TCS Bags 10-Year Mandate For UK's Second-Largest Pension Scheme, To establish a New Service Hub By CIOTechOutlook Team

TCS Bags 10-Year Mandate For UK's Second-Largest Pension Scheme, To establish a New Service Hub

CIOTechOutlook Team | Monday, 05 June 2023, 08:42 IST

The English Department for Education (DfE) has given Tata Consultancy Services (TCS) a 10-year contract to manage the Teachers' Pension Scheme in England and Wales and improve customer experiences. Finances for the deal were not made public.

With more than 2 million participants, the Teachers' Pension Scheme ranks second among public sector pension plans in the UK. A contract has been given to TCS to use TCS BaNCS to operate the scheme administration services. By building a service hub in Darlington, TCS intends to increase its existing sizable footprint in the UK life and pensions sector as part of the relationship with DfE.

“We are delighted to partner with the Department for Education to digitally transform the administration of the Teachers’ Pensions Scheme and deliver the best-administered UK public sector pensions scheme. The resulting service will be highly agile and responsive to the needs of its members and employers,” said Vivekanand Ramgopal, president, BFSI Products & Platforms, TCS.

An end-to-end digital ecosystem, TCS BFSI Products and Platforms enable the journeys of life, pensions/annuities, property/casualty, and health insurance companies. This SaaS-only platform supports digital transformation, enhanced omnichannel customer experience, and corporate simplification management.

With its corporate headquarters in Mumbai, Maharashtra, Tata Consultancy Services is a multinational Indian provider of consulting and information technology services.It operates in 150 locations throughout 46 countries as a part of the Tata Group.

TCS employed more than 600,000 people worldwide.The top Big Tech company is TCS, which ranks among the most valuable IT service companies globally and is the second-largest Indian corporation by market value. TCS, one of the top-ranked Indian corporations and an IT services provider, was ranked 64th overall in the Forbes list of the "World's Most Innovative Companies" in 2015.