UK's Capita Recognizes Inadequate Handling of Government Pension Scheme

Capita (CPI.L) on Tuesday acknowledged that its management of the Civil Service Pension Scheme has "not been good enough" and apologized for the delay in bereavement, retirement, and quotation cases. The business process outsourcing company said it is now equipped with the processes, automation, and technology to address the backlog, adding that it continues to make efforts to resolve its operational issues. Paymaster General Nick Thomas-Symonds on Monday said he is exploring long-term options for the scheme's operation. In response, Capita said it is evaluating the potential consequences of the ministerial statement.