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Accrual rate?
Comments
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Wow. Well I am surprised by all of this. Thanks for all the replies, :T Big help.
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JonBristol123 wrote: »Can this 1/49th be changed at any point.
Yes it can be changed for future service (not any past accrued service). There is a cost advisory board which is supposed to review the scheme and recommend changes every 3 years with the first review due to take effect from April 2019.
However, it seems that the first review is unlikely to come up with major changes perhaps reducing the accrual rate to something around 1/52ths? It is also behind schedule so any potential changes are unlikely to be implemented until 2020 at the earliest.
http://www.lgpsboard.org/images/PDF/CMBDANov2017/Item3PaperF-CostManagementUpdate.pdf0
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