Public Service Pensions: National Audit Office Report
Public Service Pensions: National Audit Office Report
04/01/2011
The report covers the Civil Service, Health Service and Teachers Superannuation Schemes but not the Local Government Scheme.
Click here to download pdf circular
Click here to download pdf Report by the Comptoller and Auditor General
Click here to download pdf National Audit Office Report
Dear Colleague
Please see attached a report by the National Audit Office on the savings projected as a result of a number of changes that were made to public sector pension schemes in 2007‑2008.
The report covers the Civil Service, Health Service and Teachers Superannuation Schemes but not the Local Government Scheme.
While the report is highly technical it does conclude that the changes that have already been made to the three Schemes referred to above will reduce the costs to taxpayers in 2059-60 by 14%. The aggregate savings over all the years in the period up to 2059-60 are equivalent to a saving of £67bn in 2008/09 prices.
This report demonstrates that public service workers are already making a major contribution to the sustainability of their pensions. The report highlights that the savings are being provided by public sector employees in the form of increased contributions or reduced future pensions.
Despite this the interim report from John Hutton has recommended that public servants should pay on average an additional 3% of pay towards their pensions.
NIPSA will be making a further submission to the Hutton Review of Public Service Pensions. The final report by Hutton is expected to issue early in 2011.
Further circulars will be issued to branches as developments occur.
Yours sincerely
BRIAN CAMPFIELD
General Secretary
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