2021 Report details for project: Civil Service Pensions 2015 Remedy
Project name | Civil Service Pensions 2015 Remedy - there are 3 reports for this project: 2021, 2022, 2023 |
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Organisation | CO (D2 ) - see all reports for this organisation |
Report year | 2021 (data is from March 2021) |
Category | Transformation - see all reports for this category |
Description: | The 2015 Pensions Remedy Programme was created to end age discrimination within the Civil Service Pension Schemes and is also creating solutions to remediate any affected historic members. |
DCA (RAG) | Amber |
DCA text: | The Infrastructure Project Authority's Delivery Confidence Assessment rating is Amber.This is primarily due to the following factors: The delivery plan is being attained with all milestones being met within tolerance. Future milestones are currently in-scope to be met however this is dependant on legislation and taxation decisions which are still to be made by HMT and HMRC respectively. |
Start date | 2020-05-20 |
End date | 2024-09-30 |
Schedule text | The project end-date is 30 September 2024. This is primarily due to the following factors: The Programme will close the legacy pension schemes and move to a new single scheme from April 2022 thus ending the discrimination. This will be complimented with work to historically rectify any members who may have been subject to discrimination and our planning forecasts that the vast majority of this work will be completed by late 2023. |
Baseline | £5.20m |
Forecast | £1.50m |
Variance | -71.00% |
Variance text: | The budget variance exceeds 5%. When the budget was set it was assumed that concept and early design work would be further advanced. Largely due to legislative dependencies and the post public consultation timetable, a degree of the scoping and design work has occurred later than originally forecast, hence the underspend. |
Whole Life Cost | £40.86m |
WLCost text: | The projects Baseline Whole Life Cost is £40.86m. This is primarily due to the following factors: The budget is likely to be further refined as the detailed scope becomes clearer. |
Notes1: | |
Notes2: | |
Sourcefile | IPA_2021.csv |
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Acknowledgement: GMPP data has been re-used under the Open Government Licence.