The Government has today launched a public consultation on the discount rate used to set contribution rates in unfunded public service pension schemes. This is in line with a commitment made in the Spending Review, and follows a recommendation of the Independent Public Service Pensions Commission’s interim report.
The consultation will close on 03 March 2011.
More information on the discount rate and the consultation document can be found on the HM Treasury website: http://www.hm-treasury.gov.uk/consult_unfunded_pensions.htm
Notes for Editors
- Initial work carried out by the Independent Public Service Pensions Commission suggests that the current discount rate is at the high end of what is appropriate. The Commission asked the Government to review this discount rate, so that the findings can inform the final report. More information on the Independent Commission, including the interim report, can be found on the HM Treasury website: http://www.hm-treasury.gov.uk/indreview_johnhutton_pensions.htm
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