UK - State Street Corporation has been appointed as fund administrator for the National Employment Savings Trust.
State Street Corporation will provide end-to-end fund administration and custody services to NEST.
The ten year contract comes in two stages - with the first running until late November.
NEST Corporation said this would ensure it "joins up" with the decision to proceed with the scheme administration contract with Tata Consultancy Services.
It said: "NEST Corporation is confident TCS is the right supplier to deliver scheme administration services for NEST. However the NEST trustees, in partnership with government, will make the formal decision in November."
The national pension scheme for low earners also confirmed it would start its investment manager selection process this week.
It said it was preparing to advertise for fund managers to run a series of mandates.
It confirmed the adverts should appear in the Official Journal of the European Union later this week.
[asset_library_tag 2072,These include] a Global Equities (Developed) Fund; a UK Fixed Interest Fund; an Index Linked Gilts Indexed Fund; a Cash Fund; and a Diversified Beta Fund.
Commenting on the State Street appointment, NEST Corporation chief executive Tim Jones said: "We are delighted to have this contract in place. It was a strong competition, and we are now well placed to deliver a first-rate service at low cost to members. State Street Corporation has 30 years of experience in the UK and an impressive track record in fund administration."
State Street Corporation vice-chairman Joe Antonellis added: "We look forward to supporting all aspects of their investment servicing requirements as they continue to shape the future structure of DC pensions in both the UK and elsewhere."
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