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 of the current workforce’s contributions.
Reforms in the last decade have sought to put these schemes on a more sustainable financial footing and to strike a fairer balance between the interests of pension scheme members and taxpayers, and between current and future generations.
The Committee will question senior officials at HMT and the Government Actuary Department on how the public service pensions landscape has changed since 2010 and what challenges remain. If you have evidence on these questions, please submit it here by 6:00 pm on Monday 12 April 2021.
