§ Mr. David ShawTo ask the Chancellor of the Exchequer what is the average accrued capital value based on private sector annuity rates or other appropriate calculation method of(a) a civil service employee's pension and (b) other public sector employee's pensions of those (i) employees retiring this year and (ii) those current and past employees with future pension rights at retirement. [37884]
§ Mr. WaldegraveInformation for all public sector and public service pension arrangements is not kept centrally. However, the table sets out the average capitalised values of retirement benefits for civil servants who are members of the principal civil service pension scheme together with corresponding figures for two of the large public service schemes.
Approximate capitalised value of average accrued retired benefit entitlement Pension scheme Pensioners retiring over the year to1 October1995£ Active members at1 April 1995£ Pensioners with preserved benefits at1 April 1995£ 1. PCSPS (excluding N.I.) 98,000 32,000 14,000 2. NHS (England, Wales, Scotland and N.I.) 80,000 30,000 10,000 3. Teachers' Superannuation Scheme (England and Wales) 146,000 61,000 16,000 Notes:
The capitalised values include the value of pension benefits, lump sum retirement benefits and attached spouse's pensions.
The values for pensioners retiring over the year to 1 October 1995 exclude those retirements due to ill health.
Source:
Government Actuary's Department.