MyCSP

What MyCSP does

MyCSP is a UK mutual joint venture that administers the Principal Civil Service Pension Scheme on behalf of the Cabinet Office, serving 1.5 million active, deferred and pensioner members across 340 public-sector employers and paying out over £6 billion annually to 670,000 pensioners. The company was established in 2012 as the UK central government's first mutual spin-out and is owned 51% by Equiniti Group, 24% by HM Government and 25% by its employee partners through the MyCSP Trust Company. Operations are delivered from offices in Liverpool (head office and MyInnovation Centre), Cheadle and Newcastle, with registered offices at Landmark House, Cheadle Hulme.

The core technology estate comprises Compendia, an in-house pension administration platform implemented across 15 Defined Benefit, Defined Contribution and Hybrid schemes, together with proprietary engagement products such as the multi-award-winning Pension Power programme and the MyInnovation Centre digital training infrastructure. Surrounding products include Training@MyCSP (Employer Learning and Member Learning), Consultancy Services, and Agile Services that supply short-term or outsourced pension problem-solving to clients such as BAE Systems, NHS bodies and City Health Care Partnership.

Revenue is generated primarily through a long-duration managed services contract with the Cabinet Office for scheme administration, supplemented by paid training courses, seminars, webinars, consultancy, and agile engagements with both public and private-sector clients. Pricing is contract-based and not publicly disclosed. In 2013/14 the company reported revenue of £42.1 million (31% year-on-year growth) and profit before tax of £5.2 million (131% growth), supported by a mutual employee-ownership model that has delivered 81-89% positive employee engagement scores and 15% year-on-year productivity improvement. Certifications include ISO27001, PASA, Customer Service Excellence, Cyber Essentials Plus and Investors in People Gold.

Name

MyCSP

Legal name

MyCSP Ltd

Website

https://mycsp.co.uk

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

101–250 employees

Short description

MyCSP is a UK mutual joint venture that administers the Principal Civil Service Pension Scheme for 1.5 million members across 340 public-sector employers, while delivering training, consultancy and agile pension services to public and private-sector clients.

Ownership category

akta.pro rank

Product category

Pension Administration Services

NAICS

Pension Funds (52511), Payroll Services (541214)

akta.pro primary industry

Pensions & Retirement Benefits Administration (BPAIAKAA)

akta.pro secondary industry

Payroll & Employment Tax Services (BPAHABAD)

Keywords

• Pension administration services
• Public sector pensions
• Defined benefit schemes
• Pension training education
• Pension scheme management

Headquarters

HQ city

Cheadle

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Civil Service Pension Scheme Administration Contract: MyCSP operates under a seven-year contract awarded by the Cabinet Office in 2012 (later extended) to administer the Principal Civil Service Pension Scheme, processing pension payments and managing member records for over 1.5 million members.
2. Training and Consultancy Services: MyCSP generates revenue by providing paid training courses, seminars, webinars, and consultancy services to employers and pension scheme members. This includes employer learning, member learning, and specialist pension tax guidance sessions.
3. Private Sector Pension Administration: MyCSP expanded into private sector client services, providing pension administration and support to private organisations including BAE Systems, NHS clients, and City Health Partnership.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

MyCSP provides outsourced pension administration, training, and consultancy services primarily to UK public sector employers. It administers the Principal Civil Service Pension Scheme serving over 1.5 million members across 340 employers, processing payments for 670,000 pensioners exceeding £6 billion annually. The company also delivers pension learning programmes (Employer Learning and Member Learning) and agile consultancy services to public and private sector clients.

Product overview

MyCSP is a mutual joint venture pension administrator offering a unified platform of pension administration services. The core offering is Pensions Administration for Defined Benefit, Defined Contribution and Hybrid pension schemes, supported by complementary Training@MyCSP services (Employer Learning, Member Learning, and Pension Power engagement product), Consultancy Services, and Agile Services. The company administers the Civil Service Pension Scheme for over 1.5 million members and 340 employers. The Training Academy and MyInnovation Centre provide dedicated learning facilities, while the Community Fund supports employee charitable initiatives. The company operates as a mutual with 25% employee ownership and is a subsidiary of EQ Paymaster.

Differentiator

Problem solved

Functional benefit

Brands

• Training@MyCSP: Leading provider of pensions learning and education services to UK pension schemes.
• Pension Power
• MyInnovation Centre
• The Process

Products and services

• Pensions Administration Full-service pension administration for public and private sector Defined Benefit, Defined Contribution and Hybrid pension schemes, administering records for over 1.5 million members across 340 employers and paying 670,000 pensioners over £6 billion annually.
• Consultancy Services Pension process consultancy and support services tailored to each employer's requirements, offering design and advisory services to public sector and private sector clients.
• Agile Services Business problem support services for organisations needing specific short-term stopgap or outsourced solutions, providing industry-leading pension knowledge and expertise to clients including BAE Systems, NHS, and City Health Partnership.
• Training@MyCSP Leading provider of pensions learning and education services to UK pension schemes, specialising in informative and interactive sessions for employers and members covering the complex world of pensions, including Employer Learning and Member Learning course portfolios.
• Pension Tax Support Service Specialist pension tax guidance service helping HR managers and public sector employers communicate and manage pension tax changes including Lifetime Allowance and Annual Allowance reforms.

Quantifiable outcome

• 31% revenue growth and 131% profit before tax growth in 2013/14 financial year
• +4 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• MyCSP Trust Company LtdcoreStrategic or Co-development PartnerMyCSP Trust Company Ltd holds 25% of MyCSP shares on behalf of employee partners. Mark Lund serves as Chair of MyCSP Trust Company Limited. The trust ensures employee ownership structure is maintained and employee partners benefit from company success.
• CIPFA (Chartered Institute of Public Finance and Accountancy)minorStrategic or Co-development PartnerMyCSP co-hosted a joint seminar with CIPFA in 2012 to explore alternative models for delivering LGPS pension administration, attended by over a third of LGPS funds in England.
• Sysco (Training Partner for Apprenticeships)minorImplementation/ SI/ Consulting PartnerSysco provides one day per week business administration training to MyCSP apprentices as part of the national apprenticeship scheme.

Scale indicators13 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Equiniti Group: Equiniti is MyCSP's 51% owner and also operates broader pension administration and share registration services; as the strategic parent and a wider-market incumbent, it is a directly relevant but broader peer.
• Aon: Aon's UK Retirement business provides pensions administration, actuarial and investment advice to corporate and public sector schemes - a broad global incumbent directly comparable in pension scheme administration and advisory services.
• Willis Towers Watson: WTW provides pensions administration, actuarial and benefits consulting across UK corporate and public sector schemes - a broad incumbent offering directly comparable pension administration and member engagement services.
• Mercer: Mercer (Marsh McLennan) is a global pensions administration, actuarial and investment consulting incumbent with substantial UK corporate and public sector scheme administration - a broad incumbent operating in the same space as MyCSP.

Direct peers

• Isio: Isio (formed from the Punter Southall merger) is a UK specialist pensions administration, actuarial and advisory firm competing directly for DB and DC scheme administration mandates comparable to MyCSP's core offering.
• XPS Pensions Group: XPS Pensions Group is a UK-listed specialist pensions administrator and consultancy providing administration, actuarial and consulting services to DB, DC and hybrid schemes - directly comparable to MyCSP's core pension administration and consultancy offering.
• Hymans Robertson: Hymans Robertson provides pensions administration, actuarial and investment consulting to UK public and private sector schemes, with particular strength in LGPS - directly comparable to MyCSP's pension administration and consultancy focus.
• Barnett Waddingham: Barnett Waddingham is a UK actuarial and pensions administration firm with significant LGPS and corporate scheme administration business, directly comparable to MyCSP in scheme administration and member engagement services.
• Capita: Capita previously administered the Civil Service Pension Scheme in payment and deferred records before transferring the work to MyCSP in September 2014, making it the most directly comparable UK pension administration peer and a likely re-tender competitor.

Emerging players

• Penfida: Penfida is a UK specialist pension scheme advisory and transaction-focused firm; while smaller and more advisory-led than MyCSP, it operates in adjacent pension scheme administration and member services for UK schemes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MyCSP