Queen's Speech: Govt presses ahead with public sector pension plans

clock

The Queen has confirmed the government will introduce legislation to reform public sector pensions, changing the schemes from final salary set ups to career average arrangements.

Marking the state opening of Parliament this morning, the Queen's Speech set out the government's agenda for the new parliamentary session, focusing on "economic growth, justice, and constitutional reform". She said: "Legislation will be introduced to reform public service pensions in line with the recommendations of the independent commission on public service pensions." Other provisions of the Public Service Pensions Bill will include asking people to retire later, with pension benefits normally paid at state pension age, with the exception of members of the police, armed forces and...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Budget wish lists: Advisers share hopes and fears ahead of 26 November

Budget wish lists: Advisers share hopes and fears ahead of 26 November

Is increasing income tax the chancellor’s ‘least worst’ option?

Jenna Brown
clock 17 November 2025 • 9 min read
Bank of England holds interest rates at 4% as Budget looms large

Bank of England holds interest rates at 4% as Budget looms large

Five MPC members voted to hold rates

Michael Nelson
clock 06 November 2025 • 3 min read
Partner Insight: Tariffs are here to stay. What's next for investors?

Partner Insight: Tariffs are here to stay. What's next for investors?

The current outlook for US tariffs is complex and their full impact on growth remains to be seen. Columbia Threadneedle Investments explores what advisers need to know, key events to keep top of mind and how to navigate the uncertainty.

Columbia Threadneedle Investments
clock 23 October 2025 • 5 min read