April 23, 2024 20:56 (IST)
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TCS and UK's NEST partner to sign-up 100,000 employers sign-up in pension scheme
Mumbai/London, May 17 (IBNS) Tata Consultancy Services, a leading global IT services, consulting and business solutions organization, announced on Tuesday that its client, the National Employment Savings Trust (NEST) in the UK, has now signed up more than 100,000 employers to its auto enrolment pension scheme.
NEST was established in 2010 as part of the UK government’s workplace pension reforms, which require all UK employers to enrol their eligible workforce into a qualifying workplace pension scheme. The roll-out of the auto enrolment reforms began in October 2012 and are being introduced in stages up until 2018.
Since roll out began more than three million members have been enrolled with NEST, with membership figures tripling from one million to three million since April 2014.
As NEST’s IT solutions partner and scheme administrator, TCS is responsible for delivering outcome-based, end-to-end administration services across all aspects of the scheme, said TCS.
TCS set up the IT platforms that underpin NEST’s operations including front and back-office, IT infrastructure hosting and overarching management and governance of the scheme administration.
The company said that TCS BaNCS – a suite of bespoke solutions designed for the banking, insurance, pension and capital markets industries – sits at the heart of the NEST scheme, with additional technology, business process and infrastructure services also being provided by the TCS team.
Helen Dean, CEO, NEST, said, “The systems, processes and technology that TCS has developed as a pension scheme administrator have been essential to getting us to where we are today. We’re delighted with the success of the scheme to date and will be working closely with TCS as we continue to grow our membership and develop additional offerings.”
Shankar Narayanan, Country Head, UK & Ireland, TCS, said, “We’re extremely proud to have been a NEST partner since 2010 and look forward to continuing our work together to offer the UK’s most innovative, user-friendly auto enrolment pension scheme.”
TCS has offices in more than 30 UK locations, including London, Edinburgh, Manchester, Leeds, Ipswich, Norwich, Peterborough and Liverpool, delivering digital projects for more than 150 TCS customers in the UK, including Boots, BT, Diageo, National Grid, Nationwide, Marks & Spencer, Thames Water and Virgin Atlantic, the company said.
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