TCS Wins Major 15-Year Deal to Digitise Ireland’s Pension Enrolment

On October 29, 2024, Tata Consultancy Services (TCS), a global leader in IT services, announced it had won a 15-year contract with Ireland’s Department of Social Protection (DSP). 

TCS will help create and manage Ireland’s new Auto Enrolment Retirement Savings Scheme, called the “My Future Fund.” This system is designed to enrol nearly 800,000 Irish workers into retirement savings automatically.

Using its TCS BaNCS™ platform, TCS will provide a complete digital solution for managing enrolment, record-keeping, and benefit payments. Services will be handled from TCS’s Global Delivery Centre in Letterkenny, Donegal. This project follows the approval of Ireland’s Automatic Enrolment Retirement Savings System Bill earlier this year and DSP’s selection process to find the best partner for the job.

Vivekanand Ramgopal, President of BFSI Products & Platforms, TCS, said, “We are privileged to partner with the Department of Social Protection for a nationally significant programme such as the digital Auto Enrolment Pension Scheme. We look forward to partnering with the Department and the new NAERSA organisation to implement the scheme. TCS has expertise and experience in delivering critical transformation projects in the UK and Ireland. We will leverage this experience and our market knowledge to make the pension system more accessible, transparent and efficient for workers in Ireland.” 

TCS has strengthened its presence in Ireland with a state-of-the-art global delivery centre in Letterkenny, employing around 1,200 people, making it one of the region’s largest employers. TCS has operated in the UK and Ireland for almost 50 years, partnering with 200 well-known companies like British Airways, Primark, Aviva, Sainsbury’s, and Boots. With over 23,000 employees across the UK and Ireland, TCS is a leader in IT services and software for these markets. It was also ranked the top IT service provider in customer satisfaction by CIOs from major UK companies with high IT budgets.

About Tata Consultancy Services

Tata Consultancy Services (TCS) is a leading provider of IT services, consulting, and business solutions that has supported major global companies in their transformation journeys for over 56 years. TCS offers a range of business, technology, and engineering services powered by cognitive insights, all delivered through its unique Location Independent Agile™ model, which sets a high standard for software development.

On October 29, 2024, Tata Consultancy Services Ltd’s share price opened at ₹4,095.85, touching the low price of ₹4,060.10 as of 02:13 PM on NSE.

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