The Personal Accounts Delivery Authority (PADA) has now confirmed that Tata Consultancy Services (TCS) will administer the National Employment Savings Trust (NEST).

The contract is divided into two stages and lasts for ten years, with the option to extend it for up to five more years.

Tim Jones, Chief Executive of PADA, said: “As we proceeded through our detailed procurement process TCS emerged as an extremely strong bidder, both in terms of their capabilities in pension administration and in their ability to provide value for money for Nest members. Signing the contract early, in stages, allows us to get on with our work to deliver NEST."

PDF download: NEST information from PADA