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The written answer I gave on 14 November 2011, Official Report, columns 643-44W, set out the Office for Budget Responsibility's March 2011 forecast expenditure on public service pensions, and expected savings from the switch to CPI uprating and increasing employee pension contributions.Changes proposed in the Command Paper ““Public Service Pensions: good pensions that last”” will only affect expenditure on public service pensions in the medium and long term. The paper set out the Government's objective that those public service workers who, as of 1 April 2012, have 10 years or less to their current pension age, will see no change in when they can retire, nor any decrease in the amount of pension they receive at their current normal pension age. Schemes and unions will discuss the fairest way of achieving this objective, within the Government's parameter that costs to the taxpayer in each and every year do not exceed the Office for Budget Responsibility forecasts for public service pensions. |