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Written question asked by Lord Patten (Conservative) on Tuesday, 14 September 2021, in the House of Lords. It was due for an answer on Tuesday, 28 September 2021. It was answered by Lord Agnew of Oulton (Conservative) on Tuesday, 28 September 2021 on behalf of the Treasury.

Public Sector: Workplace Pensions

Question

To ask Her Majesty's Government what steps they plan to take to communicate to the taxpayer the economic costs of public sector pensions.

Answer

Public service pensions are a crucial part of the total remuneration package for public sector workers, this includes the current OBR estimate of a £1.9 bn Exchequer top-up payment for 2020-21 and £1.89 tn in liabilities. The Government pays close attention to the cost of public service pensions to the taxpayer, forecasts of which are regularly published by the OBR on a cashflow basis in its Economic and Fiscal Outlook[1] and Fiscal Sustainability Report[2]. Information on long-term public service pension liabilities can be found in the Whole of Government Accounts[3].

[1] https://obr.uk/efo/economic-and-fiscal-outlook-march-2021/

[2] https://obr.uk/fsr/fiscal-sustainability-report-july-2018/

[3] https://www.gov.uk/government/publications/whole-of-government-accounts-2018-2019

Secondary information

Type
Written question
Reference
HL2713
Session
2021-22
Subjects
Costs Economic situation Workplace pensions Public sector
Link
View this Written question on www.parliament.uk