Buzzer
Languidly Clinical
- Oct 1, 2006
- 26,121
For those currently in employment yes. But new staff no. .
Really? I'd beg to differ with you there, Diffbrook. The principal civil service pension (PCSPS) is still final salary, it's still non-contributory and is still unfunded which means effectively that it's underwritten by the government. There was a change in 2002 when the PCSPS changed the rules for new members but all it effectively did was double the death in service contributions to 3% from 1.5% in return for better death in service benefits. Existing members had the option to stay or move into the new scheme.
There's also the partnership scheme which is a defined contribution scheme for new members where it's also completely free, there is also a pound for pound matching by employers AND death in service benefits.
In central government, pay has outstripped the private sector in many areas. On top of that, there's also the bestest, safest pension scheme in the land. I'm not sure how local civil service pensions work though and I couldn't comment on the pay.
I think it's fair to say that there are a lot of civil servants earning a very nice wage. There are also civil servants (notably Job Centre Plus staff) on shockingly low wages so IMO it's impossible to make any generalisations about pay. Pension-wise though, they're doing a lot better than most people.