National Savings annual report and accounts 1999/2000

House of Commons papers 1999-00 884

Format:

Corporate Author:

National Savings

Author:

Bareau Peter chief executive

Publisher:

TSO (The Stationery Office)

The major development in 1999/00 was the outsourcing of operations to Siemens Business Systems, on a 10 year contract. This involved the transfer of over 4,000 employees and it could be the largest outsourcing of its kind in the public sector or the financial services sector. During 1999/00 National Savings' accounted for 10.5% of deposit based savings accounts and bonds in the UK.