Guidance

Pensions for Public Service employees in the UK: Long term financial management & reform of benefits

A paper to be presented by the Government Actuary's Department to The International Congress of Actuaries on 31 March 2014 in Washington DC, United States.

Documents

Pensions for Public Service employees in the UK: Long term financial management & reform of benefits

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Details

The aim of the paper is to share the UK experience with actuaries worldwide, since those charged with managing the public finances in many countries (many carrying material fiscal deficits) are already, or shortly could well be, facing similar challenges.

This paper focuses on:

  • reforms to benefits and plan governance currently being introduced, and
  • the calculation, and control, of the cost of public service pensions.
Published 19 March 2014