Workplace Pensions: Public Sector
The question
To ask the Chancellor of the Exchequer, whether interest will be paid on delayed pension payments owed to retired members of public service pension schemes due to delays in implementing the McCloud remedy.
Answered by Torsten Bell
Scheme managers of the individual public service pension schemes are responsible for ensuring the effective delivery of the McCloud remedy to affected members. This is a complex and wide-ranging exercise and I acknowledge that some schemes have not made as much progress as we’d wish. I have written to scheme managers to remind them of their responsibilities to implement the remedy as quickly as possible and ensure that scheme members and the Pensions Regulator are kept informed of progress and plans. I can confirm that schemes pay interest to members on amounts owed as a result of the remedy.
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