We are a new kind of pensions mutual company

The Partnership Model

Our innovative partnership model has been designed to retain the value of our extensive public sector administration knowledge and experience and bring in new investment and expertise from our private sector partner to create a thriving new business.

At the cutting edge of public service reform, MyCSP is the Government’s pioneering mutual, breaking fresh ground with an innovative business model. It is a unique mutual joint venture partnership between employee partners, central Government and a private sector partner Paymaster, part of the Equiniti Group.

The partnership is designed to retain the value of extensive public sector administration knowledge and experience, with new investment, new commercial and new technical expertise from the private sector, to create a thriving new business.

MyCSP is a mutual organisation with a dedicated Mutual Guardian, an elected Employee Partnership Council and a 25% material stake in the business held in trust for employee partners. The employee partners' stake in the Company is held in trust by MyCSP Trustee Company Ltd, known as the Employee Benefit Trust. This Employee Benefit Trust has a professional Director, Mark Lund and two employee trustee Directors Tom Fletcher and Louise Burns.

An elected Employee Partnership Council represents employee partners in all aspects of the business. Employee partners fulfil a key role in governance and decision making through the Employee Partnership Council’s representation on the main company Board and its seat on the Executive Management Team. There are currently eight elected members of the Employee Partnership Council.

MyCSP has a dedicated Mutual Guardian, Sharon Crosland, preserving the company’s mutual ethos.

MyCSP’s service is growing to help Civil Service pension scheme members better understand the pensions they have. Its success sends a clear signal that mutuals, where employees have a significant say in how the business is run, can deliver a better, more efficient service for their customers.

Francis Maude - Minister for the Cabinet Office