Logica drops out of Personal Accounts race

Logica UK has pulled out of the running for the personal accounts administration contract, the Personal Accounts Delivery Authority confirms.

The IT services provider is the second company to withdraw from the competitive dialogue process following Danish pension fund and administration provider ATP Group, who decided to withdraw last month.

PADA chief executive Tim Jones said: "We wish to thank Logica and its key sub-contractors for their engagement with us. We enjoyed working with them and have benefited from their input throughout the dialogue process."

Logica said the reasons for its withdrawal were confidential but added it remains on very good terms with PADA.