Pensions
PCS is campaigning for pensions justice for our members who have been overpaying for their pensions since 2019.
PCS has a proud record in defence of the pensions of our members. We were instrumental in bringing public sector unions together to resist the devaluing of pensions in 2011 which led to the largest ever strike in the public services.
When the government was forced to negotiate we ensured that the changes were recycled into a good rate of accrual and since The McCloud Judgement we have secured a no detriment approach to underpin the remedy and give members clear choices.
We have been proved right about the exaggeration of future pension costs now in two successive scheme valuations. In 2019 a recommended 2% cut in employee contributions was blocked by the government so with other unions we launched a joint legal action to challenge the government’s action which would stop scheme members getting any benefit from the promised cost sharing. Our action was initially unsuccessful but the unions were granted leave to appeal.
Since life expectancy is falling there is no case for raising retirement age in the state and occupational schemes. PCS stands with all those making the case for higher state pensions and defending the Triple Lock. We believe that pensions should be accessible without reduction from the age of 65.
There is always a long fight for pensions justice and the second scheme valuation published in October 2023 has moved the goal posts yet again. To keep member contributions the same as now the Treasury has imposed an “economic check” which changed the valuation outcome.
We took our case to the Court of Appeal in February. which has now rejected our appeal. We are considering our next steps.