The Personal Accounts delivery Authority (Pada) has confirmed that Tata Consultancy Services (TCS) will administer the national employment savings trust (Nest).
The contract, which will be signed later this month, is divided into two stages and runs for 10 years, with possible extensions for up to five more years. The first stage will run to October 2010.
Tim Jones, Pada chief executive, said: “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.”
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