Last checked at 20 Nov 2023 07:00
Capita Plc - Capita selected to administer the Civil Service Pension SchemeCapita Plc - Capita selected to administer the Civil Service Pension Scheme
PR Newswire
LONDON, United Kingdom, November 20
20 November 2023
Capita selected to administer the Civil Service Pension Scheme
Capita plc (‘Capita’) today announces it has secured a new contract to manage the Civil Service Pension Scheme (CSPS) for the Cabinet Office from September 2025 in a deal worth £239m over 10 years.
The CSPS is one of the largest public sector pension schemes in the UK.
Under the new contract, Capita will modernise pensions administration systems through enhanced system design and digital innovation.
We will integrate generative artificial intelligence (GenAI) technology to transform the pension experience for CSPS members, providing them with personalised and engaging digital channels to better plan and manage their retirement savings.
Enhancing the end-to-end customer experience will create more intuitive and innovative interactions for both our client and pension members, while providing the insights to support a data driven approach for employers within the scheme.
The contract builds on Capita’s strong track record of successful delivery as a strategic supplier to UK Government and the company’s depth of experience operating in the regulated pensions market.
Jon Lewis, Chief Executive Officer, Capita, said: “We are exceptionally proud to have been selected to administer the CSPS.
“This award is testament to the commitment of our colleagues to design innovative solutions and deliver exceptional customer experience.
“We are committed to offering seamless, tailored experiences and with generative AI we can deliver new levels of personalisation for all CSPS members.”
Capita will be responsible for delivering employer and member services; pensions payroll; administration services relating to the Civil Service Compensation Scheme; Civil Service Injury Benefit Scheme; and related finance and accounting services.
Notes to editors:
The total IFRS 15 transaction price (order book) is £239m.
For more information, please contact:
Investor enquiries
Helen Parris Stephanie Little
Director of Investor Relations Investor Relations Manager
Tel: 07720 169269 Tel: 07541 622838
Email: IRteam@capita.co.uk Email: IRteam@capita.co.uk
Media enquiriesCapita external communicationsTel: 0207 654 2399Email: media@capita.co.uk
About Capita plc
Capita is a leading provider of business process services, driven by data, technology and people. Every day our 43,000 colleagues help millions of people, by delivering innovative, digitally enabled solutions to transform and simplify the connections between government and citizens, businesses and customers. We partner with our clients and provide the insight and technologies that give time back, allowing them to focus on what they do best and making people’s lives easier and simpler. We operate across two divisions – Capita Public Service and Capita Experience – in the UK, Europe, India and South Africa.
