Consultations

Consultations relating to the work of the Scheme Advisory Board are held on this page.

Document Description Start date Closing date

Public service pensions: cost control mechanism consultation response (PDF, 54 pages, 930kb)

HMT response published on 4 October 2021. 

Having considered the responses, the government will proceed with all three reforms. This approach will mean that.

  • The cost control mechanism will adopt a reformed scheme only design: to remove any allowance for legacy schemes in the mechanism so it only considers past and future service in the reformed schemes
  • The cost corridor will be widened: from +/-2% to +/-3% of pensionable pay
  • An economic check will be introduced: linked to expected long-term GDP so that a breach of the mechanism (and therefore benefit changes) would only be implemented if it would still have occurred had long-term economic assumptions been considered.
    

TPR interim response on code of practice consultation (webpage)

The Pensions Regulator (TPR) published an interim response to its consultation on the proposed single code of practice on 24 August 2021. 

TPR is reviewing the detailed feedback received and the new code is unlikely to become effective before summer 2022.

    

Consultation response on the cost control mechanism (PDF, 7 pages, 202kb) 

SAB response to the HMT consultation on proposals to reform the cost control mechanism - submitted 19 August 2021.

    

Consultation response on the SCAPE discount rate (PDF, 7 pages, 203kb) 

SAB response to the HMT consultation on the SCAPE discount rate methodology - submitted 19 August 2021.

    

Consultation response to PDP call for input on dashboard staging (PDF, 9 pages, 248kb) 

SAB response to the Pensions Dashboards Programme's call for input on proposals for staging - submitted 9 July 2021.

    

HMT Public Service Pensions: Consultation on the discount rate methodology (PDF, 359kb, 35 pages)

Written Ministerial Statement HCWS117 24 June 2021 (HTML)

The SCAPE discount rate is a discount rate used in the valuation of unfunded public service pension schemes to set employer contribution rates. It expresses future pension promises that are being built up in present-day terms and is set by HM Treasury following a prescribed methodology.

The current methodology for setting the SCAPE discount rate has been in place since 2011. This consultation seeks views on the objectives for the SCAPE discount rate and the most appropriate methodology for setting the SCAPE discount rate going forward.

24 June 2021

19 August 2021

HMT Public Service Pensions: Cost control mechanism consultation: Proposal to reform the mechanism (PDF, 471KB, 40 pages)

Written Ministerial Statement HCWS117 24 June 2021 (HTML)

At the request of HM Treasury, the Government Actuary has carried out a review of the cost control mechanism in the public service pension schemes. His final report sets out his assessment of the current mechanism and recommendations on possible changes.

The Government has considered the recommendations and is now consulting to seek views on three changes to the mechanism, all of which are recommendations by the Government Actuary.

24 June 2021

19 August 2021

PDP call for input on dashboard staging (webpage)

The Pensions Dashboard Programme (PDP) has launched a call for input outlining the proposed order and timings for pension providers and schemes (data providers) to connect to the pensions dashboard.

27 May 2021

9 July 2021

TPR code of practice consultation (webpage)

The Pensions Regulator is consulting on the first phase of a new code consisting of 51 shorter, topic-based modules which replace 10 of the existing codes of practice and mainly deal with the governance and administration of pension schemes.

The new code has been designed to be a web-based product. An early version of the web-based code is available during the consultation. Views are also sought on the design, usability, and navigation of this version of the code.

17 March 2021

26 May 2021

Public Service Pensions: Government response to consultation (PDF, 72 pages, 838kb)

Public Service Pensions leaflet (PDF, 3 pages, 120kb)

Public Service Pensions: Equality Impact Assessment (PDF, 53 pages, 555kb)

Update on the 2016 and 2020 valuations (HTML)

HMT response published 4 February 2021 on changes to the transitional arrangements of the 2015 Public Service Pension Schemes and an update on the 2016 and 2020 scheme valuations.

    
Consultation response on changes to the transitional arrangements of the 2015 PSPS (PDF, 65 pages, 741kb) SAB response to the HMT consultation on changes to the transitional arrangements of the 2015 Public Service Pension Schemes - submitted 9 October 2020.    

HMT Public Service Pensions consultation (PDF, 74 pages, 851kb)

Public Service Pensions consultation - questions (PDF, 2 pages, 97.7kb)

Public Service Pensions leaflet (PDF, 3 pages, 63.1kb)

Public Service Pensions Equality Impact assessment (PDF, 38 pages, 378kb)

Update on Cost Control Element of the 2016 valuations (PDF, 2 pages, 95.8kb)

HMT consultation on changes to the transitional arrangements of the 2015 Public Service Pension Schemes and an update on the pause to the cost-cap process.

 

 16 July 2020 11 October 2019
SAB response to HMT informal remedy proposals (PDF, 27 pages, 553kb) The HMT consultation on age discrimination references at paragraph 1.21 the informal technical discussions held with scheme administrators and employer and member representatives earlier this year. The Scheme Advisory Board has published its informal response to those technical discussions.

Within the response the Board highlighted the following points:

  • The lack of information available to them in order to fully assess the impact of the proposals, including at that time no mention of post remedy plans
  • The considerable challenge administrating the remedy would present to locally administered unfunded schemes
  • Concern that a default to the final salary scheme, may not be appropriate for some members in the FPS 2006
  • An immediate need for guidance on processing immediate cases
    
Consultation response on exit cap (PDF, 5 pages, 165kb) SAB response to HMT consultation on restricting exit payments in the public sector.

See also: LGA response (PDF, 43 pages, 736kb); FPS technical note (PDF, 7 pages, 264kb)

 10 April 2019 3 July 2019
Consultation response on pensions dashboards (PDF, 13 pages, 351 kb) SAB response to DWP consultation on Pensions dashboards: Working together for the consumer 3 December 2018 28 January 2019
Home Office response dated 28 November 2017 (PDF, 3 pages, 90kb) Home Office response to SAB in relation to consultation on 2016 scheme valuation assumptions.    
Consultation response on 2016 valuation assumptions dated 13 October 2017 (PDF, 11 pages, 428kb) SAB response to Home Office/ GAD consultation on the draft 2016 valuation assumptions report to the Secretary of State.    
Consultation response on treatment of past service costs dated 31 July 2017 (PDF, 18 pages, 577kb)  SAB response to Home Office consultation on the treatment of past service costs in the Firefighters’ Pension Scheme 2016 funding valuation    
Indexation and equalisation of GMP in public service pension schemes (PDF, 6 pages, 187kb) Updates Scheme Advisory Board members on a government consultation seeking views on how to address the implications of State Pension reforms for guaranteed minimum pensions of public servants below State Pension age.  28 November 2016  20 February 2017