Following the pension valuation and the FBU’s court victory, the government must revise every public sector pension scheme.
Changes to civil service pensions in 2015 meant that everyone had to work longer to get their pension, pay more and then get less on retirement.
At the time the government promised that in four years it would do a pension valuation and if members had overpaid, they would get that money back. The valuation done last year showed that members have massively overpaid.
In a meeting with the Cabinet Office, PCS has made it clear that the money due to PCS members from the pension valuation – a minimum of 2% every month – should be paid immediately. Their decision to suspend the valuation is unacceptable when members have been overpaying by at least 2% every month.
The successful case brought by the FBU against the government, that proved that the changes brought in to their pensions were discriminatory on the grounds of age, mean that the government must look again at every public sector pension scheme.
PCS has demanded from the Cabinet Office that all future pension changes will be negotiated with PCS, and they have agreed.
We have also demanded a guarantee that no-one should be worse off due to changes to pensions following the FBU’s legal victory – an important issue, as some people did actually see improvements to their pensions following the changes in 2015, although for most it was a detrimental change.
PCS general secretary Mark Serwotka said: “Management have agreed to talks about these issues. We are clear that no-one should be asked to pay more. However long it takes, we are determined that the government must pay for the improvements to pensions that the court has said must be brought in.”