Civil Service Pensions 2015 Remedy

Rating: Compared to financial year 23/24-Q4, the Infrastructure Project Authority's Delivery Confidence Assessment rating at 24/25-Q4 decreased from AMBER to RED. This is primarily due to the following factors; the current supplier has delivered the majority of the requirements, it is now on track to complete the agreed remaining work within their contract. In the Gate 5 review undertaken in February 2025, the IPA agreed that the residual work should be completed as a separate project (Remedy Project 7) and rated the programme AMBER We have in place a contract change notice with our current suppliers to issue a minimum 44% of the remedial service statements to retired members by 31 March 2025 and to have processed all returned member decisions received up to 30 October by 28 November (final payroll run before transition to Capita)

Schedule: Compared to financial year 23/24-Q4, the project's end-date at 24/25-Q4 changed from 30/07/2024 to 30/06/2025. This is primarily due to the following factors; the original programme closure date was predicated on the associated legislation being in place in 2022. The scheme regulations needed to remediate members did not come into force until 1 October 2023 which gave schemes 18 months to provide members with a choice i.e. 31 March 2025. Following our IPA review in February 2024 it was agreed that the Programme should be extended to 30 June 2025 then move to a portfolio delivery for the remaining 4 projects

Cost: Compared to financial year 23/24-Q4, the project's departmentally agreed Whole Life Cost at 24/25-Q4 (measured in £m) increased from 34 to 50. The initial budget as set out in the SOC was £57M. This has been proven to be closer than the reduction estimated at FBC in 2022. The higher costs has been due to a number of factors such as: lack of automation necessitating more manual interventions, complexity of member accounts as we need to rebuild alternative benefit calculations and data issues

Source: NISTA Annual Report 2024-25 (data)

Rating: Compared to financial year 22/23-Q4, the Senior Responsible Owner's Delivery Confidence Assessment rating at 23/24-Q4 remained at Amber. This is primarily due to the following factors. We received an AMBER rating following our IPA in January 2024. We have fully implemented all of the recommendations. _x000D_ _x000D_ We have delivered against target to return active and deferred member's accounts to their pre-2015 position (Rollback). We have established a process to enable these members to have a choice at the point of retirement as to how they wish their Remedy period (1 April 2015 - 31 March 2022) to be calculated (DCU)._x000D_ _x000D_ We are on track to deliver the retired member group a similar pension choice exercise by the 31 March 2025 via a Remedial Service Statement (RSS)

Schedule: Compared to financial year 22/23-Q4, the project's end-date at 23/24-Q4 remained schedule to finish on 2024-09-30. This is primarily due to the following factors. We are on track but running at risk on rollout of the Remedial Service Statements (RSS) by the 31 March 2025.

Cost: Compared to financial year 22/23-Q4, the project's departmental-agree Whole Life Cost at 23/24-Q4 remained at 34m. This is primarily due to the following factors. We have undertaken our final year forecasting which shows us on track to spend to budget of 33.5M

Source: IPA Annual Report 2023-24 (data)