Civil Service pension increase April 2023

Gray001

Was a nice thought to have when I got a bit extra with pay increase. The extra was nice at the time. 

Gray001

Another question - does anyone know if the mccloud case I think is called has trigger a review into ppl getting pensions and current tly paying into them. Does anyone know if as a consequence of that it could leave us financially better off? I think it was to do with forced migration over to the Alpha scheme

Dazed_and_C0nfused

Gray001 said:

Another question - does anyone know if the mccloud case I think is called has trigger a review into ppl getting pensions and current tly paying into them. Does anyone know if as a consequence of that it could leave us financially better off? I think it was to do with forced migration over to the Alpha scheme

Quite possibly but each persons circumstances will differ and what one considers to be better might not be the same for another as there are a lot of permutations.

And don't forget if you were in Classic before Alpha then Classic, in pure pension terms a crued at 1/80th.

Alpha was nearly twice as generous with an accurate rate of 1/43rd.

So Alpha with an actuarial reduction for early payment may well be better for some people.  

All depending on what your personal definition of "better" is.