Sections

UK teachers’ pension scheme in technology move

UK – The UK’s second largest pension fund, the Teachers Pension Scheme, is to get access to a range of mobile technology via an outsourcing deal with services firm Capita Group.

The new contract, building on an existing contract between the scheme and Capita, is worth 62 million pounds (90.4 million euros) over seven years. The teachers’ scheme is the second largest pension scheme in the country with 1.4 million members.

“The contract is worth 62 million pounds over the next seven years, effective from October 1 2003,” Capita said in a statement.

Capita, via its pensions administration arm Capita Hartshead, is to supply a new service platform that can support new technology such as wireless application protocol, short message service and third generation mobile telephony.

Capita says the new platform would offer “huge benefits of flexibility and efficiency for the future”.

Schools minister David Miliband said: “Capita's proposal offers value for money and high quality service for members, pensioners and employers.”

Capita chief executive Rod Aldridge said the deal was of “strategic importance” in its aims to become a force in the life and pensions market.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2466

    Asset class: Multi-asset funds.
    Asset region: Global.
    Size: EUR 30m.
    Closing date: 2018-08-16.

  • QN-2467

    Asset class: Search for a broker (mainly ETFs).
    Asset region: Global.
    Size: 250m.
    Closing date: 2018-08-28.

  • DS-2468

    Closing date: 2018-08-24.

Begin Your Search Here