House of Commons Library briefing papers: Public service pensions reform
Released 7 November 2018
The House of Commons Library has published two briefing papers looking at reforms to public service pensions by the Labour and Coalition governments.
Public service pension age - the Labour Government's reforms looks at reforms introduced by the Labour Government, including the increased normal pension age for new entrants (but not existing members) to most public schemes. For example, in the schemes for the NHS, teachers’ and civil servants, the normal pension age was set at 65 for new entrants compared to 60 for existing members. In addition, “cap and share” arrangements were introduced, with the aim of ensuring that increases in the cost of pension benefits, identified at scheme valuations would be shared between employers and employees, up to an agreed cap on employer contributions.
Public service pension age - 2015 onwards looks at the changes to the normal pension age as part of the Coalition Government's reforms to public service pensions. In particular, the Public Service Pensions Act 2013 provided a framework for new schemes to be introduced for future service from 2015 (2014 for local government, including linking normal pension age to the State Pension age, except for the schemes for firefighters, police and armed forces, which are to have a normal pension age of 60.
View the briefing papers: