Agreement reached on public sector pensions

The Government and trade unions have reached an agreement over the reform of public sector pension schemes for civil servants, NHS workers and teachers.

Original proposals by the Government to raise the retirement age to 65 for current members of public sector schemes have been dropped. However, the deal will see a pension age of 65 introduced for new entrants to the schemes from next year.

The local government pension scheme and the fire-fighters scheme are being discussed separately.

  • Agreement reached on public sector pensions   The Government News Network website has more.

  • Existing civil servants to keep option of retiring at 60   personneltoday.com reports.

  • Amicus reaction and TUC response   Read initial reactions to the announcement, on the Amicus and the TUC websites.

    Also

    Public sector deal excludes local government and Deadline looms for bridging the LGPS funding gap   From IRS journal Occupational Pensions.

    Factfile: Public service pension schemes   A round-up of statistical data on public service pension schemes.

    Pensions: the basics   Detailed legal guidance from HR & Compliance Centre's reference manual.