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Indian IT Major TCS All Set To Notch UP 600 Million Pound UK Pension Deal

Abhishek Tiwari, Wednesday 03rd March 2010


One of the leading IT giants of India, Tata Consultancy Services, is ready to hook £600 million deal related to pension scheme by UK government. The deal is for an outsourcing contract for taking care of a pension scheme sponsored by state. The scheme is to be launched by in the year 2012 and the deal will be signed between PADA (Personal Accounts Delivery Authority) of UK and TCS.


The role of TCS starts with the setting up and administering the NEST i.e. National Employment Savings Trust. Other responsibilities include providing all the IT enabled services such as cash management, platform for employer-employee participation, collection and reconciliation, and the company will also be involved in the accounts administration process.


It’s a ten year deal which would be extended to another five year. The extension will be based solely on the performance of TCS in the initial stage of setting up and administering the NEST which would end up by October 2010. The deal is going to benefit millions and millions of British people focusing more on low to middle class. The fact that TCS offers a very competitive price will also work in their favor.

 
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