2016 Report details for project: New State Pension Project

Project name: New State Pension Project - there are 2 reports for this project: 2015, 2016
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Organisation: DWP (D10) - see all reports for this organisation
Report year: 2016 (data is from Sept 2015)
Category: Transformation - see all reports for this category
Description: This project will introduce the new State Pension and end both Savings Credit and contracting-out from defined benefit pension schemes. The programme is delivering a significant simplification of the current system, by moving to a single State Pension, set above the level of the basic means tested benefit. This, together with abolition of the Savings Credit, will provide today’s savers with greater clarity about what they will receive from the state. It also reduces the number of people reliant on the basic means test. The Department is also abolishing contracting out from defined benefit pension schemes. To ensure fairness the calculation of new State Pension will recognise pre-2016 National Insurance records. This DWP led project has worked closely with HMRC to deliver the necessary changes to systems, processes and effective communications to a wide range of stakeholders (including current and future pensioners, employers, trustees and scheme providers).
DCA (RAG): Amber/Green
DCA text: Following the last IPA review, the Programme Board has reviewed the current and future suite of external communications to ensure their clarity, fitness for purpose and alignment with customer insight. This has been used to refine the next phase of the projects communications campaign, which started in early 2016, and the future communications strategy which will continue beyond April 2016. The Programme is also continuing to develop the criteria and management information to complete the handover to business as usual by summer 2016.
Start date: 2012-02-27
End date: 2016-06-30
Schedule text: The new State Pension officially went live at the end of December 2015 with the first advance claims taken and processed, and due for payment in April 2016. The first new claims are being supported by “live proving” to ensure the complex calculations and the corresponding responses to customers are correct. HMRC have made the necessary changes to reflect the end of contracting out from April 2016.
Baseline: £44.82m
Forecast: £30.00m
Variance: -33.07%
Variance text: The variance reflects reductions in HMRC business costs following updated planning information.
Whole Life Cost: £174.11m
WLCost text: The budgeted whole life costs were set in December 2014 and have seen material reductions in requirements for both DWP IT, and other costs and HMRC IT and Operational costs.
Sourcefile: IPA_2016.csv

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