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Capita PLC on Tuesday welcomed the renewal of a contract with the Cabinet Office to administer the Royal Mail Statutory Pension Scheme.
The London-based outsourcing and professional services company said the contract had been extended for six years from 2026, with an option to extend for a further two years.
Under the deal, which is worth £48 million over eight years, Capita will continue to look after more than 350,000 RMSPS members while migrating delivery to a single platform.
Capita has administered the RMSPS since 2017, delivering services including finance, accounting and taxation administration, pension payroll and reporting, as well as data analysis and management.
Chief Executive Adolfo Hernandez said: ‘This renewed contract reflects not only our long-standing and established strategic partnership with the Cabinet Office, but also the quality of the service we provide to members. We are exceptionally proud to continue to deliver this vital work.’
Shares in Capita rose 0.5% to 13.26 pence in London on Tuesday morning.
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