REG-Capita PLC: Capita signs teachers’ pension contract extension

CapitaAnnouncement

27/04/2020 07:35

27 April 2020

Capita signs teachers’ pension contract extension with Department for
Education
 

Capita plc (Capita) announces today that it has secured a contract extension
to continue the administration of the Teachers’ Pension Scheme for the
Department for Education. The extension, which is due to start on 1 October
2021, is worth £60m over four years.

Capita will continue to deliver the end-to-end administration of the UK
Government Teachers’ Pension Scheme (TPS) for all members in England and
Wales.

In addition to the core administration process, the contract covers multiple
services, including: all stakeholder, member and employer engagement; customer
contact and digital solutions; data analytics; and change management and
innovation.

Capita will continue to deliver a fully integrated administration service for
more than 2 million TPS members. This includes the collection of contributions
from over 11,200 employers, and the calculation and payment of pensions to
more than 700,000 pensioners and beneficiaries. Capita will also manage the
schemes for both deferred and active members, totalling a further 1.3 million
people.

Capita has been the provider of the TPS, one of the largest public sector
pension schemes in the UK, for more than 20 years. A seven-year extension was
signed with the Department for Education in 2011, followed by an additional
three-year extension.

The TPS is administered from Darlington by Capita’s Employee Benefits
business, which forms part of the company’s People Solutions division. The
business 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. 

Chantal Free, Executive Officer for Capita’s People Solutions division,
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.”

ENDS

Notes to editors:

The total IFRS15 transaction price (order book) for the four-year contract is
£60m.

For more information please contact:

Investor enquiries
Stuart Morgan
Director of Investor Relations
Tel: 07989 665484
Email: IRteam@capita.co.uk

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

About Capita

Capita is a consulting, digital services and software business. Every day our
61,000 colleagues help millions of people, by delivering innovative solutions
to transform and simplify the connections between businesses and customers,
governments and citizens. We partner with clients and provide the insight and
cutting-edge technologies that give time back, allowing them to focus on what
they do best and making people’s lives easier and simpler. We operate in the
UK, Europe, India and South Africa – and across six divisions: Customer
Management; Government Services; People Solutions; Software; Specialist
Services; and Technology Solutions. Capita is quoted on the London Stock
Exchange (CPI.L). Further information can be found at: http://www.capita.com



Copyright (c) 2020 PR Newswire Association,LLC. All Rights Reserved