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Civil Servants: Pensions

Cabinet Office written question – answered on 24th November 2011.

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Photo of Mary Glindon Mary Glindon Labour, North Tyneside

To ask the Minister for the Cabinet Office

(1) how much funding from the (a) public purse and (b) private sector has been allocated to the mutualisation of MyCSP;

(2) how much funding from (a) the public purse and (b) the private sector has been allocated to the mutualisation of MyCSP.

Photo of Francis Maude Francis Maude The Paymaster General and Minister for the Cabinet Office

The work to transform the management and administration of the Principal Civil Service Pension Scheme has been under way for some time and has included the creation of MyCSP and now its mutualisation.

While MyCSP is part of government, its transformation is provisioned by Cabinet Office and subject to an approved business case. A competition is currently under way to select a private sector partner to contribute to this mutualisation and transformation through share participation in the MyCSP mutual joint venture. As this process is under way at the moment it would be inappropriate to make any further statement at this time.

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