Donegal-based Tata Consultancy Services (TCS) has secured a 15-year contract with the Department of Social Protection (DSP) to implement and support the country’s new Auto Enrolment Retirement Savings Scheme.
This initiative will provide a comprehensive, end-to-end digital solution for automatic enrolment of nearly 800,000 workers in Ireland.
Services will be delivered through TCS’ Global Delivery Centre in Letterkenny which currently employs over 1,200 people.
Leveraging its TCS BaNCS™ platform and ecosystem, TCS will oversee the administration of the scheme, enabling seamless enrolment, record management, and benefit disbursement.
This project follows the passing of the Automatic Enrolment Retirement Savings System Bill in Ireland earlier this year and the conclusion of a rigorous tender process by the DSP.
Deepak Chaudhari, Country Head of TCS Ireland, said the partnership is a fantastic opportunity for TCS Ireland to apply its deep contextual knowledge, innovation and to contribute to a project of national importance that will have a lasting impact.
“It is an exciting time for our talented team, as this initiative not only expands our capabilities but also job opportunities and skills development to Donegal; further strengthening our commitment to the region and to driving meaningful change in the pensions landscape,” he said.
“Strengthening TCS’ nearshore capabilities, the global delivery centre in Letterkenny hosts state-of-the-art facilities and employs around 1,200 associates. It is one of the largest employers in the Northwest of Ireland.”
Minister for Social Protection, Heather Humphries photographed with TCS Country Head of Ireland, Deepak Chaudhari, as TCS secure a 15-year contract with Ireland’s Department of Social Protection (DSP) to implement and support the country’s new Auto Enrolment Retirement Savings Scheme.
TCS set up operations in the UK & Ireland nearly 50 years ago and works with 200 of the region’s best-known and most-loved businesses, including Aer Lingus, AIB life, Aviva, Bank of Ireland, ESB, British Airways, Primark, Sainsbury’s, Nationwide, M&S, Asda and Boots. With its deep industry expertise and an employee strength of over 23,000 people across the UK and Ireland, TCS holds a leadership position in software and IT services in the UK and Irish markets.
Heather Humphreys, Minister for Social Protection, said, “I am pleased to welcome TCS on board as the managed service provider for My Future Fund. TCS has a wealth of relevant experience, having provided similar services in other countries. My officials and I will be working hard alongside TCS, the Revenue Commissioners and payroll software developers to make sure that My Future Fund is delivered on time and to the highest standard.”
TCS has experience with similar schemes in the UK and other markets, having managed the National Employment Savings Trust (NEST) since the UK government launched a digital auto-enrolment scheme in 2011. It created a digital design for NEST, implementing a user-friendly, self-serve model that supports over 13 million workers saving for retirement.
Vivekanand Ramgopal, President, 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 knowledge of the market to make the pension system more accessible, transparent and efficient for workers in Ireland.”
The “My Future Fund” pension scheme will enable thousands of workers to save and invest for their future. The system will benefit everyone involved, from employers and operational staff to pensioners, by improving pension record management, timely payments, effective scheme finance management, and providing easy digital access to information.
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