(Alliance News) - Capita PLC on Monday announced a 10-year contract to manage the UK's Civil Service Pension Scheme for the cabinet office, starting in September 2025.

The London-based consulting, transformation and digital services business said the GBP239 million contract aims to modernise pension administration systems via enhanced system design and digital innovation.

"We will integrate generative artificial intelligence technology to transform the pension experience for CSPS members, providing them with personalised and engaging digital channels to better plan and manage their retirement savings," Capita said.

Further, the contract seeks to enhance end-to-end customer experience for more intuitive and innovative interactions for client and pension members.

Chief Executive Officer Jon Lewis said: "This award is testament to the commitment of our colleagues to design innovative solutions and deliver exceptional customer experience. We are committed to offering seamless, tailored experiences and with generative AI we can deliver new levels of personalisation for all CSPS members."

Capita shares rose 5.2% to 19.29 pence each on Monday afternoon in London.

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.