Capita PLC (LON:CPI) has announced it extended a contract with the Department for Education for the administration of the Teachers’ Pension Scheme (TPS).
The professional services firm said the contract was extended for another four years, starting on 1 October 2021, and is worth £60mln.
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The service covers collection of contributions and calculation of pension payments for 2mln TPS members across England and Wales, the firm added.
“Capita has been the provider of the TPS, one of the largest public sector pension schemes in the UK, for more than 20 years,” it commented.
Shares jumped 10% to 36.88p on Monday morning,