To ask the Secretary of State for Education, with reference to the Teachers' Pensions contract with Capita, for how long that contract has been extended and what the cost of that extension was.
3 May 2018
The initial contract to administer the Teachers’ Pension Scheme (TPS) was awarded to Capita TP in 2011 for a period of seven years. That contract was extended for a further three years and will now cease in 2021.
The total cost of the contract extension is £10,763,000 per year over three years i.e. £32,289,000. The TPS is the second largest public sector scheme in the country, with nearly 2 million members and in excess of 9,000 employers. The TPS contract with Capita is the largest single contract managed by this department and has been rated platinum quality by the Cabinet Office and “low cost, high quality” by external benchmarking.