Civil Service Final Salary Scheme At Risk
The Cabinet Office has confirmed that the current civil service pension scheme is under review
7th December 2004
Civil Servants have been told that their current pension scheme is under review. The civil service pension, seen as a 'gold standard' of pensions, currently operates on a 'final salary' basis where pension payouts are calculated on the basis of salary at retirement.
The review is understood to be considering moving to a 'career average' calculation.
Unions also believe that the retirement age may be raised from 60 to 65.
Read More: BBC
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