Tata Consultancy Services (TCS) has secured a $1.9 billion contract to transform the UK’s National Employment Savings Trust (Nest). This deal, among the biggest in the country’s pensions industry, aims to modernize Nest’s IT systems and processes. Nest, a government-supported pension scheme, manages retirement savings for numerous UK employees, with assets exceeding £100 billion.
TCS and Nest are collaborating on a digital platform. It aims to enhance customer experience and personalize services. The partnership will benefit Nest by improving operational efficiency and reducing costs.
TCS, a top IT services company, secured a significant win. The deal is a testament to their prowess in pensions. Completion is anticipated in the next few months.
The deal has a duration of 10 years, and it can be extended. TCS will handle the design, development, and implementation of the digital platform. The platform will be hosted on TCS Cloud. TCS will offer continuous support and maintenance services to Nest.
The deal is a big victory for TCS. It shows their increasing dominance in pensions. It also proves their expertise in handling challenging IT projects.
