Life & Pensions

Comprises all our life & pensions operations including open and closed book, occupational pensions and wealth and distribution services.

2008 Growth and operational update:

We continue to focus on winning new contracts and expanding our existing client relationships. The market is highly active and continues to offer strong new contract opportunities.

Life and Pensions Outsourcing: We are the leading L&P outsourcing provider with a resource of 10,000 people across our L&P operations.

We ended 2008 with the successful win of the Abbey Life contract to administer approximately 1.1million life and pensions policies with service due to commence in March 2009. 2009 has started well with selection as strategic partner by AXA Sun Life. Including the proposed AXA contract, which is due to commence in May 2009, we will be responsible for administering 26 million policies in total.

Our corporate pensions business, Capita Hartshead, continues to perform well, administering 550 schemes with over 3.4 million members.

Prudential: We achieved a smooth transition of services from Prudential including the transfer of 3,000 staff located in the UK and Mumbai.

ICT: We have continued to develop our technology platforms across the whole division to reinforce our reputation for providing leading edge service.

Offshore: Capita India continues to expand in size and capability and has played a key role in helping to win new life and pensions contracts.

Wealth & Distribution Services: We have implemented one of the UK's leading independent trading platforms, which has been embraced by one of the UK's largest intermediary support services business. In addition a number of life and pension product providers have chosen to launch their products on this new platform.

2009 priorities

• Continue to develop our shared delivery infrastructure to place us further at the forefront of this market with unique scale benefits and excellent administration and customer service
• Work with our existing clients on new business opportunities and explore ways of expanding our portfolio further
• Focus on the transformation of people, processes and technology to achieve greater efficiency and quality
• Achieve a smooth transition of services and people from AXA
• Use our strengths in customer retention and compliant management expertise to further develop our presence in
  this market
• Expand our occupational pensions consultancy activities, aided by the launch of our 1st Annual Consultancy
  Services Survey
• Continue to develop our independent platform strategy by expanding its product coverage and attracting new distributor and provider firms.