Employers Pension Fund

Independent Public Service Pensions Commission

The Chancellor invited John Hutton to chair the independent Public Service Pensions Commission. The Commission undertook a fundamental structural review of public service pension provision.

Lord Hutton of Furness published an interim report in October 2010 and his final report on public service pension provision was published on 10 March in which he set out his recommendations to the Government on pension arrangements that are sustainable and affordable in the long term, fair to both the public service workforce and the taxpayer and consistent with the fiscal challenges ahead, while protecting accrued rights.

The Interim and Final reports, and supporting documentation can be accessed online at:  http://www.hm-treasury.gov.uk/indreview_johnhutton_pensions.htm

The EPF made the following press statement on the 7 October EPF responds to the Independent Public Service Pensions Commission’s interim report

The EPF's sumbissions

The EPF made two submissions to the Independent Public Service Pensions Commission (IPSPC), both of which can be read below.

The EPF made its first submission to the IPSPC in July 2010, its second in December 2010. The submissions were prepared by the EPF Local Government and Teachers’ Group following a consultation with HEIs making contributions to the relevant schemes on behalf of employees.

For the first submission the EPF received 55 survey responses from HEIs which informed and supported the key principles outlined in the submission:

• HEIs have been working on pension reform through the EPF for three years  and the reform of the University Superannuation Scheme, which is starting to be consulted on,  has been a significant recent development;
• There are widespread concerns about current and future employer affordability of public service pension schemes operating in the sector;
• Pensions are a key part of HE recruitment and employment package, but risk should be shared more evenly between employer and employee;
• HEIs are a minority in public service pension schemes, but scheme rules have significant financial and administrative effects on institutions, particularly Post-1992 HEIs;
• Institutions would like greater flexibility with regard to the provision of pensions. Specifically, the obligation to offer the Teachers’ Pension Scheme (TPS) and Local Government Pension Scheme (LGPS), and their Scottish and Northern Ireland equivalents, within Post-1992 HEIs should be reviewed;
• Fairness and an element of consistency both across and within HEIs are essential.

The EPF’s submissions can be accessed below.

  EPF Submission to the Independent Public Service Pensions Commission

  EPF Second Submission to the IPSPC