Legal & General (L&G) has been selected as provider of HM Civil Service's defined contribution (DC) schemes after a competitive tender process.
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.
DB schemes take 'up to three months' to respond
MyCSP has admitted it is experiencing problems with delayed payments after transferring its admin in-house and shifting its 1.5 million members onto a single administration system.
QinetiQ has closed its defined benefit (DB) scheme to future accrual, cutting its deficit by half to £20m.
The National Audit Office has refused to sign off fully the 2011-12 Civil Superannuation accounts, which report the results of the Principal Civil Service Pension Scheme.
Labour MP Keith Vaz is to lead a debate on changes to police pension provisions in Parliament this afternoon.
Public sector pensions need further reform before 2020 to avoid an annual £32bn liability for UK taxpayers, Centre for Policy Studies research fellow Michael Johnson says.
The Government has issued a call for evidence after the Public Service Pensions Bill passed its second reading in parliament this week.
A new innovation centre has been opened in Liverpool with the aim to help civil service pension scheme members better understand their pensions.
The majority of senior civil servants are in favour of MyCSP, the government's mutual for managing the Principal Civil Service Pension Scheme, but 80% fear there may be changes to their benefits.
Lord Hutton, the architect of public sector pension reforms, has been appointed chairman of a newly launched civil service pension administration firm.
Guarantees given in Civil Service Pensions member communications to link benefits to the Retail Prices Index were the result of bad drafting, the government admits.
Public sector pension schemes and insurers are in line for a £500,000 windfall after authorities recovered thousands of pounds in assets from canoe fraudster John Darwin and his wife.