MyCSP pays Employee Partners first dividend
4 Jul 2013
ChildLine benefits from MyCSP’s first year of business.
MyCSP, the first mutual joint venture to spin out of government, which administers the pensions of some 230 current and ex-government departments, has announced its first dividend payment to MyCSP employee partners.
MyCSP Employee Partners own a 25% stake in the business alongside HM Government and Equiniti Paymaster who own 35% and 40% respectively.
MyCSP’s first year of business saw each eligible employee receiving a payment in the region of £700.
MyCSP chief executive, Nicky Hurst, commented:
“MyCSP has had a successful first year, transforming the business to reduce the cost of administration to our client and delivering a profit to our shareholders. As such, our employee partners also benefit as part-owners in the business. We are delighted to announce such positive news, especially on the first national Employee Ownership Day.
MyCSP also announced today that it will donate £13,946 to its corporate charity, ChildLine. As part of MyCSP’s mutual ethos, the company is donating 1% of net profits to charity. MyCSP’s contribution will help ChildLine to continue to provide the UK's free, confidential helpline dedicated to children and young people, 24 hours a day, 7 days a week, 365 days per year.
Ben Swart, NSPCC head of new business said: “I would like to say a huge thank you to all the staff at MyCSP for their commitment and dedication for raising a fantastic amount of money for ChildLine that will make a real difference to the lives of children and young people.
As a volunteer-led charity we rely on the generosity of the public and this fantastic donation by MyCSP will help ensure we can answer even more cries for help from children.”
In addition to the donation to ChildLine, MyCSP’s employee partners have supported their chosen charities through a monthly draw, where an employee partner is selected at random to nominate a charity for a donation. As a result, the following charities will also receive a donation from MyCSP: St Ann’s Hospice; The Dog’s Trust; The Stroke Association; St Barnabas Hospice; The Cardiomyopathy Association; and Breast Cancer Care.
As well as providing financial support, MyCSP’s has also donated 325 hours of its employee partners’ time for volunteering with charities and community groups. The programme has seen employee partners volunteering with the Charity for Civil Servants, Mission Albania, Shelter, Arthritis Care, Wellington Riding for the Disabled and the Elim Pentecostal Church Corporation.
Employee partners have provided support in numerous ways including helping at a charity fete, managing an online forum, undertaking a first aid course to enable them to volunteer in their own time, through to travelling overseas to support the poor and sick in communities in India.
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