Tata Consultancy Services (TCS), India’s largest IT company, has been awarded a contract by the UK’s Department for Education (DfE) to improve customer experiences for the Teachers’ Pension Scheme in England and Wales.
What Happened? TCS will manage the scheme’s administration services, ensuring accurate pension records, benefit payments and member engagement for 10 years.
With over 2 million members, the Teachers’ Pension Scheme is the UK’s second-largest public sector pension scheme. TCS will use its digital platform, TCS BaNCS, to provide a user-friendly, self-service pension experience for scheme employers and members. The goal is to offer personalised insights and empower informed decisions.
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To support this initiative, TCS plans to establish a service hub in Darlington, expanding its presence in the UK life and pensions industry.
“We will continue to strategically invest in our platform and pursue our aspiration to be the preferred growth and transformation partner to life and pensions companies in the UK," said Vivekanand Ramgopal, president of BFSI products and platforms at TCS.
The development comes a week after Sweden's Ikano Bank picked TCS’ software-as-a-service global banking platform to streamline its fragmented core banking operations and accelerate the launch of new financial services.
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