TCS bags £234M Teachers' Pensions deal as Capita set to end 29-year run27 Jun 2023 17:06
27th June 2023
TCS bags £234M Teachers' Pensions deal as Capita set to end 29-year run.
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TCS bags £234M Teachers' Pensions deal as Capita set to end 29-year run
Indian firm nabs 10-year contract, taking pensions wins to £1.73B
iconLindsay Clark
Tue 27 Jun 2023 // 08:38 UTC
On the back of a £1.5 billion contract win, Tata Consultancy Services is at it again, bagging a £234 million ($297 million) deal to administer the UK's Teachers' Pension Scheme (TPS).
The scheme, run by the Department for Education on behalf of public and private school teachers and their employers in the UK, currently relies on Capita, which won a four-year, £60 million ($76 million) extension to run the scheme until 2025 on a contract it first signed in 1996.
Last week, TCS won a £1.5 billion ($1.9 billion) deal with the UK's National Employment Savings Trust (Nest), an occupational pensions scheme, without outside competition, after the government decided to part ways with French supplier Atos after just 18 months.
https://www.theregister.com/2023/06/27/tcs_teachers_pensions_deal/