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.
Concerns over the potential imminent collapse of construction group Carillion has led to crisis talks over its 13 UK defined benefit (DB) schemes, according to reports.
The Cabinet Office has named Legal & General as the preferred provider for the civil service's defined contribution (DC) scheme.
Government-backed liabilities in the Royal Mail Statutory Pension Scheme (RMSPS) rocketed more than £8bn over the year to 31 March, according to Cabinet Office documents.
PP finds potential political interference in the LGPS on divestment decisions is causing concern.
Trustees looking to understand what can go wrong with data transfers should read the NAO's report on the civil service Michael Klimes finds
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.
The MyCSP chief executive tells Michael Klimes about the challenges of bringing its administration in-house which led to pensioners not being paid on time
The revelation that MyCSP has thousands of members which have experienced delayed or missed payments; is a stark tale about the difficulties of data transfer.
MyCSP has blamed a backlog of 47,000 member enquiries inherited from Capita when it took administration in-house for delayed payments to members.
The Department for Communities and Local Government (DCLG) has confirmed it is considering a single, national Local Government Pension Scheme (LGPS) fund.
The transformation of MyCSP from a government agency to a mutual joint venture was hampered by complexity and poor data, the National Audit Office (NAO) has found.
A national procurement framework for local government pension schemes (LGPS) looking for investment consultancy has been launched.
Ministry of Defence firefighters are seeking an amendment in the Public Service Pensions Bill, potentially delaying the legislation.
A war of words between a senior Tory minister and a vocal backbencher has escalated over the terms of the ministerial pension scheme.
The pensions industry has used the Cabinet Office's ‘red tape challenge' to increase pressure on the government to abandon plans on Guaranteed Minimum Pension equalisation.
The Cabinet Office has revised the terms of the ministerial pension scheme to prevent ministers receiving a higher pay-out for increased contributions.
Lord Hutton, the architect of public sector pension reforms, has been appointed chairman of a newly launched civil service pension administration firm.
Actuarial firms are in danger of being swept up in a government attempt to clean up the lobbying industry, the Association of Consulting Actuaries warns.
The Cabinet Office is investigating claims that revisions to the ministerial pension scheme will increase pay-outs for the highest-paid members of the government.
The Cabinet will contribute an additional 2.4% of their salary into the ministerial pension scheme from next month, amid hotly-disputed pension reform elsewhere in the public sector.
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.