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Unfunded Public Service Pension Contributions

The Government announced at the spending review their plans to take forward recommendations made by the Independent Public Service Pension Commission in its interim report. These plans included a commitment to undertake a review of the discount rate used to set contributions in the unfunded public service pension schemes. Today the public consultation on the discount rate has been launched and the Government would welcome comments from all interested groups. The consultation document has been placed in the Libraries of both Houses, can be found at: http://www.hm-treasury.gov.uk/consult_unfunded_pensions.htm and will end on 3 March.