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Departmental Pensions

Volume 475: debated on Friday 9 May 2008

To ask the Secretary of State for Children, Schools and Families (1) what his most recent estimate is of the unfunded liability in present value terms of each public sector pension scheme for which his Department is responsible; and on what assumptions for (a) discount and (b) longevity the estimate is based; (200726)

(2) what the unfunded liability in present value terms was of each public sector pension scheme for which his Department is responsible in each year since 1990-91.

The Teachers’ Pension Scheme (TPS) is an unfunded defined benefit scheme. Liabilities are estimated each year by the Government Actuary’s Department and a statement is included in scheme resource accounts.