The Single Public Service Pension Scheme (Single Scheme) started on 1 January 2013.
In general, all new entrants employed in pensionable public service posts, on or after 1 January 2013, are members of the Single Scheme.
The rules of the Single Scheme are set out in the Public Service Pensions (Single Scheme and Other Provisions) Act 2012.
The main provisions are:
- career-average earnings, rather than final salary, used to calculate benefits
- a pension and lump sum amount (‘referable amount’) accrue each year
- minimum pension age for most members is linked to the state pension age. This is age 66 years currently, rising to 67 in 2021 and 68 in 2028
- compulsory retirement at age 70
- pension increases are linked to the Consumer Price Index
Watch what to expect from your Single Scheme Benefit Statement