Capita Pension Solutions managing director Chris Clements
Capita has announced its pension solutions business has secured a contract renewal with an existing unnamed UK client, effective from the first quarter of this year.
It said the renewal – valued at £137m on an IFRS 15 basis over the duration of the contract – was for a total term of up to ten years.
The outsourcer said the renewal "deepens and extends the client relationship" as Capita continued to deploy new technology and innovations to streamline transactions, expand capacity, and enhance customer experience.
Capita Pension Solutions managing director Chris Clements commented: "We are delighted to continue to strengthen this relationship, and are looking forward to continuing to deliver an exceptional service, with new technology solutions and tools to improve the customer experience and create better outcomes for all."
The contract win comes as Capita is dealing with a backlog of issues following its takeover of the administration of the Civil Service Pension Scheme at the start of December.
