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Consultation on the appointment of a new provider for the Civil Service Defined Contribution Pension Schemes.
This consultation ran from to
Cabinet Office as Scheme Manager is seeking to make changes to the providers
of the Civil Service Defined Contribution (DC) Pension Schemes, so that the
schemes remain suitable. Specifically, Cabinet Office is seeking to appoint a single provider
for the DC pension schemes to:
ensure a wide variety of investment options are available for members
reduce charges paid by members
increase access to flexible benefit options directly from the pension schemes
simplify the administration requirements for employers
simplify the governance requirements for the Scheme Manager
Following a robust procurement exercise the Scheme Manager has identified
Legal and General as the preferred provider. We welcome members’ comments
on the selection of Legal and General, the transition process should the changes
proceed and future scheme developments.