MyCSP, the first central Government mutual which last month won the contract to administer the Civil Service Pension Scheme, has secured 15 new contracts.

MyCSP Ltd’s innovative Mutual Joint Venture model gives employees a 25 per cent ownership stake, representation at board level and a share in profits. It ends the binary choice between private and state provision. The Equiniti Group’s Paymaster business has a 40 per cent stake, and the Government has retained a 35 per cent stake so taxpayers benefit as the business grows in value.

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