NEST admin contract will cost £600m

The Times on Sunday reported Labour had pursued a "scorched earth policy" before the general election, leaving behind billions of pounds of previously hidden spending commitments - including the one for the NEST administration system. And it said the contract would still cost at lead £25m even if it is cancelled. Tata Consultancy Services was appointed as the administer for the National Employment Savings Trust in March (PP Online, March 2). The contract with TCS is divided into two stages and runs for 10 years, with possible extensions for up to a further five years. The first sta...