment duties.
NEST have registered a large volume of members in a short duration and is now one of the largest workplace pension schemes in the UK
1 million members in April 2014
2 million members in March 2015
3 million members in March 2016
In May 2016 NEST’s 100,000th employer signed up to the scheme.
In October 2016 NEST’s 200,000th employer signed up to the scheme.
Helen discusses NEST’s requirements for a strategic transformation partner, one who could offer end to end services for administration services to include solution, IT infrastructure, IT operations, Finance & Accounting, Business Process Services, through to customer management. TCS’ experience, scale, breadth of expertise and ability to deliver certainty proved to be an essential component for NEST in meeting its public service obligation (PSO). Helen adds, "We have a saying here that says they're more NEST than NEST. TCS people feel like they are delivering NEST for us - in fact they are NEST as far as our customers are concerned. They have a great relationship with us so we have a one on one relationship with individuals’ right across the business here in the UK and in India."
Helen shares an instance where TCS’ suggestion for NEST to integrate Webchat in their systems led them to becoming UK's first pension provider to bring in Webchat. She says, “We'll continue to transform pensions and we'll continue working really hard in partnership to make sure that the NEST experience is the best possible experience that a member could have.”
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