REG-Capita Plc: Capita selected to administer the Civil Service Pension Scheme

CapitaAnnouncement

20/11/2023 07:15

 20 November 2023

Capita selected to administer the Civil Service Pension Scheme

Capita plc (‘Capita’) today announces it has secured a new contract to
manage the Civil Service Pension Scheme (CSPS) for the Cabinet Office from
September 2025 in a deal worth £239m over 10 years.

The CSPS is one of the largest public sector pension schemes in the UK.

Under the new contract, Capita will modernise pensions administration systems
through enhanced system design and digital innovation.

We will integrate generative artificial intelligence (GenAI) technology to
transform the pension experience for CSPS members, providing them with
personalised and engaging digital channels to better plan and manage their
retirement savings.

Enhancing the end-to-end customer experience will create more intuitive and
innovative interactions for both our client and pension members, while
providing the insights to support a data driven approach for employers within
the scheme.

The contract builds on Capita’s strong track record of successful delivery
as a strategic supplier to UK Government and the company’s depth of
experience operating in the regulated pensions market.

Jon Lewis, Chief Executive Officer, Capita, said: “We are exceptionally
proud to have been selected to administer the CSPS.

“This award is testament to the commitment of our colleagues to design
innovative solutions and deliver exceptional customer experience.

“We are committed to offering seamless, tailored experiences and with
generative AI we can deliver new levels of personalisation for all CSPS
members.”

Capita will be responsible for delivering employer and member services;
pensions payroll; administration services relating to the Civil Service
Compensation Scheme; Civil Service Injury Benefit Scheme; and related finance
and accounting services.

 

Notes to editors:

The total IFRS 15 transaction price (order book) is £239m.

 

For more information, please contact:

 

Investor enquiries 

Helen Parris
                                      Stephanie
Little

Director of Investor Relations             Investor Relations
Manager

Tel: 07720 169269                             Tel:
07541 622838

Email: IRteam@capita.co.uk              Email:
IRteam@capita.co.uk 

Media enquiries
Capita external communications
Tel: 0207 654 2399
Email: media@capita.co.uk

About Capita plc

Capita is a leading provider of business process services, driven by data,
technology and people. Every day our 43,000 colleagues help millions of
people, by delivering innovative, digitally enabled solutions to transform and
simplify the connections between government and citizens, businesses and
customers. We partner with our clients and provide the insight and
technologies that give time back, allowing them to focus on what they do best
and making people’s lives easier and simpler. We operate across two
divisions – Capita Public Service and Capita Experience – in the UK,
Europe, India and South Africa.

 



Copyright (c) 2023 PR Newswire Association,LLC. All Rights Reserved