TPT partners with GBST & Wipro for pension administration

By Gloria Methri

TPT Retirement Solutions has selected GBST’s Composer wealth management technology for administering its Master Trust pension and Wipro Limited to act as its outsourced administration and transformation partner to drive business growth.

Under the new multi-year contract, TPT’s 400,000 pension members will migrate onto GBST’s Composer technology and be supported with innovative retirement income solutions in both the accumulation and drawdown phases. As part of this engagement, Wipro’s FCA-regulated subsidiary in the UK will conduct policy administration and servicing on behalf of TPT.

Wipro will set up an end-to-end digital ecosystem alongside GBST’s Composer platform to support TPT’s members, employers, and operational staff in driving digital transformation and enterprise simplification. They will deliver superior customer experience through self-service capabilities and AI-powered Smart Operations service delivery.

This agreement with TPT marks the second joint client for GBST and Wipro. GBST’s Composer SaaS platform and Wipro’s expertise in transformation and third-party administration services help financial services organisations manage legacy IT systems and multiple service providers simultaneously.

David Lane, Chief Executive Officer, TPT, said, “Moving to Composer will allow us to launch innovative new products as our needs evolve. Wipro’s extensive digital transformation, coupled with administration experience and expertise, is invaluable to enhancing our service to employers and members, simplifying our operations, reducing operational costs, and supporting our growth ambitions. Working with Wipro and GBST will enable us to transform the end-to-end member and employer digital experience we provide.”

Omkar Nisal, UKI Managing Director, Wipro Limited, said, “We’re delighted to have been selected by TPT to help them on their growth journey by providing end-to-end business administration services. We will be driving technology transformation along with GBST and delivering further business value. Leveraging our wide-ranging operational excellence, technology and digital transformation expertise, including GenAI technologies, we will work closely with TPT to support their business needs and help them achieve their ambitions.”

David Simpson, GBST’s Head of EMEA, said, “We are so pleased that TPT has selected Composer to support its growth ambitions in the UK market. The agreement is an important milestone for GBST as we expand further beyond technology provision through our strategic partnership with Wipro to create an end-to-end administration service for wealth management and pension organisations.”