7 January 2022

See what the pensions overpayment is costing you

Nearly 22000 PCS members have now used our calculator to see how much they have overpaid in pensions contributions.

PCS members have been forced to overpay into their civil service pensions over the past couple of years and have ‘lost’ an average £1,000.

A cut in employee contributions should have been brought in nearly three years ago following the 2019 valuation of the civil service pension scheme, however the government has refused to act.

So far nearly 22000 PCS members have worked out how much they have lost by using our PCS pensions loss calculator. The average loss per month is around £53. Simply enter your gross annual salary into the calculator and it will show you how much you have overpaid.

At a time when the cost of living is rising sharply, with the energy price cap predicted to rise by 51%, National Insurance contributions increasing and the potential of interest rate rises affecting mortgage payments, PCS members cannot afford to make these overpayments.

We are therefore taking legal action, along with at least five other unions, to force the government to change its decision on pension contributions. We will also be holding a consultative ballot to see whether you are prepared to take strike action over pay, pensions and living standards. Depending on the result and the strength of feeling amongst members, we could then move to a statutory ballot for strike action.

We have also created an e-action so you can share what you have lost with your MP. Complete your details and the e-action will send the message to your local MP. We are asking MPs to write to Lord Agnew, the minister in the Cabinet Office and Treasury who is responsible for your pension