The Caisse nationale d’assurance vieillesse (CNAV) has selected CGI Group Inc. (NYSE: GIB) (TSX: GIB.A), a leading provider of information technology and business process services, to help upgrade its pension information system. The contract, which is valued at an estimated 5 million euros in total, is for one year and can be renewed twice, for a total of 36 months.
The upgrade aims to improve service to pensioners and enable the system to rapidly adapt to regulatory changes.
The new system will increase the modularity of the core CNAV information system (career management, pension calculation, pension payments) in order to assure more efficient implementation of the frequent regulatory changes to the pension plan, while continuing to provide a well-structured service offer. The upgrade also includes a new career management approach that integrates risk control tools.
The CNAV depends on a complex information system that is constantly evolving. The system successfully adapted to the demographic wave of baby-boomer retirements, which has seen the volume of pensioners increase by almost 50% since 2003. Today it must help respond to new challenges by facilitating the rapid application of regulatory changes and the development of new services to pensioners.
To this end, in 2012 the CNAV issued a call for tenders to upgrade its information system. Of the five components making up the initiative, two have been awarded to CGI: development of the base functionalities, including the overall management of the program, and the technical service oriented architecture (SOA) functionalities.
About the CNAV
The main pension scheme in France, the Réseau de l'Assurance retraite (pension insurance network), comprised of the Caisse nationale d'assurance vieillesse (CNAV), pension and workplace health insurance fund (Carsat), and general social security funds, manages the pensions of 13.2 million retirees who are part of the public pension plan (2012 figure). In addition to its national role, the Cnav directly manages pensions for the Ile-de-France region.
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. With approximately 71,000 members located in offices and global delivery centers in the Americas, Europe and Asia Pacific, CGI offers a comprehensive portfolio of services including high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management as well as a wide range of proprietary solutions. Further to the recent acquisition of Logica, CGI’s annualized revenue is in excess of C$10 billion, with an estimated order backlog of approximately C$18.3 billion; its shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the FTSE4Good Index. Website: www.cgi.com.
All statements in this press release that do not directly and exclusively relate to historical facts constitute “forward-looking statements” within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and are “forward-looking information” within the meaning of Canadian securities laws. These statements and this information represent CGI’s intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements or forward-looking information. These factors include but are not restricted to: the timing and size of new contracts; acquisitions and other corporate developments; the ability to attract and retain qualified members; market competition in the rapidly evolving IT industry; general economic and business conditions; foreign exchange and other risks identified in the press release, in CGI’s annual and quarterly Management’s Discussion and Analysis (“MD&A”), in CGI’s Annual Report, in CGI’s Annual Report on Form 40-F filed with the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), and in the Company’s Annual Information Form filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com), as well as assumptions regarding the foregoing. The words “believe,” “estimate,” “expect,” “intend,” “anticipate,” “foresee,” “plan,” and similar expressions and variations thereof, identify certain of such forward-looking statements or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information.
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