In a not-so-surprising announcement, the Personal Accounts Delivery Authority (PADA) has named Tata Consultancy Services (TCS) as the successful bidder for its National Employment Savings Trust (NEST) scheme administration services.

The contract will be signed with the sole bidder for the contract later this month. It runs for ten years and is divided into two stages, with the potential for extension of up to a further five years. The first stage runs from October 2010 to allow TCS to begin the activity required in the set-up and administration of NEST. Before the first stage expires, PADA will decide whether to proceed with the remainder of the contract term.

"This is excellent news," commented Tim Jones, PADA chief executive. "As we proceeded through our detailed procurement process TCS emerged as an extremely strong bidder, both in terms of their capabilities in pension administration and in their ability to provide value for money for NEST members. Signing the contract early, in stages, allows us to get on with our work to deliver NEST."

Angela Eagle, Minister of State for Pensions and the Ageing Society, congratulated TCS on its appointment, and N. Chandrasekaran, chief executive officer and managing director, Tata Consultancy Services, said: "TCS is delighted to be confirmed as the preferred bidder to deliver the NEST scheme administration solution and services. This project will make a difference to millions of people in the UK and we are fully committed to it. Our selection as the preferred bidder demonstrates our strong domain and solution expertise and highlights our commitment to the UK public sector. We are happy to be 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."

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