Pensions Calculator

by Hesham Zakai

Many of the strikers today are unhappy with changes to their pensions. A civil servant who works as the deputy head of a government building shared her calculations:

“Under the new plans, I’ll work six years longer, pay £87.86 more per month, and lose £24,680 over 20 years through the CPI they’re now basing it on. If I work until I’m 65-68, then I’ll lose £29,000, and if I retire at 60 I’ll lose £37,000.”

The Public and Commercial Services (PCS) Union have put a pensions calculator on their website so that their members can work out how much they will lose on their pensions under the government’s proposed changes.

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