This command paper sets out the government’s preferred scheme design and cost ceilings for the 4 largest schemes, alongside additional guidance papers.
The Public Service Pensions Bill received Royal Assent on 25 April 2013, becoming the Public Service Pensions Act 2013.
Read an explanation of public service pension reforms.
Under the Public Service Pensions Act, all new schemes will be required to issue annual benefit statements to members setting out the pension rights they have accrued. The directions published today (13 March 2014) set the requirements for these annual statements.
Read more about actuarial valuations and the establishment of an employer cost cap mechanism in the public service pension schemes.