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Home >  Taxation, work and welfare >  Public Service Pensions (PSP) > What do the changes mean for me?

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What do the changes mean for me?

27 April 2012

Pension reform for 2015

Following discussions between departments and trades unions, the details of the scheme designs for the NHS, Civil Service and Teachers’ schemes have now been finalised. You should visit your scheme’s website for further details about the changes and how they may affect you.

• NHS Pension Scheme
• Teachers’ Pension Scheme
• Principal Civil Service Pension Scheme

Some schemes are preparing pensions calculators. When available, these calculators will show you what pension you could receive at retirement. If you work for the NHS you can already see what the new 2015 pension scheme will mean for you in terms of retirement benefits.

The design of the Local Government Pensions Scheme (LGPS) is still being discussed by the Government, the Local Government Association and trades unions. The final scheme design will be announced in due course.. The proposal is for the new LGPS scheme design to be introduced from 2014 (one year ahead of the other reformed public service schemes). You should visit the LGPS website for further details about this proposal.

The details of the new Firefighters’ scheme are also expected to be finalised shortly.

The Government has set out its preferred scheme design for the Police Pension Scheme. Changes can now be suggested to the Government’s preferred scheme design, within the cost ceiling set, through discussions between the Home Office and the Police Negotiating Board.

Changes to the Armed Forces and Judiciary schemes are being considered. Announcements will follow in due course.

The changes to public service pension schemes will be legislated for together (for introduction in 2015, 2014 for LGPS). 

Please note that you will receive information about the changes to your pension provision from your scheme and your employer, as appropriate.

Increased pension contributions

Pension contributions increased for most public servants from April 2012. Some schemes have produced calculators to show how much extra you will need to pay in 2012/13, which you can access by clicking on the appropriate link below. 

• Teachers’ Pension Scheme calculator
• Principal Civil Service Pension Scheme
• NHS Pension Scheme

There will be further increases in 2013/14 and 2014/15, which the Government will consult on in due course.

Contributions for members of the LGPS did not increase in April 2012, but are being considered as part of the wider discussions (above) on scheme reform from 2014.

HM Treasury is not responsible for the content of external websites.

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