Govt plans Civil Service pension early access age rise

Government reforms

Hope William-Smith
clock • 2 min read

The government has announced plans to reform early access to pensions from the Civil Services Compensation Scheme (CSCS) to track ten years behind state pensions age.

In a supplementary consultation document published yesterday (15 August) the government said it is continuing talks with involved trade unions and that it is vital that early access provisions remain appropriate. "In recent years, the government has taken steps to reform public sector pension schemes and consequently most public sector workers will be expected over time to work longer, most to state pension age, before they take their pension," it stated. "As the state pension age is now 66 (and is proposed to increase to 67 in 2028), this will rebalance the proportion of adult life spen...

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 Pensions

Devilish details: Protection and the abolition of the LTA

Devilish details: Protection and the abolition of the LTA

'There are a number of subtleties to be aware of'

Thomas Coughlan
clock 22 March 2024 • 8 min read
L&G Retail launches adviser handbook on later life divorce

L&G Retail launches adviser handbook on later life divorce

To help support advisers dealing with clients going through a divorce

Jenna Brown
clock 21 March 2024 • 1 min read
New occupational scheme launches; BSPS rescue proposals set out

New occupational scheme launches; BSPS rescue proposals set out

Former British Steel workers will be able to ‘reverse transfer’ their pots

Jonathan Stapleton
clock 14 March 2024 • 2 min read