Recently in Pensions Category

Public service pension reforms "unlikely to save money"

The public service pension reforms currently being negotiated will make "little or no difference to the long-term costs", according to analysis by researchers at the Institute for Fiscal Studies (IFS). Discussions over the reform of public service pensions have been protracted and difficult, and have resulted in two days of industrial action. The IFS report finds that savings made as a result of increasing the age at which employees can take their pension are, on average, offset by changes to other elements.

Continue reading Public service pension reforms "unlikely to save money".

Posted by Rachel Sharp
on January 31, 2012 11:23 AM

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Occupational pension scheme membership continues to fall

The number of active members of occupational pension schemes fell to 8.3 million in 2010, the lowest level since the 1950s, according to the Occupational Pension Schemes Survey 2010 (external site) published by the Office for National Statistics (ONS) today.

Of the 8.3 million active members, almost two-thirds (5.3 million) were in public sector schemes, down from 5.4 million in 2009. There were 3 million active members in private sector schemes, down 0.3 million on 2009, continuing a decline that started in the early 1990s - in 1991, there were 6.5 million active members in private sector schemes.

Active members make up around one-third of total occupational scheme membership, with pensions in payment accounting for a further 33% and preserved pension entitlements 36%.

Continue reading Occupational pension scheme membership continues to fall.

Posted by Rachel Sharp
on October 27, 2011 3:00 PM

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Legal challenge to pensions uprating change

Today (25 October 2011) sees the start of legal challenges by unions and pensioners' organisations to the Government's decision to change the inflation measure for uprating public service pensions from the retail prices index (RPI) to the consumer prices index (CPI), which is usually lower.

The Government faces two challenges to the change, which was announced in the emergency Budget in June 2010 and came into effect in April this year. The judicial review hearings start today and are expected to last for three days.

Continue reading Legal challenge to pensions uprating change.

Posted by Rachel Sharp
on October 25, 2011 9:30 AM

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Public sector pensions reform: scheme-level discussions to start

The Government and the TUC are to begin scheme-level talks on public sector pensions reform. These will run alongside the central talks on the recommendations made by the Independent Public Service Pensions Commission led by Lord Hutton. The scheme-level discussions aim to "ensure a fuller understanding of the implications of reforms, before final conclusions are reached".

Relations between the Government and the unions have been tense, with teachers and civil servants holding a strike on 30 June 2011 in protest against the proposed pension changes. In his written ministerial statement on 19 July 2011, chief secretary to the Treasury Danny Alexander said: "A basis for agreement has been established in several areas, but differences remain on some of the key recommendations."

The TUC says: "Further talks will take place centrally, and individual unions will be actively considering also participating in scheme-level talks in order to fully explore all the issues and to enable unions and their members to reach a judgment on whether agreement is possible or whether more unions will enter into dispute and plan industrial action. The TUC has made clear to the Government, in agreeing to continue negotiations, that unions have not agreed to or accepted any of the Government's objectives or the change in indexation from RPI to CPI". The indexation change is the subject of legal challenges by the unions.

Continue reading Public sector pensions reform: scheme-level discussions to start.

Posted by Rachel Sharp
on July 19, 2011 12:33 PM

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« Pay bargaining stats | Main Index | Archives | Public sector pay »

Al Reiling: Politicians can't work to fix this economy so they find read more
peter lewis: Is anyone else sick of the down talk we get read more
steven threadwell: I would love to see our goverment and polititions live read more
Michael Carty: Thank you for the query regarding the national minimum wage. read more
corncerned parent: hi, my daughter has been an apprentice hairdresser since sept read more
anon: Abolish minimum wage? Are you joking? By abolishing the minimum read more
Doug Shaw: Welcome indeed - thanks for a very detailed informative write read more
Anonymous: Why not abolish minimum wage altogether, or at least freeze read more
David Richards: That's quite an interesting analysis, especially regarding the private sector read more
terence tyas: WHAT INCREASE ??? ANYTHING LINKED TO THE RATE OF INFLATION read more

Sheila Attwood		Michael Carty

Mark Crail		Rachel Sharp

Sarah Welfare		Jo Doonar

Recently in Pensions Category

Public service pension reforms "unlikely to save money"

Occupational pension scheme membership continues to fall

Legal challenge to pensions uprating change

Public sector pensions reform: scheme-level discussions to start

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