TCS Selected as Strategic Partner to Administer the Teachers’ Pension Scheme in England and Wales

Tata Consultancy Services’ Future Ready, Omnichannel Platform Powered by TCS BaNCS™will Digitize Scheme Administration and Deliver High Quality Employer and Member Experience

PRESS RELEASE

LONDON | MUMBAI, June 5, 2023: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) announced that it 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, omnichannel 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 any-time, 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.

TCS is the largest provider of software and IT services in the UK, with a large and diverse workforce spread across 30 locations around the country. As part of the partnership with DfE, TCS plans to expand its already significant presence in the UK life and pensions industry by establishing a service hub in Darlington.

“We are delighted to partner with the Department for Education to digitally transform 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. “Enhanced customer experience has been the cornerstone of our platform’s value proposition to clients in the UK 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.”

TCS BFSI Products and Platforms is an end-to-end digital ecosystem that powers the journeys of life, pensions/annuities, property/casualty and health insurance providers. This SaaS-first platform helps companies manage enterprise simplification, deliver superior, omnichannel customer experience and achieve digital transformation.

ABOUT TATA CONSULTANCY SERVICES (TCS)

Tata Consultancy Services 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 55 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development

A part of the Tata group, India's largest multinational business group, TCS has over 614,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $27.9 billion in the fiscal year ended March 31, 2023, and is listed on the BSE and the NSE in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com

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