TCS Wins 10-year Contract for Managing UK Pension Scheme

Tata Consultancy Services (TCS) has been selected by the Department for Education (DfE) to administer and further enhance customer experiences for the Teachers’ Pension Scheme in England and Wales. 

The Teachers’ Pension Scheme is the second largest public sector pension scheme in the UK with over 2 million members. TCS has been awarded a 10-year contract to manage the scheme administration services using a future-ready, digitally enabled, Omni channel platform powered by TCS BaNCS. This will enable accurate administration of pension records, payment of benefits, effective scheme finance management, proactive member engagement and easy access to information. 

TCS will deliver a digital-first, self-service pension experience, giving scheme employers and members anytime, any-channel access to their account information, along with personalized insights to help them understand their pension plan better and empower them to make informed decisions. 

Tata Consultancy Services is the flagship company and a part of Tata Group. It is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive-powered, integrated portfolio of business, technology and engineering services and solutions. 

On Monday, the stock opened at Rs 3313 and touched a high and low of Rs 3325.85 and Rs 3293.85, respectively. 

The BSE group ‘A’ stock of face value of Rs 1 has touched a 52-week high and low of Rs 3575 and Rs 2926, respectively. 

Last one week high and low of the scrip stood at Rs 3372.95 and Rs 3271 respectively. The current market cap of the company is Rs 12,06,005.04 crore. 

The promoters holding in the company stood at 72.30%, while Institutions and Non-Institutions held 22.35% and 5.35%, respectively.