Treasury to reform cost controls after GAD review

Only reformed schemes will be covered as the corridor is widened to 3%.

James Phillips
clock • 2 min read
HM Treasury, London
Image:

HM Treasury, London

The Treasury will reform the cost control mechanism used for revaluing benefits within public service pension schemes after a major review said the current set-up was resulting in “perverse” outcomes.

In aconsultation published yesterday(24 June), the government confirmed it was planning to make three significant changes: applying the mechanism to reformed schemes only for both past and future s...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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