TCS to administer teacher’s pension scheme in England and Wales; bags 10-year contract

5 Jun 2023 , 02:08 PM

Tata Consultancy Services Limited announced that the IT giant has been selected by the Department for Education (DfE) to manage and enhance customer experiences for the Teachers’ Pension Scheme in England and Wales.

The Teachers’ Pension Scheme, which boasts a membership of over 2 million individuals, stands as the second-largest pension scheme in the public sector in the UK. 

TCS has received a 10-year contract to manage scheme administration services through the use of a future-ready, omnichannel, digitally enabled platform powered by TCS BaNCS.

This will enable precise management of pension records, timely payment of benefits, efficient financial management of the scheme, proactive engagement with members, and convenient access to information.

TCS will provide a digital-first, self-service pension experience, giving scheme employers and members access to their account information at any time and through any channel, as well as personalized insights to aid them in better understanding their pension plan and empower them to make informed decisions.

TCS intends to bolster its already significant presence in the UK life and pensions industry as part of its partnership with the DfE by establishing a service hub in Darlington.

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