Correspondence

Public service pensions: actuarial valuations and the employer cost cap mechanism: supplementary documents

These are supplementary documents relating to actuarial valuations and the establishment of an employer cost cap mechanism in the public service pension schemes.

Documents

The Public Service Pensions (Valuations and Employer Cost Cap) (Amendment) Directions 2015 (March 2015)

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Letter from the Government Actuary to Director General, Public Spending and Finance, HM Treasury, 3.3.2015

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Letter and Annex from Director General, Public Spending and Finance, HM Treasury to the Government Actuary 3.3.2015

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The Public Service Pensions (Valuations and Employer Cost Cap) (Amendment) Directions 2015 (February 2015)

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Letter and Annex from Director General, Public Spending and Finance, HM Treasury to the Government Actuary 13.2.2015

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Letter from the Government Actuary to Director General, Public Spending and Finance, HM Treasury, 13.2.2015

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The Public Service Pensions (Valuations and Employer Cost Cap) (Amendment) Directions 2014 (November 2014)

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Detail

The Public Service Pensions Act provides the legal framework for regular actuarial valuations of the public service pension schemes to measure the costs of the benefits being provided. These valuations will inform the future contribution rates to be paid into the schemes by employers. The Act also provides for the establishment of an employer cost cap mechanism to ensure that the costs of the pension schemes remain sustainable in future.

Directions and regulations made under the Public Service Pensions Act implement this policy. The Treasury has a statutory duty to consult the Government Actuary before making the Directions. The correspondence published alongside this archived version of the Directions sets out the outcome of this consultation process.

Read annexes A and B to the second letter from Director, Public Spending, HM Treasury to the Government Actuary dated 10.10.2013.