Tata Consultancy Services (TCS) has signed a 15-year agreement to revamp Ireland’s pension system, benefiting around 800,000 workers, the company announced on October 29.
Under the contract, TCS will provide a digital platform to automate the enrolment of workers in pension schemes. The company will manage enrolment processes, maintain records, and oversee the distribution of benefits. These services will be handled through TCS’s Global Delivery Centre in Letterkenny, County Donegal, Ireland.
TCS noted that it has implemented similar national programs in the UK and other markets, and will leverage that experience while working with Ireland’s Department of Social Protection (DSP) on the Auto Enrolment Pensions Scheme. The initiative will offer workers a retirement savings platform called ‘My Future Fund.’
Previously, in 2023, TCS announced a $1.1 billion partnership with the National Employment Savings Trust (NEST), the UK’s largest workplace pension scheme, to digitally transform its administration services over a decade.
Ireland passed the ‘Automatic Enrolment Retirement Savings System Bill’ earlier this year, with TCS securing the contract following a competitive tender process.
