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Plans to transform My Civil Service Pension (MyCSP), which administers the delivery of Civil Service Pension schemes, into a ground breaking mutual joint venture, have been announced by Francis Maude, Minister for the Cabinet Office(April 12th)

This will be the first major ‘spin out’ of a central government service giving employees the opportunity to take a stake in their business.

 

The joint venture is a particular mutual model in which employees have a stake along with one or more partner organisation. This can combine the improved productivity associated with employee ownership with additional expertise and capital investment. Plans for MyCSP envisage that the Government, MyCSP employees, and a private sector partner would all have a strong material interest in the service. The potential for offering a stake to pension scheme members is also being considered. Work is now underway to develop this approach with the final structure of the partnership being shaped to provide further value for money to the taxpayer.

Minister for the Cabinet Office, Francis Maude, said:

Too often there’s been a binary choice between the Government providing a service itself, or outsourcing it to the private sector. These choices have historically been driven by a belief that services have to be controlled centrally – with a one size fits all approach that has left little room for innovation.

“We are looking for more innovative ways to structure services. We know that employees who have a stake in their business, or take ownership of it completely, have more power and motivation to improve the service they run. They can also benefit from partnerships with private or voluntary sector organisations which can bring in capital and expertise.

“For the private sector, which can no longer expect the generous margins of the past, tapping the talent of frontline staff to improve efficiency will be a priority. The state too can keep a stake so that taxpayers benefit from the rising value of an improved service.

“I’m impressed with entrepreneurial zeal of Phil Bartlett and his team at My Civil Service Pension. They are pioneering the mutual joint venture model and the Government is committed to ensuring they have they right support to succeed.

Written by Scott Buckler
Tuesday, 12 April 2011 15:03

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