The reasons for the 2015 reforms still stand: the government is committed to ensuring generous public service pension provision, but this has to be affordable and sustainable in the long term. The reforms aimed to achieve this, whilst also being fairer to lower and middle earners.
The scheme that was introduced in 2014 and 2015 following the recommendations of the Independent Public Service Pensions Commission (the reformed schemes) offers generous pension provision, improves affordability and sustainability, and is fairer to lower and middle earners.
alpha is one of the most generous available in the UK: backed by the taxpayer; index-linked; and offering guaranteed benefits on retirement; comparing very favourably to the typical private sector scheme.
The reforms created a fairer system. The move from (mostly) final salary to career average pension means members accrue their pension at a typically higher annual rate based on their average salary. Although some members are better off in legacy schemes, the reformed scheme is more beneficial for others, particularly many lower paid members.
The transitional protection policy, which gave rise to discrimination, was removed and, from 1 April 2022, all those who remain in service will do so as members of reformed schemes, treating everyone equally in this respect, and ensuring the aims of the 2015 reforms are met.