Capita PLC (LSE:CPI) has secured a £137 million contract renewal with an existing UK pensions client, extending the agreement for up to 10 years from the first quarter of 2026.
The renewal strengthens a long-standing relationship for the outsourcing group’s Pension Solutions division and provides revenue visibility over the next decade.
The agreement covers the continued delivery of pension administration services, with Capita set to deploy new technology aimed at streamlining transactions, expanding operational capacity and enhancing customer experience.
Investment in digital tools and automation forms part of the company’s broader strategy to modernise core platforms and improve service efficiency across its client base.
Chris Clements, managing director of Capita Pension Solutions, said: “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 shares opened 1.4% higher at 360p.