2015 Report details for project: New Civil Service 2015 Pension Scheme Implementation

Project name: New Civil Service 2015 Pension Scheme Implementation - there are 3 reports for this project: 2014, 2015, 2016
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Organisation: CO (D2) - see all reports for this organisation
Report year: 2015 (data is from Sept 2014)
Category: Transformation - see all reports for this category
Description: The purpose of the programme is to manage the successful delivery of the new pension arrangements against published timetables. Critical success factors: • Administration system, associated processes and all scheme documentation will be updated to be compliant with final regulations, enabling the scheme administrators (MyCSP Limited) to effectively manage members' benefits under the new scheme in line with SMB Contract requirements. • All members and prospective members will understand how they are affected by the new scheme, based on regular, clear and effective communication. • Where members are able to choose when they transfer to the new scheme, members will have had sufficient information to make a choice. • All employers have been provided with information and guidance to enable them to put members in the right scheme at the right time.
DCA (RAG): Amber
DCA text: • The new alpha pension scheme went 'live' on 01/04/15. The new legislation took effect and business processes and IT changes were ready to manage members' benefits under the new Civil Service Pensions arrangements. The focus is now on embedding the changes into 'Business as Usual'. • All key Communications have been issued, including guidance for employers to support them through the changes. • The main Options Exercise is complete, and processes are in place to manage exceptional member cases that arise.
Start date: 2013-04-15
End date: 2016-06-30
Schedule text: The new pension arrangements were implemented from 1/4/2015 as planned, and work continues on embedding the changes into the 'Business as Usual' administrative arrangements.
Baseline: £11.70m
Forecast: £11.40m
Variance: -3.00%
Variance text: Budget variance less than 5%
Whole Life Cost: £13.40m
WLCost text: We received financial approval for 13.4m WLC in 2013. Continue to monitor and forecast costs.
Sourcefile: IPA_2015.csv

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Acknowledgement: GMPP data has been re-used under the Open Government Licence.