8th Mar 2019 08:07
LONDON (Alliance News) - Serco Group PLC on Friday said it has signed a contract worth up to USD200 million to provide support services to the US Pension Benefit Guaranty Corp.
The FTSE 250 outsourcer said the contract has a one year base period and four option years. If all years are exercised, the contract will have a value of USD200 million.
Under the contract, Serco will help PBGC field offices manage documents and records, build databases, administer benefits, analyse data, automate processes, and provide customer support.
PBGC is a US federal agency that protects the retirement incomes of nearly 37 million US workers in the private sector, Serco explained.
Serco shares were trading down 1.4% at 134.30 pence each early Friday.
Related Shares:
Serco