Commons Briefing paper by Djuna Thurley, Richard Cracknell, Roderick McInnes and Tom Rutherford. It was first published on Wednesday, 5 March 2014. It was last updated on Wednesday, 5 March 2014.
Public Service Pensions Bill [Bill 70 of 2012/13]
In line with the recommendations of the Independent Public Service Pensions Commission, the new schemes would provide pension benefits based on career average rather than final salary and individuals would have a normal pension age linked to their State Pension age (except for the schemes for the firefighters, police and armed forces, which would have a normal pension age of 60). Except where transitional protection has been agreed for those closest to retirement, the existing schemes would close for future accrual by April 2015 (2014 for the local government schemes in England, Wales and Northern Ireland). The Bill is scheduled to have its Second Reading in the House of Commons on Monday 29 October 2012.
Secondary information
- Type
- Research briefing
- Reference
- RP12-57
- Subjects
- Costs Civil service Local government Workplace pensions Public service Retirement Retail prices index Consumer prices index Independent Public Service Pensions Commission
- Legislation
- Public Service Pensions Bill 2012-13
- Published by
- Business and Transport Section
- House of Commons Library
- Link
- View this Research briefing on researchbriefings.parliament.uk
Librarians' tools
- Timestamp
- 2022-01-21 15:29:00 +0000
- URI
- http://data.parliament.uk/resources/345340
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- Internal location
- http://researchbriefings.intranet.parliament.uk/ResearchBriefing/Summary/RP12-57