TCS bags £234M Teachers' Pensions deal as Capita set to end 29-year run
On the back of a £1.5 billion contract win, Tata Consultancy Services is at it again, bagging a £234 million deal to administer the UK's Teachers' Pension Scheme .
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,TCS won a £1.5 billion deal with the UK's National Employment Savings Trust , an occupational pensions scheme, without outside competition, after the government decided to part ways with French supplier Atos after just 18 months.
The Teachers' Pension Scheme has about two million members and collects contributions from more than 11,200 employers, while paying out to over 700,000 pensioners and beneficiaries. It is the second largest pension scheme in the UK after the NHS.
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