Ministerial Pensions
(10 years, 10 months ago)
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The Minister for the Cabinet Office and Paymaster General (Mr Francis Maude)
The Public Service Pensions Act 2013 abolished separate pension arrangements for future holders of the great offices of state. Future holders of the great offices of state will instead accrue pension in the ministerial pension scheme.
Amendments to allow future holders of the great offices of state to participate in the ministerial pension scheme are therefore required.
These amendments will:
Allow future Lord Chancellors, Prime Ministers and Commons Speakers to remain members of the ministerial pension scheme on appointment.
Allow the current Lord Chancellor to rejoin the ministerial pension scheme for future appointments.
The changes do not affect the current Prime Minister and Speaker.
The amendments do not make any provision in relation to an accrued right which puts—or might put—a person in a worse position than the person would have been in apart from the provision.
The details of the new scheme will be laid in the House today, along with a copy of the response to the consultation from the chairman of the parliamentary contributory pension fund trustees.