Public Sector: Workplace Pensions

Treasury written question – answered on 17th March 2023.

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Photo of Dr Caroline Johnson Dr Caroline Johnson Conservative, Sleaford and North Hykeham

To ask the Chancellor of the Exchequer, what estimate he has made of the cost to the public purse of public sector pensions in each of the next 20 years.

Photo of John Glen John Glen The Chief Secretary to the Treasury

The Office for Budget Responsibility’s Fiscal Risks and Sustainability Report forecasts expenditure on unfunded public service pensions is expected to fall from around 2% of GDP in 2021/22 to 1.8% of GDP in 2041/42.

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