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Written question asked by James McMurdock (Independent (affiliation)) on Friday, 28 August 2026, in the House of Commons. It was due for an answer on Wednesday, 2 September 2026. It was answered by Emma Reynolds (Labour) on Tuesday, 8 September 2026 on behalf of the Treasury.

Pensions

Question

To ask the Chancellor of the Exchequer, what recent assessment his Department has made of the fiscal sustainability of unfunded state and public sector pension liabilities.

Answer

The Office for Budget Responsibility’s recent fiscal sustainability analysis provides an independent assessment of the long-term cost of the state and unfunded public service pension schemes.

The report set out OBR’s assumption that net public service pension expenditure is expected to fall from around 1.2 per cent of GDP to around 0.9 per cent of GDP over the next 50 years. It also set out that State Pension expenditure is projected to rise from c.5% of GDP to c.9% of GDP by FYE 2076. These commitments are fully funded within our fiscal rules.


The Government continues to monitor the long-term sustainability of the public finances, including the fiscal implications of state and public service pensions.

Secondary information

Type
Written question
Reference
25733
Session
2026-27
Subjects
Workplace pensions Public sector State retirement pensions
Link
View this Written question on www.parliament.uk