Who cost sharing will apply to

If you are a contributing member of the Government Unified, Police, Teachers or Judicial pension schemes then cost sharing will apply to you under these schemes once a formal cost sharing valuation has been undertaken.

The first formal cost sharing valuations will not be undertaken until April 2022 and the results will not be available until into 2023. At this time, the Cost Sharing regulations mandate for the PSPA to have formal discussions with your trade union representatives to decide on the best course of action and legislate for these outcomes. Therefore, it is anticipated that any changes to future pension accrual or contribution rates that come out of these discussions, will not be implemented until April 2024. Therefore there is plenty of time for the PSPA and your trade union representatives to explain how this will work and what it might mean for you in practice. Therefore there is no reason for you to make any rash decisions about your future membership of a pension scheme given any changes that may result from cost sharing are still over 3 years away.