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Pensions reform update – 21 December 2011
The Treasury has made an announcement about the long term reform of public service pensions – including the Principal Civil Service Pension Scheme - http://www.hm-treasury.gov.uk/
The Government has confirmed that the talks have been constructive and have resulted in heads of agreement with the majority of Civil Service unions.
- View the overview of the offer – which will apply from 2015
- View the Q&A
- View the Written Ministerial Statement [External website]
Previous announcements
November update – Proposed reforms to Civil Service Pensions
- More details on this announcement
- Archived questions and answers
- Calculator for the proposed scheme - The calculator previously available here will be replaced by a revised calculator early in the New Year. The calculator showed the Government’s preferred scheme with the 2 November offer. The proposed scheme is different and so the current calculator would give results that are now incorrect.
- Pension reforms leaflet [2 pages, 139KB PDF]
Increase to pensions employee contribution
The Government has announced changes to the contribution rates that some civil servants will pay to their Civil Service pension from April 2012. Lower earners will be protected from any increase.