Capita signs £60m TPS administration contract extension

The Teachers’ Pension Scheme will continue to be administered by Capita after the company signed a four-year contract extension worth £60m with the Department for Education.

The extension, which is due to begin on 1 October 2021, will see Capita continue to provide core services for more than 2 million members across England and Wales.

This means Capita will collect contributions from over 11,200 employers, as well as calculate and pay the pensions of more than 700,000 pensioners and beneficiaries, while it will also manage the schemes for a further 1.3 million deferred and active members.

The outsourcer will also take the lead on stakeholder, member and employer engagement, customer contact, digital solutions, data analytics, and change management and innovation.

Capita has been administering the public sector scheme for than two decades, having penned a seven-year extension in 2011, followed by an additional three-year extension.

Capita People Solutions division executive officer, Chantal Free, said: “We are very proud of our partnership with the Department for Education and the Teachers’ Pension Scheme team. I am delighted that the department chose to extend our contract for four more years.”

The scheme is administered by the People Solutions division within Capita’s Employee Benefits business, which delivers services including consulting, expertise and administration to the pensions of more than 4.8 million members, from over 500 schemes, on behalf of 350 clients in the UK and Ireland.

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