Public Sector: Occupational Pensions
The question
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the change to the SCAPE discount rate on the retirement plans of public sector workers within five years of their expected retirement date.
Answered by Lucy Rigby
The Government announced on 19 May 2026 that the SCAPE discount rate is 2%+CPI. The SCAPE discount rate must be reviewed periodically and calculated in accordance with current methodology. By way of background, the Government published its response to the public consultation on the discount rate methodology for public service pensions on 30 March 2023: Public service pension schemes - SCAPE discount rate methodology: a GAD technical bulletin - GOV.UK. As confirmed in that response, the existing methodology for setting the discount rate was retained.
The implementation of any changes is the responsibility of the individual authorities responsible.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →