TCS inks £840m contract with UK’s Nest

Bengaluru: TCS has won a massive contract from Nest, UK’s largest workplace pension scheme, which will offset some of the concerns that arose from the company’s recent loss of part of the over $2-billion deal from Transamerica.

The Nest contract is worth £840 million with an initial tenure of 10 years. There’s an option to extend the tenure by eight years. If extended, the total value of the contract in its 18-year tenure would be £1.5 billion. The contract is an expansion of the two companies’ partnership. TCS will focus on digitally transforming Nest’s scheme administration services, delivering enhanced member experiences and furthering the scheme’s mission of delivering better retirement outcomes for people across the UK.