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UK. Govt to change civil servants’ early pensions access
The government has proposed to change the rules around early access to pensions in the civil service, tracking 10 years behind state pension age, according to a new consultation over reforms to the Civil Service Compensation Scheme.
The Cabinet Office had launched a consultation to this effect in 2017, but on August 15 it published a new document with updated proposals to be discussed with trade unions as it considered that a long time has elapsed since the initial consultation, to which the government never responded.
The impetus for the original proposals was the need to put the public sector on a sustainable footing, something the government’s new supplementary consultation document argues is more pressing in the current economic environment.
The government recently announced measures it hopes will bring public sector exit payments under control, erecting a system of reporting requirements that could see civil servants nearing retirement need permission from a secretary of state to take away exit payments totalling more than £95,000, with pension strain costs likely to lead to larger payments.
Read more @Pensions Expert
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