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Increases in employee contributions to public sector pension schemes in Scotland from April 2012

Lord Hutton of FurnessIn October 2010, Lord Hutton of Furness published the interim report of his independent review of public sector pensions, commissioned by the Chancellor of the Exchequer.  This included a conclusion that, if the UK Government wished to make savings to the costs of public sector pension schemes in the short term, it would be more effective to increase member contributions rather than alter the benefit structure of schemes. 

Read more: Increases in employee contributions to public sector pension schemes in Scotland from April 2012

 

STSS Benefit Statements Explained

Friday, 28 January 2011 09:47

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If you require a more detailed explantation of your benefit statement then please access our guide. Benefit Statement explained.

 

Changes to the 2011 Pension Increase

Wednesday, 15 December 2010 09:49

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The UK Government's Budget on 22nd June 2010 announced the intention to switch the basis of uprating public service pensions from the Retail Prices Index (RPI) to the Consumer Prices Index (CPI). The decision on annual uprating is reserved to the UK Government and accordingly applied to the schemes in Scotland.

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HM Treasury Guidance on CETV and CPI Changes

Sunday, 08 August 2010 00:00

HM TreasuryThe Treasury has released Updated guidance on the discount rate for use in calculating CETV's.  Guidance document

There are also Questions and Answers about the change from RPI to CPI as announced in the June Budget.  Questions and Answers

 

Independent Public Service Pensions Commission (IPSPC)

Public service pensions are the subject of a UK Government review, taken forward by the Independent Public Service Pensions Commission (IPSPC), chaired by John Hutton. Pensions policy is a reserved issue.  Scottish Ministers have limited devolved responsibilities for some public service pension schemes and have already moved to ensure those schemes are affordable, sustainable and fairer.  The Cabinet Secretary for Finance and Sustainable Growth has written to the Chief Secretary to the Treasury; recognising the need for further consideration of public service costs; asking for a thorough process of engagement with Scottish stakeholders in the pensions review; and offering to meet the Commission's chairman, John Hutton.

 

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