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TCS named successful bidder for NEST scheme administration services |
Contract to run for ten years.
Tata Consultancy Services (TCS) has been named as the successful bidder for NEST scheme administration services, which will be central to the new pensions landscape.
The contract is divided into two stages and runs for ten years. The first stage will run to October 2010, allowing TCS to begin the activity required to set up and administer NEST.
Prior to the expiry of the first stage, a decision will be made on whether to proceed with the contract for the remainder of the contract term. There are a possible extension for up to a further five years.
N. Chandrasekaran, Chief Executive Officer and Managing Director, Tata Consultancy Services, said: "This project will make a difference to millions of people in the UK and we are fully committed to it."
"We are happy to be a part of a project that benefits the broader UK economy by helping create real value for UK society and delivering world class services to its citizens."
Further information:
TCS
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