MyCSP pays out £700 dividends to employee owners

Employee-owned business MyCSP has paid out its first dividend payment to employees.

The mutual joint venture, which administers the pensions of some 230 current and ex-government departments, has paid out an average of £700 to each eligible employee.

MyCSP employees own a 25% stake in the organisation, alongside the government and Equiniti Paymaster, which own 35% and 40%, respectively.

Nicky Hurst (pictured), chief executive at MyCSP, said: “MyCSP has had a successful first year, transforming the business to deliver a profit to our shareholders.

“As such, our employee partners also benefit as part owners in the organisation.”