Public sector pensions
Public Accounts Committee
Closed
Inquiry
As at 31 March 2020 the UK’s major public service pension schemes had over 8 million members, including active and deferred members and current pensioners – a significant part of the national pensions “landscape”. Most of the main public service pension schemes are unfunded, with pension payments paid for out …
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10
Recommendations
15
Conclusions
1
Report
1
Oral session
1
Letter
1
Event
Activity timeline 4 events
2 Sep
2021
2021
11 Jun
2021
2021
Report published
19 May
2021
2021
Oral evidence sessions 1 session
22 Apr 2021
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Affordability of public sector pensions; Supply chain financing and the operation of Covid finance facilities; Equitable Life
Cat Little · Cabinet Office
Charles Roxburgh · HM Treasury
Martin Clarke · Government Actuary’s Department (GAD)
Mike Williams · HM Treasury
Sir Tom Scholar · HM Treasury
Reports 1 report · click to expand
| Title | HC No. | Published | Items | Response |
|---|---|---|---|---|
| Sixth Report - Public Sector Pensions | HC 289 | 11 Jun 2021 | 25 | Responded |
Recommendations & Conclusions
4 results
1
Conclusion
Acknowledged
Sixth Report - Public Sector Pensi…
On the basis of a report by the Comptroller and Auditor General, we took evidence...
On the basis of a report by the Comptroller and Auditor General, we took evidence from HM Treasury and the Government Actuary’s Department about public service pensions.1
Government Response
The government response reiterated the committee's opening statement about taking evidence and confirmed the report publication and the nature of the current document.
HM Treasury
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7
Conclusion
Acknowledged
Sixth Report - Public Sector Pensi…
As a part of the 2011–2015 reforms, HM Treasury offered ‘transitional protection’ to those closest...
As a part of the 2011–2015 reforms, HM Treasury offered ‘transitional protection’ to those closest to retirement. This meant that scheme members within 10 years of their normal retirement age would see no change to their pension age or their …
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Government Response
The government response reiterated the factual background of the public service pension reforms, including the McCloud judgment and its finding that transitional protections were discriminatory.
HM Treasury
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23
Conclusion
Acknowledged
Sixth Report - Public Sector Pensi…
The National Audit Office found there were stark differences in the average pension received by...
The National Audit Office found there were stark differences in the average pension received by scheme members, when analysed by gender. Their report identified that the average pensioner is paid £10,000 annually, but there is a 45% gap in the …
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Government Response
The government acknowledges the gender pension gap, attributing it to historical pay differences and existing pay gap reporting, and stating it agrees on the importance of collecting and analysing data on the drivers of these differences.
HM Treasury
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24
Conclusion
Acknowledged
Sixth Report - Public Sector Pensi…
HM Treasury told us it does not collect and analyse data on how pension outcomes...
HM Treasury told us it does not collect and analyse data on how pension outcomes differ across groups of scheme members or across generations.57 GAD told us that insufficient data means government is unable to analyse similar gaps that are …
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Government Response
The government acknowledges the importance of collecting and analysing data on the drivers of pension differences, but highlights practical challenges and data protection regulations regarding collecting data on protected characteristics beyond age and gender.
HM Treasury
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Correspondence 1 letter
19 May 2021
Correspondence from Catherine Little, Director General Public Spending Head of Government Finance Function, HM Treasury, re Public Accounts Committee – Session of 22 April 2021, dated 12 May 2021
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