The government has imposed terms on public sector workers meaning they have to pay more into their pensions, work longer and retire with less.
Alpha, a new civil service pension scheme is introduced on 1 April, 2015.
Our pension campaign, with the continued support of members and
branches, led to negotiations on the details of the scheme, to achieve
the following concessions:
- Protections for members closer to pensionable age. They will stay in their current scheme until they retire.
- Improving the accrual rate for the new career average scheme – the
rate at which your pension builds over time.
- From 2015 part-time workers will only pay pension contributions on their actual earnings, not as now based on their full-time equivalent salary.
- New ‘Fair deal’ arrangements mean that, although we will continue to
fight privatisation proposals, if members’ jobs are privatised, they will
stay in the civil service pension scheme while doing the same work with the new employer.
Use the new PCS Pension calculator to see how the Alpha pension scheme will affect you future pension.