Report from the Public Sector Pensions Consultations PDF Download
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Author: James E. Pesando
Publisher:
ISBN:
Category : Civil service
Languages : en
Pages :
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Book Description
Author: James E. Pesando
Publisher:
ISBN:
Category : Civil service
Languages : en
Pages :
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Book Description
Author: Ontario. Public Sector Pensions Consultants
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Ontario. Public Sector Pensions Consultations
Publisher:
ISBN:
Category :
Languages : en
Pages : 49
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Book Description
Author: Ontario. Public Sector Pensions Consultations
Publisher:
ISBN:
Category : Pensions
Languages : en
Pages :
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Author: K. P. Ambachtsheer
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The purpose of this paper is to facilitate the Ontario public sector pensions consultations currently under way. It examines the linkages between costing, funding, and investment policies in fully indexed, average final pay-based defined benefit pension plans.
Author: Ontario. Management Board of Cabinet
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Ontario. Public Sector Pensions Advisory Board
Publisher: Management Board of Cabinet, Government of Ontario
ISBN: 9780772944207
Category : Ontario
Languages : en
Pages : 57
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Book Description
Author: Great BritainH.M. Treasury
Publisher: The Stationery Office
ISBN: 9780101821421
Category : Political Science
Languages : en
Pages : 36
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Book Description
In this paper the Government sets out its preferred scheme design for public service pensions. It is built on the foundations laid by Lord Hutton in his report (Independent Public Service Pensions Commission: final report, 2011, ISBN 9780108510410). The cost of public service pensions paid out has risen by over a third over the last ten years to £32 billion a year. Reforms to date have been insufficient to reverse the increase in costs of public service schemes from rising longevity. The Government's offer is: benefits already earned are protected; for those in final salary schemes, those past benefits will be linked to their final salary when they leave the scheme or retire; public service workers with ten years or less to their current pension age, will see no change in when they can retire; Government will continue to pay more overall toward pension benefits than the workforce. The scheme design will ensure: guaranteed, index-linked pension benefits on retirement; an accrual rate of 1/60ths and earnings indexation for benefits while still working in the public service; fairer distribution of benefits across the workforce; and, that most low and middle earners working a full career will receive pension benefits at least as good as they get now. But in return, the Government is asking public service workers to pay more towards their pensions and work a bit longer. The Government's offer is conditional on the trades unions and the Government reaching agreement on the reforms.
Author: Elizabeth J. Shilton
Publisher: McGill-Queen's Press - MQUP
ISBN: 0773599606
Category : Law
Languages : en
Pages : 304
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Book Description
Workplace pensions are a vital part of Canada’s retirement income system, but these plans have reached a state of crisis as a result of their low coverage and inadequate, insecure, and unequally distributed benefits. Reviewing pension plans through a legal and historical lens, Empty Promises reveals the paradoxical effects and inevitable failure of a pension system built on the interests of employers rather than employees. Elizabeth Shilton examines the evolution of pension law in Canada from the 1870s to the early twenty-first century, highlighting the foreseeably futile struggle of legislators to create and sustain employees’ pension rights without undermining employers’ incentives. The current system gives employers considerable discretion and control in pension design and administration. Shilton appeals for a model that is not hostage to business interests. She recommends replacing today’s employer-controlled systems with pensions shaped by the public interest, expanding mandatory broad-based or state-pension systems such as the Canada Pension Plan to generate pensions that respond to the changing workplace and address the needs and interests of retirees. Engaging with the long-running debate on whether Canadians should look to government or to the private sector for retirement income security, Empty Promises is a crucial work concerned with the future of the Canadian retirement system.
Author: Great Britain: National Audit Office
Publisher: The Stationery Office
ISBN: 9780102963571
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
There has been much public discussion about the affordability of public service pensions. This National Audit Office report aims to bring greater transparency to, and understanding of, the cash costs involved. Total payments to more than 2 million pensioners in the UK's four largest pay-as-you-go pension schemes (also known as unfunded schemes - where current employee and employer contributions are used to pay current pensions) were £19.3 billion in 2008-09, a real terms increase of 38 per cent since 1999-2000. This is driven by more employees retiring each year, which is a substantially more significant factor than longer lifespans. Employee contributions of £4.4 billion reduced the taxpayer's share of costs to £14.9 billion in 2008-09. The employee element grew by 56 per cent in real terms since 1999-2000 because staff numbers and contribution rates have increased. The report also looks at projections of payments across all UK public sector pay-as-you-go pension schemes over the next fifty years. Expressed in terms of constant 2008-09 prices, the Government Actuary's Department projects total payments rising to over £79 billion a year by 2059-60. The Treasury has a reasonable framework in place for assessing future costs and has undertaken some analysis on the sensitivity of projections to changes in key assumptions. The Treasury has not undertaken any systematic analysis of the effects of changing its assumption that there will be zero public service headcount growth, despite the existence of several factors that could put upwards pressure on staff numbers in the long term.
