NS&I Contingent Liabilities Arising from Transitioning to a Multi Supplier Model

This Departmental Minute explains why NS&I assumed operational and fraud loss liabilities during its transformation programme, outlines the combined potential exposure of £2m to 2029, and acknowledges and apologises for procedural non-compliance with Parliamentary requirements. It sets out steps taken to strengthen assurance and confirms that these liabilities are essential for successful implementation of the new model without disrupting customer outcomes.