Speaking to reporters, N Chandrasekaran, CEO and MD of TCS said, "TCS is delighted to be confirmed as the preferred bidder to deliver the NEST scheme administration solution and services."
Personal Accounts Delivery Authority (PADA), a non-departmental public body (NDPB), will sign a contract with TCS later this month, PADA said in a statement.
Neither TCS nor PADA gave any financial details of the deal. The contract could further be extended for up to five years.
"As we proceeded through our detailed procurement process TCS emerged as an extremely strong bidder, both in terms of their capabilities in pension administration and in their ability to provide value for money for NEST members," PADA Chief Executive Tim Jones said.