FOI reference - FOI 2010-05-06
Date - 06/05/2010

Request

Pensions paid out to the Pensions Regulator’s staff.

Response

1. The total number of staff to retire from the organisation: 

Financial Year                                                2007/09    2008/09    2009/10

Total Retirees                                                        8            9                4

The answer is based on those members going from an active member status (ie employed by the Regulator) to a pensioner status. It therefore excludes members who have taken payment, whether early (after age 50) or at normal retirement age (age 60), of their preserved benefits. Preserved benefits are where a member has left the employment of the Regulator but whose benefit entitlement has not been put into payment as they are either not entitled to claim it or they have chosen not to claim it at the point of leaving employment.

2. The number of staff who began drawing a pension accrued from their service at the organisation:

Financial Year                                                 2007/08     2008/09     2009/10
Total number of individuals drawing a pension.         8             10             5

The answer is based on the answer to Q1 but includes those members who claimed payment of their preserved benefits, whether early (after age 50) or at normal retirement age (age 60).

3. How many staff took early retirement:

Financial Year                                                 2007/08     2008/09     2009/10
Number of early Retirees                                     4                 2             2

The answer is based on those members going from an active member status to a pensioner status, who were aged 50 or over but under age 60. It therefore excludes members who have taken payment of the preserved retirement benefits early, ie before age 60. It also excludes those members who have retired on ill health grounds.

4. The average age of staff retiring:

Financial Year                                                 2007/08     2008/09     2009/10
Average age of Retirees                                     60                61            59

The answer is based on the members identified for Q1 and therefore only includes those going from an active member status to a pensioner status, therefore excluding those members who have taken payment of their preserved benefits.

5. The youngest age of a member of staff currently receiving a pension accrued while working for the organisation:

The youngest member is 48 years old and in receipt of ill Health Retirement (2009). The earliest that members can receive their pension is normally age 50 (55 if they joined after 01/04/2006), however they would receive lower benefits if they claim before they reach pension age. The answer is the youngest age of any member currently receiving a pension from the PCSPS who worked for the department. This includes those members who have claimed payment of their preserved benefits.

6. The number of staff under 55 who began claiming a Pension funded by the organisation:

Financial Year                                                 2007/08     2008/09     2009/10
Number of staff under 55                                         1             1                 1

This information is from those who retired from the organisation under compulsory or flexible retirement, approved early retirement, age retirement, ill health retirement or partial retirement. The answer is based the members identified for Q2 whose age when they first began claiming a pension was under 55.

7. Of all individuals currently receiving a Pension earned from service at the Organisation, how many are still working:

The department only holds data for staff who are employees only 2 members of staff are still working at the Regulator whilst receiving pension. We do not hold central data on staff in receipt of Civil Service pensions who are currently working for the organisation as Consultants or any other capacity, as these staff are not permanently employed are not members of the Civil Service Pension Scheme.

The Department has also provided links to other sources of information in which you may have an interest.

Parliamentary Questions may have been asked on these, or similar subjects, in the past. Hansard provides an archive of Parliamentary Questions and these can be found at: http://www.commonsleader.gov.uk/output/Page1.asp

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