The UK government has awarded a landmark contract to Tata Consultancy Services to administer Britain's new national pension scheme. TCS will take charge for the new personal pension accounts, known as Nest, that are due to be launched in 2012.

The deal was not expected to be signed until after the upcoming election, but was by TCS on Tuesday. It covers an initial 10 years with a possible extension for another five.

This announcement comes just days after BBC reports that Labour is planning to sign-off on new NHS NPfIT agreements before the general election.