NS&I’s transformation programme

National Savings and Investments (NS&I), which borrows on behalf of government from retail investors via products such as premium bonds, has around 25m savers with over £230bn invested. It is undertaking a business transformation programme to replace Atos as the single supplier of its back-office and customer-facing functions with a multi-supplier model. Launched in 2019, … Show more

National Savings and Investments (NS&I), which borrows on behalf of government from retail investors via products such as premium bonds, has around 25m savers with over £230bn invested. It is undertaking a business transformation programme to replace Atos as the single supplier of its back-office and customer-facing functions with a multi-supplier model. Launched in 2019, the programme’s intention was to reduce costs, address major risks around legacy technology and enable NS&I to be more flexible in the way it responds to customer demand. When the PAC reported on the programme in March 2024 , it found a project that had already been significantly delayed, owing to bidders for one of the contracts submitting proposals that did not meet NS&I’s requirements. Its report raised concerns that significant problems with procurement on the programme could leave limited flexibility or room for further delays. The PAC asked for regular progress updates on the programme, with a January 2025 update from NS&I’s Chief Executive outlining a revised approach to the programme. The National Audit Office (NAO) reports on the programme in 2025 , with a study exploring progress in NS&I’s transformation and how the programme has been managed to date. Following the NAO’s report, the PAC will take evidence from NS&I and senior HM Treasury officials, with likely topics for scrutiny including challenges with legacy IT and procurement, and how the programme’s intended benefits will be realised. If you have evidence on these issues, please submit here by 23:59 on Thursday 4 December 2025. Please look at the requirements for written evidence submissions and note that the Committee cannot accept material as evidence that is published elsewhere. You can request anonymity or confidentiality when you send evidence, but it is the Committee which decides what information to publish and how. It may treat submissions confidentially, even where you have not requested this. Please note that the Committee’s inquiry cannot assist with individual cases. If you need help with an individual problem you are having, you may wish to read the information on Parliament’s website about who you can contact with different issues . Show less