Policy paper
NS&I Contingent Liabilities Arising from Transitioning to a Multi Supplier Model
Departmental Minute notifying Parliament of new NS&I contingent liabilities following its move to a multi-supplier delivery model
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This Departmental Minute explains why NS&I assumed operational and fraud loss liabilities during its transformation programme, outlines the combined potential exposure of £2m to 2029, and acknowledges and apologises for procedural non-compliance with Parliamentary requirements. It sets out steps taken to strengthen assurance and confirms that these liabilities are essential for successful implementation of the new model without disrupting customer outcomes.
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Published 17 December 2025