TCS Wins €10m Auto-Enrolment Pension Contract

[TheJackal]

TCS wins €10m auto-enrolment pension contract - Business Plus

Tata Consultancy Services (TCS) has won the tender for the government's pension auto-enrolment scheme following a public procurement process.

businessplus.ie

Tata Consultancy Services (TCS) has won the tender for the government's pension auto-enrolment scheme following a public procurement process.

TCS was awarded the 10-year contract, reported to be worth €10m, following the passing of the landmark Automatic Enrolment Retirement Savings System Bill, pending presidential approval.

The Indian-headquartered company has a global delivery centre based in Letterkenny, Co. Donegal and currently provides pension administration, cyber security and IT support. The group also administers the UK's equivalent auto-enrolment scheme, NEST, with c.13m participants.

 

[thedaddyman]

That doesn't sound like a lot for a 10 yr contract.

 

[AndroidMan]

I worked with TCS many times. The €10m be swallowed up quickly and there will be more and more budget sought and they will place low wage offshore staff on the project to just keep the pulse going.

 

[AAAContributor]

That doesn't sound like a lot for a 10 yr contract.

You're right.

This is more like it:

India’s TCS closes in on €150m deal to build Irish auto-enrolment system

Awarding of 10 year contract expected to be finalised within weeks

www.irishtimes.com

 

[MugsGame]

10 years to implement, more like.

A highly complex project, particularly when Revenue won't be the Dept. routing the money.

 

[Fortune]

10 years to implement, more like.

A highly complex project, particularly when Revenue won't be the Dept. routing the money.

I know TCS actually run loads of pensions in the UK (I believe Aviva have outsourced their IT and possibly customer service to them), so it shouldn't be too hard for them. Do they also have the UK NEST auto enrollment? The big blocker will be a lack of a fund manager.

 

[Dr Strangelove]

If only the government already had an organisation set up to collect money from every payroll in the country…..

 

[Towger]

10 years to implement, more like.

A highly complex project, particularly when Revenue won't be the Dept. routing the money.

Revenue were open to running the collection part. It would just be threatened as another tax to collect and enforce collection of. A few more fields add to their existing PAYE Modernisation system. Now employers will have to deal with two organisations and systems, the second largely duplicating the functions of Revenue.

 

[MugsGame]

I know TCS actually run loads of pensions in the UK (I believe Aviva have outsourced their IT and possibly customer service to them), so it shouldn't be too hard for them. Do they also have the UK NEST auto enrollment? The big blocker will be a lack of a fund manager.

Yes, TCS implemented NEST, but the UK tried to replace them and failed.

 

[AndroidMan]

Yes, TCS implemented NEST, but the UK tried to replace them and failed.

Yep.. they will make things so unnecessarily complex, non-standard, undocumented, unfathomly unclear and completely unportable.
This guarantees future revenue for them as no other organisation can take over. Ever.
I have first hand experience here.