There have been major government reforms to pensions since 2010. The National Audit Office has produced a series of reports and has created a Pensions Landscape site enabling users to explore how the UK pension system fits together and the recent reforms.

Pensions Landscape site

Our new Pensions Landscape site enables users to explore:

  • The system as a whole – including how the state pension, public and private pensions work in the UK, and the roles of public bodies involved in pension provision.
  • Reforms to the pensions system since 2010.
  • Systemic challenges and risks across the pension landscape, such as making informed decisions at retirement, the availability of financial products, adequacy of retirement savings, and other issues.

We describe types of pensions, reforms, challenges, help available and protection mechanisms in our blog-post: Navigating a changing pensions landscape.

Recent NAO reports:

  • Introduction of the new state pension (November 2016): looks at whether the implementation of the new state pension by the Department for Work & Pensions and HM Revenue & Customs delivered value for money.
  • The impact of state pension reforms on people with Guaranteed Minimum Pensions (March 2016): reviews the Department for Work & Pensions’s approach to assessing and communicating the changes to Guaranteed Minimum Pensions resulting from the introduction of the new state pension.
  • Automatic enrolment to workplace pensions (November 2015): looks at how implementation of the Automatic Enrolment Programme has been managed across the three entities involved (the Department for Work & Pensions, The Pensions Regulator and the National Employment Savings Trust). It also looks at future challenges for the roll-out of the programme as smaller employers begin to join it.
  • Evaluating the government balance sheet: pensions (June 2016): this report is one of a series exploring some of the major risks to public finances highlighted in the Whole of Government Accounts (WGA). The government’s public sector pension liability has increased by around a third in five years and the number of people in retirement and eligible for government-funded pensions compared with those in work continues to increase.
  • Government Interventions to Support Future Retirement Incomes (July 2013): examines the actions government has been taking since the Pensions Commission reported in 2006 to mitigate the risk to public finances from an ageing population and how effectively it is being managed. It is intended as an overarching report to inform Parliament ahead of more detailed value-for-money reports on specific government actions.
  • Welfare reform – lessons learned (May 2015): Since 2010 the Department for Work & Pensions has changed the support it offers to jobseekers, pensioners, disabled people and separated parents. This report examines lessons from these welfare reforms.
  • Investigation into members’ experience of civil service pension administration (February 2016): The administration of the civil service pension payroll and certain other services moved from Capita to MyCSP in September 2014. Following these changes many scheme members and participating employers expressed dissatisfaction with the services provided by the pension administrator (MyCSP). Our investigation focuses on the quality of pension services provided to members and participating employers of the civil service pension schemes. It examines the nature and causes of the dissatisfaction, the steps taken to recover the situation and the challenges that remain to be overcome.
  • Investigation into Police and Firefighters Pension Scheme commutation factors (February 2017): covers the compensation paid by government to those that retired from the Police and Firefighters Pension Schemes 2001-’06 without receiving their full pension entitlement. These payments were made following the Pensions Ombudsman’s finding of maladministration in the Government Actuary Department’s handling of the administration of the factors that were used to convert annual pension entitlements to lump sum payments.
  • Fraud and Error Stocktake (July 2015): provides an overview of progress in reducing fraud and error in benefits and tax credits, including the state pension, and how departments are responding to emerging opportunities.