BENGALURU: Tata Consultancy Services (TCS) has secured 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, known as the My Future Fund. This initiative will provide a digital solution for automatic enrolment of nearly 800,000 workers in Ireland, the company said on Tuesday.
Leveraging its TCS BaNCS platform and ecosystem, TCS will oversee administration of the scheme. Services will be delivered via TCS’ Global Delivery Centre in Letterkenny, Co. Donegal, Ireland.
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 Department of Social Protection, TCS added in a statement.
Though TCS didn’t disclose the deal size, an Irish daily in June reported that the deal is valued up to EUR 150 million. 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.