Pension Schemes Act 2026
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Change 1
128 Public service pension schemes
(1) The Government Actuary must, before the end of the period of 12 months beginning with the day on which this section comes into force— (a) prepare and publish a document setting out cash flow projections for each of the next 50 years that cover the public service pension schemes within subsection (4); (b) provide the document to the Treasury and the Office for Budget Responsibility. (2) The Treasury must lay the document before Parliament. (3) For the purposes of this section “cash flow” means— (a) expenditure on benefits, and (b) income from member contributions. (4) The following public service pension schemes are within this subsection— (a) any scheme under section 1 of the Public Service Pensions Act 2013 (schemes for persons in public service) which— (i) is a defined benefits scheme (within the meaning of that Act), and (ii) is not a scheme for local government workers (within the meaning of that Act); (b) any scheme under section 1 of the Public Service Pensions Act (Northern Ireland) 2014 (schemes for persons in public service) which— (i) is a defined benefits scheme (within the meaning of that Act), and (ii) is not a scheme for local government workers (within the meaning of that Act).
128 Public service pension schemes
(1) The Government Actuary must, before the end of the period of 12 months beginning with the day on which this section comes into force— (a) prepare and publish a document setting out cash flow projections for each of the next 50 years that cover the public service pension schemes within subsection (4); (b) provide the document to the Treasury and the Office for Budget Responsibility. (2) The Treasury must lay the document before Parliament. (3) For the purposes of this section “cash flow” means— (a) expenditure on benefits, and (b) income from member contributions. (4) The following public service pension schemes are within this subsection— (a) any scheme under section 1 of the Public Service Pensions Act 2013 (schemes for persons in public service) which— (i) is a defined benefits scheme (within the meaning of that Act), and (ii) is not a scheme for local government workers (within the meaning of that Act); (b) any scheme under section 1 of the Public Service Pensions Act (Northern Ireland) 2014 (schemes for persons in public service) which— (i) is a defined benefits scheme (within the meaning of that Act), and (ii) is not a scheme for local government workers (within the meaning of that Act).
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