The Government published draft valuations of the Civil Service Pension Scheme which the Scheme Advisory Board used to make recommendations to the Minister on amendments to the scheme from 1 April 2019. The default option is for an improvement of the accrual rate to bring the scheme within the required limits of the cost sharing mechanism. The SAB proposals recommended:
- A new contribution structure with a fairer structure and lower overall levels
- Improvements to death benefits
- Higher value accrual rate.