§ Mr. David ShawTo ask the Chancellor of the Exchequer if he will state for each of the main public sector pension schemes the financial year when he expects the average pension in payment to reach £10,000 per annum based on current trends in lengths of service, earnings and price increases.
§ Mr. PortilloThe table shows when the average pension in payment from the main public service pension schemes would reach £10,000 per annum if the average level of price inflation were 1 per cent. or 4 per cent. in the longer term. These represent the top and bottom of the Government's target range for inflation.
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Financial rear when average pension is expected to reach £10,000 per annum Scheme Rate of growth per annum 1 per cent. 4 per cent. Civil Service 2083–84 2016–17 NHS (England and Wales) 2082–83 2016–17 NHS (Scotland) 2094–95 2019–20
Scheme Rate of growth per annum 1 per cent. 4 per cent. Teachers (England and Wales) 2039–40 2005–6 Teachers (Scotland) 2037–38 2004–5 Armed Forces 2077–78 2014–15 Local Government(England and Wales) 2124–25 2026–27 Average 2084–85 2016–17