Tata Consultancy Services (TCS) has secured a landmark 15-year contract with Ireland’s Department of Social Protection (DSP) to implement and manage the country’s new Auto Enrolment Retirement Savings Scheme, titled “My Future Fund.”
The initiative will offer an end-to-end digital solution that will simplify retirement savings enrolment for approximately eight lakh workers in Ireland, a move expected to benefit employees, employers, and administrative staff across the country.
The “My Future Fund” programme aims to provide an accessible, automated approach to retirement savings, with TCS responsible for overseeing the complete administration of the scheme.
The TCS BaNCS platform, known for its digital capabilities, will be the core technology powering this initiative, enabling efficient worker enrolment, accurate record management, and streamlined benefit disbursement. Additionally, TCS will ensure participants have access to digital information, supporting a transparent and user-friendly experience.
All services for the “My Future Fund” will be delivered through TCS’s Global Delivery Centre in Letterkenny, one of the largest employers in Northwest Ireland. This facility employs 1,200 associates.
In a statement, Heather Humphreys, Ireland's Minister for Social Protection, said, “I am pleased to welcome TCS on board as the managed service provider for My Future Fund. TCS has a wealth of relevant experience, having provided similar services in other countries. My officials and I will be working hard alongside TCS, the Revenue Commissioners and payroll software developers to make sure that My Future Fund is delivered on time and to the highest standard.”
