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Pensions: Public Sector

Treasury written question – answered on 12th May 2011.

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Photo of Rachel Reeves Rachel Reeves Shadow Minister (Work and Pensions)

To ask the Chancellor of the Exchequer what estimate has been made of the savings to the Exchequer of ending contracting out for defined-benefit public sector pension schemes.

Photo of Danny Alexander Danny Alexander The Chief Secretary to the Treasury

The contracted-out rebate for defined benefit pension schemes was worth £7.3 billion in.2008-09 (based on data from the NPS).

NPS data do not differentiate between public and private sector employees and as such a precise estimate on the savings attributable to either group cannot be made.

However, HM Treasury estimates that there are currently around 5.3 million active members of defined benefit pension schemes employed within the public sector.

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