Capita selected as preferred bidder to run TPS
16 February 2011
CAPITA APPOINTED TO RUN TEACHERS' PENSION SCHEME
The Capita Group Plc (`Capita') announces today that it has been appointed as
preferred supplier by the Department for Education, after a competitive tender
process, to administer the Teachers' Pension Scheme (TPS). The 7 year contract
worth £80 million, with an option to extend for up to three years, would start
in October 2011 when the current contract, also with Capita, ends.
The TPS is the second largest public sector pension scheme in England & Wales,
with more than 1.6 million members. Capita was awarded its first TPS contract
in 1996 and its second in 2003. In 2009 it was awarded a one year extension,
continuing to administer the scheme from 2010 through to 2011. Over the last 14
years Capita has driven down the cost of running the TPS through delivery of
innovative IT solutions, electronic document management and streamlining
processes, by 45 per cent.
Commenting on the announcement, Paul Pindar, Chief Executive of The Capita
Group Plc said: "In addition to continuous improvement in the core
administrative services that Capita has been providing to date, the new
contract will enhance member engagement and communications to promote knowledge
of the Scheme, offer new ways of working with employers, and deliver new
information technology to further reduce the administrative burden on both
members and employers while delivering a cost effective service. Although we
have run the Teachers' Pension Scheme, successfully, since 1996 we have never
become complacent and have strived to continually drive down costs whilst
improving the range and quality of services. Capita was able to put forward a
compelling proposition for service delivery over the next 7 years that has been
recognised in the award of this new contract."
-ends-
For further information:
The Capita Group Plc
Tel: 020 7799 1525
Paul Pindar, Chief Executive
Shona Nichols, Corporate Communications Director
Media enquiries
Capita press office
Caroline Mooney
Tel: 0207 654 2152 or 020 7654 2399 (out of hours)
Notes to editors
The Capita Group Plc is the UK's leading provider of BPO and integrated
professional support service solutions. With 36,000 people at more than 300
sites, including 59 business centres across the UK, Ireland, the Channel
Islands and India, the Group uses its expertise, infrastructure and scale
benefits to transform its clients' services, driving down costs and adding
value. Capita is quoted on the London Stock Exchange (CPI.L), and is a
constituent of the FTSE100 with revenues for 2009 of £2,687 million. Further
information on The Capita Group Plc can be found at: http://www.capita.co.uk
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