News and updates
25 March 2011 - Lord Hutton's report - review into public sector pensions
In the Budget on 23 March, the Government accepted Lord Hutton’s recommendations as the basis for consultation with public sector workers, unions and others.
Following consultation, the Government will set out proposals in the autumn that are affordable, sustainable and fair to both the public sector workforce and to taxpayers.
This Q&A will be updated as matters develop and to reflect the questions which staff and employers are asking.
Pensions Questions and Answers
Archive communications on Hutton report
22 December 2010 - Reform of the Civil Service Compensation Scheme
The new Civil Service Compensation Scheme (CSCS) comes into effect today. This follows months of discussions and is based on negotiations with five of the six Civil Service unions (FDA, Prospect, GMB, Unite, POA). It is the largest reform of the scheme since 1987.
The CSCS sets out the terms for voluntary and compulsory redundancy. The new scheme gives extra protection to the lower paid and those closest to retirement, whilst also setting a cap on payments to higher earners.
Reform of the Civil Service Compensation Scheme
Legislation - Superannuation Act 2010
2 November 2010 - Pensions and Tax
The Government has announced changes to the tax relief applicable to pensions. The changes aim to restrict tax relief to the most highly paid
HMRC have produced guidance for individuals
Futher information can also be found on the high earners page where there is a Q&A Briefing for Civil Servants
March 2011 AMC rate
03th March 2011: The yield used to calculate the AMC for March 2011 is 0.69%
Archive news and updates