Equiniti buys Cabinet Office stake in MyCSP for £8m; Wins extension to Civil Service pensions admin deal
Equiniti has bought the Cabinet Office's 24% stake in MyCSP and extended its contract to administer the Civil Service pension schemes until the end of 2021.
Legal & General (L&G) has been selected as provider of HM Civil Service's defined contribution (DC) schemes after a competitive tender process.
The Cabinet Office has named Legal & General as the preferred provider for the civil service's defined contribution (DC) scheme.
A series of system and communication errors led to delayed pension payments to civil servants after administration was moved to MyCSP, a National Audit Office (NAO) report says.
Employment relations minister Jo Swinson has praised employers for introducing enhanced parental packages and pledged to work alongside trade unions to increase shared parental leave take-up.
Fathers in the civil service sharing parental leave with their partner will receive equal entitlements to that of mothers, under new proposals announced by Nick Clegg this week.