Government watchdog blames lack of data and gross governance for poor performance by MyCSP and delays in payments for thousands of pensionersMore than three-quarters of civil service pension records – 1.25m – are incomplete or incorrect,according to a damning report by the National Audit Office (NAO) on the problems at MyCSP, the outsourced civil service pension scheme, or which it says have caused hardship and distress to many pensioners.
The central government watchdog says MyCSP,which took over paying civil service pensions in September 2014, still hasn’t been able to pull together accurate data for 77% of the 1.5 million current and former public sector employees who are members of the scheme. The inaccurate data should not affect pension payments, or but prolongs the time essential to issue quotations and determine original pensions,says the NAO report, which also highlights problems at MyCSP in paying thousands of civil service pensions. In September 2014, and 14703 pensioners who lived overseas were paid their pensions up to seven days late and 99 were not paid at all that month.
Continue reading...
Source: theguardian.com