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Public service pensions
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...
How to Be a Civil Servant
Although it is seldom recognised as such by the public, the civil service is a profession like any other. The UK civil service employs 400,000 people across the country, with over 20,000 students and graduates applying to enter every year through its fast-stream competition alone. Martin Stanley's seminal How to Be a Civil Servant was the first guidebook to the British civil service ever published. It remains the only comprehensive guide on how civil servants should effectively carry out their duties, hone their communication skills and respond to professional, ethical and technical issues relevant to the job. It addresses such questions as: How do you establish yourself with your minister as a trusted adviser? How should you feed the media so they don’t feed on you? What’s the best way to deal with potential conflicts of interest? This fully updated new edition provides the latest advice, and is a must-read for newly appointed civil servants and for those looking to enter the profession – not to mention students, academics, journalists, politicians and anyone with an interest in the inner workings of the British government.
National Audit Office: Cabinet Office: Spinning-out MyCSP As A Mutual Joint Venture - HC 538
The Government's first mutual joint venture MyCSP, which administers pensions for 1.5 million civil service employees, has the potential to be good value for money with a projected saving of 25 per cent on costs after seven years. However, the complexity of the deal combined with poor quality of data, initial planning, and infrastructure meant that it took the Cabinet Office longer than intended to finalise the transaction. Furthermore, the Department and MyCSP still face many large challenges in transforming the service. The biggest challenge is improving data to support the implementation of the new 2015 pension scheme. The deal is projected by the Department to reduce the cost of administ...
OECD Public Governance Reviews Skills for a High Performing Civil Service
This report looks at the capacity and capabilities of civil servants of OECD countries and suggests approaches for addressing skills gaps through recruitment, development and workforce management
The cost of public service pensions
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 taxpa...
A History of Public Sector Pensions in the United States
From the Wharton School, offering a comprehensive assessment of the political and financial dimensions of public-sector pensions from the colonial period until the emergence of modern retirement plans in the twentieth century.
HM Treasury: Freedom and Choice in Pensions - Cm. 8835
This consultation form a key part of a wider set of reforms announced at Budget 2014. The government is keen to ensure that individuals who want to save are supported in doing so. The nature of retirement is changing as people are living longer and their needs more varied. In this Government's view the State should not be imposing restrictions on individuals who have made tough choices to save for the future. So from next year there will be no restrictions on people's ability to draw down from their defined contribution pension pots after age 55. The tax rules will be drastically simplified to give flexible access to pension savings. Consumers will therefore also need to be well informed to make their choices and the Government will introduce a new duty on pension providers and schemes to deliver a 'guidance guarantee' by April 2015. They will also make available a £20 million development fund to get the initiative up and running
OECD Pensions Outlook 2016
The OECD Pensions Outlook 2016 assesses policy issues regarding strengthening pension systems and, in particular, funded pension plans.
