Introduction of PSP&JO Bill

On 19 July 2021, HM Treasury (HMT) introduced the Public Service Pensions & Judicial Offices Bill (PSP&JO Bill) to the House of Lords.

The PSP&JO Bill sets out in law how the government will remove the discrimination identified by the courts in the way that the 2015 reforms were introduced for some members (i.e. remedy).

This is the primary legislation which closes final salary schemes for pension build up past 31 March 2022 and moves all remaining members into FPS 2015, while making sure that existing transitional protections such as the final salary link and double accrual are kept.

More information about how benefits are calculated for transitional members of the FPS 2015 are available from the FPS 2015 transition members page, including details of how final salary accrual in the FPS 1992 is treated under the double accrual protection.

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