Tata Consultancy Services to enhance Teachers’ Pension Scheme experience
Tata Consultancy Services (TCS) announced its selection by the UK Department for Education (DfE) to administer and improve customer experiences for the Teachers’ Pension Scheme in England and Wales.
With over two million members, the Teachers’ Pension Scheme stands as the second largest public sector pension scheme in the UK.
Tata Consultancy Services has secured a 10-year contract to manage the scheme administration services, employing a digitally enabled, future-ready omnichannel platform powered by TCS BaNCS. This advanced platform will facilitate accurate administration of pension records, seamless benefit payments, effective scheme finance management, proactive member engagement, and easy access to information.
Under this partnership, Tata Consultancy Services will introduce a digital-first, self-service pension experience, granting scheme employers and members anytime, any-channel access to their account information. Additionally, personalized insights will be provided to help individuals better understand their pension plans and empower them to make well-informed decisions regarding their future financial security.
To support this initiative, Tata Consultancy Services plans to establish a service hub in Darlington, further expanding its significant presence in the UK life and pensions industry. With a vast and diverse workforce spread across 30 locations in the country, Tata Consultancy Services is expected to deliver exceptional service to the Teachers’ Pension Scheme.
Tata Consultancy Services chosen by the UK Department for Education to enhance Teachers’ Pension Scheme experience. Photo courtesy of Rameshng/Wikipedia.org.
The partnership between Tata Consultancy Services and the UK Department for Education marks a significant step toward enhancing the pension experience for teachers in England and Wales. By leveraging Tata Consultancy Services’ expertise in technology and customer-centric solutions, the Teachers’ Pension Scheme aims to provide its members with seamless access to essential services, empowering them to effectively plan for their retirement.
Vivekanand Ramgopal — Tata Consultancy Services President of BFSI Products & Platforms said: “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.
“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, an end-to-end digital ecosystem, will drive the transformation of life, pensions/annuities, property/casualty, and health insurance providers. This SaaS-first platform will enable companies to simplify their operations, deliver superior omnichannel customer experiences, and achieve comprehensive digital transformation.