Key Points
- TCS signs a 15-year contract with Ireland’s Department of Social Protection.
- The contract aims to set up an Auto Enrolment Retirement Savings Scheme.
- About 800,000 local workers will benefit from the scheme.
- TCS will provide digital tools for enrolment and benefits management.
- Services will be managed from TCS’ Global Delivery Centre in Donegal County.
- TCS has experience with similar projects in the UK.
Looma News
TCS has secured a 15-year contract with Ireland’s Department of Social Protection (DSP) to roll out a new Auto Enrolment Retirement Savings Scheme. The announcement was made on October 29, and it will benefit around 800,000 local workers.
The contract requires TCS to deliver digital solutions for automatically enrolling workers into the pension scheme. This includes managing the enrolment process, keeping records, and handling benefit payments. Services will come from TCS’ Global Delivery Centre located in Letterkenny, Donegal County.
TCS has successfully carried out similar national programs in the UK and other markets before. The company will use its experience to work with Ireland’s DSP on the Auto Enrolment Pensions Scheme, providing workers with a retirement savings platform called ‘My Future Fund.’
This project follows the passing of the ‘Automatic Enrolment Retirement Savings System Bill’ in Ireland earlier this year. TCS was chosen after a competitive selection process. Heather Humphreys, Ireland’s Minister for Social Protection, highlighted TCS’s relevant experience in providing similar services globally.
Vivekanand Ramgopal, President of BFSI Products & Platforms at TCS, mentioned that the goal is to make the pension system easier to access, clearer, and more efficient. Deepak Chaudhari, Country Head of TCS Ireland, described the partnership as a “fantastic opportunity” to apply their expertise to a project of national importance.
