Author: Auditor General for ScotlandPublisher:
ISBN:
Category : Local officials and employees
Languages : en
Pages : 41
Book Description
The Cost of Public Sector Pensions in Scotland
Author: Auditor General for ScotlandPublisher:
ISBN:
Category : Local officials and employees
Languages : en
Pages : 41
Book Description
The cost of public service pensions
Author: Great Britain: National Audit OfficePublisher: The Stationery Office
ISBN: 9780102963571
Category : Business & Economics
Languages : en
Pages : 44
Book Description
There has been much public discussion about the affordability of public service pensions. This National Audit Office report aims to bring greater transparency to, and understanding of, the cash costs involved. Total payments to more than 2 million pensioners in the UK's four largest pay-as-you-go pension schemes (also known as unfunded schemes - where current employee and employer contributions are used to pay current pensions) were £19.3 billion in 2008-09, a real terms increase of 38 per cent since 1999-2000. This is driven by more employees retiring each year, which is a substantially more significant factor than longer lifespans. Employee contributions of £4.4 billion reduced the taxpayer's share of costs to £14.9 billion in 2008-09. The employee element grew by 56 per cent in real terms since 1999-2000 because staff numbers and contribution rates have increased. The report also looks at projections of payments across all UK public sector pay-as-you-go pension schemes over the next fifty years. Expressed in terms of constant 2008-09 prices, the Government Actuary's Department projects total payments rising to over £79 billion a year by 2059-60. The Treasury has a reasonable framework in place for assessing future costs and has undertaken some analysis on the sensitivity of projections to changes in key assumptions. The Treasury has not undertaken any systematic analysis of the effects of changing its assumption that there will be zero public service headcount growth, despite the existence of several factors that could put upwards pressure on staff numbers in the long term.
Public Sector Pension Schemes in Scotland
Author: Publisher:
ISBN: 9781905634255
Category : Local officials and employees
Languages : en
Pages : 23
Book Description
Public Sector Pensions
Author: Gerald RhodesPublisher: Published for the Royal Institute of Public Administration [by the] University of Toronto Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 328
Book Description
Partly historical study of UK pension schemes and old age benefits, particularly those in use in public service. Taxation and financing of schemes. References as footnotes. Statistical tables.
Sir Humphrey's Legacy
Author: Neil RecordPublisher:
ISBN:
Category :
Languages : en
Pages : 72
Book Description
Whilst private sector pension schemes have been closing down rapidly in the last few years, public sector employees continue to enjoy gold plated benefits. In addition, rates of ill health retirement in public sector pension schemes are extremely high. Proposed reforms to public sector schemes will make little difference to the benefits available to new employees and no difference at all to benefits of existing employees.Private sector taxpayers have to meet the cost of public sector pensions, so how has this divide between the standard of private and public sector pensions arisen? Part of the answer lies in the fact that the costs of public sector schemes are not properly accounted for.In this monograph, Neil Record estimates that public sector pension liabilities are about pound;1 trillion - but the government publishes estimates of the liabilities of only half this level. The author argues that nothing can be done to deal with the liability accrued so far, but that action can be taken to make costs transparent in the future. If costs are made transparent we can start to change the nature of public sector schemes, to the benefit of workers and taxpayers alike.Further reform proposals are discussed by commentators Philip Booth and Nick Silver.This is a valuable contribution to a debate which can no longer be postponed. David Laws MP, Liberal Democrat Shadow Work and Pensions Secretary.
Demographics and Public Sector Pensions in Scotland
Author: Public Servants' and Teachers' Pension Plans - Cost and Risk Sharing Options - Report No. 3 - Public Sector Pensions Consultations
Author: Ontario. Public Sector Pensions ConsultantsPublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Public service pensions
Author: Great BritainH.M. TreasuryPublisher: The Stationery Office
ISBN: 9780101821421
Category : Political Science
Languages : en
Pages : 36
Book Description
In this paper the Government sets out its preferred scheme design for public service pensions. It is built on the foundations laid by Lord Hutton in his report (Independent Public Service Pensions Commission: final report, 2011, ISBN 9780108510410). The cost of public service pensions paid out has risen by over a third over the last ten years to £32 billion a year. Reforms to date have been insufficient to reverse the increase in costs of public service schemes from rising longevity. The Government's offer is: benefits already earned are protected; for those in final salary schemes, those past benefits will be linked to their final salary when they leave the scheme or retire; public service workers with ten years or less to their current pension age, will see no change in when they can retire; Government will continue to pay more overall toward pension benefits than the workforce. The scheme design will ensure: guaranteed, index-linked pension benefits on retirement; an accrual rate of 1/60ths and earnings indexation for benefits while still working in the public service; fairer distribution of benefits across the workforce; and, that most low and middle earners working a full career will receive pension benefits at least as good as they get now. But in return, the Government is asking public service workers to pay more towards their pensions and work a bit longer. The Government's offer is conditional on the trades unions and the Government reaching agreement on the reforms.
House of Commons - Scottish Affairs Committee: The Referendum on Separation for Scotland, Session 2013-14 - HC 140-I
Author: Great Britain: Parliament: House of Commons: Scottish Affairs CommitteePublisher: The Stationery Office
ISBN: 9780215062482
Category : Political Science
Languages : en
Pages : 234
Book Description
Incorporating HC 139-xv - HC 139-xx, session 2012-13 and follows on from HC 139-II, session 2012-13 (ISBN 9780215052551). For related report, see HCP 542 (ISBN 9780215047489)
Comparing Devolved Governance
Author: D. BirrellPublisher: Springer
ISBN: 0230389791
Category : Political Science
Languages : en
Pages : 184
Book Description
Examines recent evidence of a growing symmetry in the operation of devolution in Scotland, Wales and Northern Ireland. This book makes one of the first systematic and detailed comparisons of the operation of the devolved institutions and machinery of governance. It uses a comparative approach to explore the key workings of government.