Pensions: Public Sector

Treasury written question – answered on 3rd February 2020.

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Photo of Alex Sobel Alex Sobel Labour/Co-operative, Leeds North West

To ask the Chancellor of the Exchequer, what estimate he has made of the (a) number and (b) monetary value of public sector pension pots due to be paid on retirement to people who have previously worked in the public sector for (i) fewer than five years and (ii) between five and 10 years.

Photo of Rishi Sunak Rishi Sunak The Chief Secretary to the Treasury

There are approximately 5 million active members of public service pension schemes, which are usually unfunded defined benefit schemes. There are multiple public service pension schemes, managed by different government departments and devolved administrations. The value of an individual’s pension can depend on a number of factors, including career length, accrual rate, pay progression and what age they choose to retire. The precise information requested is not readily available as it is not held centrally and could only be provided at disproportionate cost.

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