Capita wins UK pension services contract worth PS37 million

Capita PLC on Monday said that its Pension Solutions business has won a contract in the UK worth £37 million.

The London-based outsourcing and professional services company said the contract is to deliver pensions administration services and ‘transformational projects’ for an unnamed global parent company’s pension schemes in the UK.

The contract will start in November and run for five years, with an option to extend for an additional year.

Capita said it will focus on meeting the client’s membership requirements for increased digitisation and automation.

‘We are delighted to secure our partnership, supporting members to engage with their scheme and with the benefits it provides,’ said Managing Director Chris Clements.

‘We are aligned in our strategic goal of creating better member outcomes by cutting through complexity and offering individually tailored engagement to inform and support key pension life decisions.’

Shares in Capita were up 1.7% at 231.17 pence in London on Monday morning.

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