Are public sector pensions funded?

Most are not. The NHS, teachers’, civil service, armed forces, police and firefighters’ schemes are unfunded: pensions are paid from the contributions coming in, and the Exchequer meets any gap. The Local Government Pension Scheme, for council and many other staff, is funded: contributions are invested and pensions are paid from the funds.

Who pays public sector employer pension contributions?

The employer: an NHS trust, a school or academy trust, a government department, a police force or a fire authority. Almost all of them are funded by the taxpayer, so employer contributions are largely public money moved from one budget to another.

Why does the public sector pension liability change so much from year to year?

Because it is the value today of pensions to be paid over many decades, worked out with a discount rate linked to interest rates. When the rate rises, the liability falls, and the other way round, even when the pensions promised have not changed.

In this section: Public services

Public sector pensions

Last updated 29 September 2026. Figures refresh every night. How each figure is worked out.

£58.7bn was spent on public service pensions (the unfunded schemes) in the UK in 2024-25, £847 per resident. That is +6.0% on a year earlier after inflation (+10.3% in cash). In 2025-26 prices it has gone from £47.3bn in 2012-13 to £60.7bn. Employers paid in £45.0bn and members £14.0bn, so across the named schemes that year was a surplus of £991m for the Exchequer.

Figure as of 3 March 2026. Source: Office for Budget Responsibility.

Key figures

£58.7bnSpent in 2024-25, cash +10.3% on a year earlier As of 3 March 2026
+6.0%Real-terms change, 2024-25 on a year earlier £60.7bn in 2025-26 prices As of 3 March 2026
£847Per resident, 2024-25 As of 3 March 2026
−£991mNet cost to the Exchequer, 2024-25 (below zero: surplus) £58.7bn paid out, £59.7bn paid in As of 3 March 2026
£1,400.9bnOwed by the unfunded schemes, 31 March 2025 47.7% of GDP As of 18 June 2026

Sources: Office for Budget Responsibility, HM Treasury.

What is the short version?

Paid out £58.7bn in 2024-25 to pensioners of the unfunded schemes; employers and members paid in £59.7bn.
Most of what comes in is public money: employer contributions come from the budgets of hospitals, schools, departments and forces.
£1,400.9bn owed in pensions already earned in the unfunded schemes at 31 March 2025, a valuation that swings with interest rates.
Council staff are different: the Local Government Pension Scheme is funded, with £402.3bn invested in England and Wales at 31 March 2025.

Over the longest run published: cash, real terms and per head

United Kingdom: spending in cash and in 2025-26 prices, £ billion

Real terms use HM Treasury’s GDP deflator, 2025-26 prices. Breaks in the series: 2015-16: Before 2015-16 the OBR published these figures to the nearest £0.1 billion. The reformed career-average schemes opened in April 2015 (April 2014 for the LGPS in England and Wales). 2018-19: The Judicial Pension Scheme is named from 2018-19 (in the OBR’s “other” line before). 2019-20: Employer contribution rates rose sharply in April 2019 after the 2016 valuations (NHS from 14.38% to 20.68% of pay; teachers from 16.48% to 23.68%), with departments compensated for most of the cost. Contributions jump and the net cost falls. 2022-23: All active members moved into the reformed schemes in April 2022 (the McCloud remedy for age discrimination in the 2015 reforms). 2024-25: Employer rates rose again in April 2024 after the 2020 valuations. From 2024-25 the OBR names the Scottish police and firefighters’ schemes (about £0.75 billion paid out), which were in its “other” line before, so the UK total gains them from that year.

The numbers behind this chart

United Kingdom: spending in cash and in 2025-26 prices, £ billion (£ billion)
Year	Real terms (2025-26 prices)	Cash
2012-13 Details for 2012-13	£47.3bn	£32.7bn
Cash £32.7bn
2013-14 Details for 2013-14	£48.6bn	£34.3bn
Cash £34.3bn
2014-15 Details for 2014-15	£51.0bn	£36.5bn
Cash £36.5bn
2015-16 Details for 2015-16	£52.1bn	£37.6bn
Cash £37.6bn
2016-17 Details for 2016-17	£51.9bn	£38.1bn
Cash £38.1bn
2017-18 Details for 2017-18	£52.3bn	£38.9bn
Cash £38.9bn
2018-19 Details for 2018-19	£53.7bn	£40.9bn
Cash £40.9bn
2019-20 Details for 2019-20	£54.8bn	£42.8bn
Cash £42.8bn
2020-21 Details for 2020-21	£53.4bn	£43.9bn
Cash £43.9bn
2021-22 Details for 2021-22	£55.2bn	£45.5bn
Cash £45.5bn
2022-23 Details for 2022-23	£54.5bn	£48.1bn
Cash £48.1bn
2023-24 Details for 2023-24	£57.3bn	£53.2bn
Cash £53.2bn
2024-25 Details for 2024-25	£60.7bn	£58.7bn
Cash £58.7bn

Figure as of 3 March 2026. Source: Office for Budget Responsibility.

United Kingdom: spending per resident, 2025-26 prices

Per resident divides by ONS mid-year population estimates.

The numbers behind this chart

United Kingdom: spending per resident, 2025-26 prices (£ per resident)
Year	Per resident, 2025-26 prices	Per resident, cash
2012-13 Details for 2012-13	£742	£513
Per resident, cash £513
2013-14 Details for 2013-14	£758	£535
Per resident, cash £535
2014-15 Details for 2014-15	£789	£565
Per resident, cash £565
2015-16 Details for 2015-16	£801	£577
Per resident, cash £577
2016-17 Details for 2016-17	£791	£581
Per resident, cash £581
2017-18 Details for 2017-18	£792	£590
Per resident, cash £590
2018-19 Details for 2018-19	£810	£617
Per resident, cash £617
2019-20 Details for 2019-20	£822	£642
Per resident, cash £642
2020-21 Details for 2020-21	£800	£658
Per resident, cash £658
2021-22 Details for 2021-22	£824	£679
Per resident, cash £679
2022-23 Details for 2022-23	£806	£711
Per resident, cash £711
2023-24 Details for 2023-24	£836	£777
Per resident, cash £777
2024-25 Details for 2024-25	£876	£847
Per resident, cash £847

Figure as of 3 March 2026. Source: Office for Budget Responsibility.

Source: Office for Budget Responsibility, Economic and fiscal outlook, March 2026: detailed forecast tables, expenditure (breakdown of public service pension schemes expenditure and receipts), with 19 earlier editions for past years, published 3 March 2026.

Money out and money in

The NHS, teachers’, civil service, armed forces, police and firefighters’ schemes are unfunded: there is no pot of investments. Pensions are paid out of the contributions coming in from today’s staff and their employers, and the Exchequer meets any gap. Most employers are public bodies, so most of what comes in is itself public money.

Unfunded public service pensions: paid out and paid in, cash, £ billion

Line chart from 2012-13 to 2024-25: the unfunded schemes paid out £32.7bn in 2012-13 and £58.7bn in 2024-25; employers paid in £16.2bn and £45.0bn; members £6.9bn and £14.0bn.

The schemes the OBR names, added together. Net cost is paid out less everything paid in (contributions and other income); below zero, the schemes took in more than they paid out and the surplus went to the Treasury. Employer contributions rose in April 2019 and April 2024 after the schemes’ valuations. Before 2015-16 the OBR’s figures are rounded to £0.1 billion. Each year is from the newest Economic and fiscal outlook with that year as outturn (the latest is March 2026).

The numbers behind this chart

Unfunded public service pensions: paid out and paid in, cash, £ billion (£ billion, cash)
Year	Paid out (pensions, lump sums, leavers)	Paid in by employers	Paid in by members	Net cost to the Exchequer
2012-13 Details for 2012-13	£32.7bn	£16.2bn	£6.9bn	£8.8bn
Paid in by employers £16.2bn Paid in by members £6.9bn Net cost to the Exchequer £8.8bn
2013-14 Details for 2013-14	£34.3bn	£16.2bn	£8.1bn	£9.0bn
Paid in by employers £16.2bn Paid in by members £8.1bn Net cost to the Exchequer £9.0bn
2014-15 Details for 2014-15	£36.5bn	£16.5bn	£8.7bn	£10.7bn
Paid in by employers £16.5bn Paid in by members £8.7bn Net cost to the Exchequer £10.7bn
2015-16 Details for 2015-16	£37.6bn	£18.4bn	£8.8bn	£9.7bn
Paid in by employers £18.4bn Paid in by members £8.8bn Net cost to the Exchequer £9.7bn
2016-17 Details for 2016-17	£38.1bn	£19.1bn	£8.9bn	£9.4bn
Paid in by employers £19.1bn Paid in by members £8.9bn Net cost to the Exchequer £9.4bn
2017-18 Details for 2017-18	£38.9bn	£19.4bn	£9.1bn	£10.1bn
Paid in by employers £19.4bn Paid in by members £9.1bn Net cost to the Exchequer £10.1bn
2018-19 Details for 2018-19	£40.9bn	£20.0bn	£9.4bn	£11.2bn
Paid in by employers £20.0bn Paid in by members £9.4bn Net cost to the Exchequer £11.2bn
2019-20 Details for 2019-20	£42.8bn	£27.8bn	£9.9bn	£4.7bn
Paid in by employers £27.8bn Paid in by members £9.9bn Net cost to the Exchequer £4.7bn
2020-21 Details for 2020-21	£43.9bn	£30.5bn	£10.6bn	£2.3bn
Paid in by employers £30.5bn Paid in by members £10.6bn Net cost to the Exchequer £2.3bn
2021-22 Details for 2021-22	£45.5bn	£32.1bn	£11.3bn	£1.4bn
Paid in by employers £32.1bn Paid in by members £11.3bn Net cost to the Exchequer £1.4bn
2022-23 Details for 2022-23	£48.1bn	£33.8bn	£11.9bn	£1.6bn
Paid in by employers £33.8bn Paid in by members £11.9bn Net cost to the Exchequer £1.6bn
2023-24 Details for 2023-24	£53.2bn	£36.6bn	£12.8bn	£3.3bn
Paid in by employers £36.6bn Paid in by members £12.8bn Net cost to the Exchequer £3.3bn
2024-25 Details for 2024-25	£58.7bn	£45.0bn	£14.0bn	£-1.0bn
Paid in by employers £45.0bn Paid in by members £14.0bn Net cost to the Exchequer £-1.0bn

Figure as of 3 March 2026. Source: Office for Budget Responsibility.

Unfunded public service pensions: money out and money in, cash
Year	Paid out	Employers paid in	Members paid in	Net cost to the Exchequer	Paid in as a share of paid out
2024-25 Details for 2024-25	£58.7bn	£45.0bn	£14.0bn	−£991m	101.7%
Paid out £58.7bn Employers paid in £45.0bn Members paid in £14.0bn Paid in as a share of paid out 101.7%
2023-24 Details for 2023-24	£53.2bn	£36.6bn	£12.8bn	£3.3bn	93.8%
Paid out £53.2bn Employers paid in £36.6bn Members paid in £12.8bn Paid in as a share of paid out 93.8%
2022-23 Details for 2022-23	£48.1bn	£33.8bn	£11.9bn	£1.6bn	96.8%
Paid out £48.1bn Employers paid in £33.8bn Members paid in £11.9bn Paid in as a share of paid out 96.8%
2021-22 Details for 2021-22	£45.5bn	£32.1bn	£11.3bn	£1.4bn	96.8%
Paid out £45.5bn Employers paid in £32.1bn Members paid in £11.3bn Paid in as a share of paid out 96.8%
2020-21 Details for 2020-21	£43.9bn	£30.5bn	£10.6bn	£2.3bn	94.8%
Paid out £43.9bn Employers paid in £30.5bn Members paid in £10.6bn Paid in as a share of paid out 94.8%
2019-20 Details for 2019-20	£42.8bn	£27.8bn	£9.9bn	£4.7bn	89.0%
Paid out £42.8bn Employers paid in £27.8bn Members paid in £9.9bn Paid in as a share of paid out 89.0%

Scheme by scheme

Net cost to the Exchequer by scheme, 2024-25, £ million

Bar chart of each scheme’s net cost in 2024-25: NHS −£6.5bn, Teachers £1.2bn, Civil Service £704m, Armed Forces £1.3bn, Police £1.9bn, Scotland: NHS and teachers −£414m, Northern Ireland £190m, Fire £622m, Scotland: police £227m, Scotland: fire £73m, Judges −£286m.

A scheme below zero took in more than it paid out. The NHS scheme has more contributing members for each pensioner than the others; the armed forces scheme has no member contributions at all.

The numbers behind this chart

Net cost to the Exchequer by scheme, 2024-25, £ million (£ million, cash (below zero: surplus))
Item	Paid out less paid in, 2024-25
NHS	£-6,463m
Teachers	£1,160m
Civil Service	£704m
Armed Forces	£1,302m
Police	£1,893m
Scotland: NHS and teachers	£-414m
Northern Ireland	£190m
Fire	£622m
Scotland: police	£227m
Scotland: fire	£73m
Judges	£-286m

Figure as of 3 March 2026. Source: Office for Budget Responsibility.

Each unfunded scheme in 2024-25, cash
Scheme	Paid out	Employers paid in	Members paid in	Net cost	Covers
NHS Pension Scheme (England and Wales) Details for NHS Pension Scheme (England and Wales)	£18.2bn	£17.3bn	£7.1bn	−£6.5bn	England and Wales
Paid out £18.2bn Employers paid in £17.3bn Members paid in £7.1bn Covers England and Wales
Teachers’ Pension Scheme (England and Wales) Details for Teachers’ Pension Scheme (England and Wales)	£12.8bn	£8.7bn	£2.9bn	£1.2bn	England and Wales
Paid out £12.8bn Employers paid in £8.7bn Members paid in £2.9bn Covers England and Wales
Civil Service Pension Scheme Details for Civil Service Pension Scheme	£8.7bn	£6.6bn	£1.3bn	£704m	Great Britain and UK-wide bodies
Paid out £8.7bn Employers paid in £6.6bn Members paid in £1.3bn Covers Great Britain and UK-wide bodies
Armed Forces Pension Scheme Details for Armed Forces Pension Scheme	£6.3bn	£5.0bn	none	£1.3bn	United Kingdom
Paid out £6.3bn Employers paid in £5.0bn Members paid in none Covers United Kingdom
Police pension schemes (England and Wales) Details for Police pension schemes (England and Wales)	£4.9bn	£2.1bn	£811m	£1.9bn	England and Wales
Paid out £4.9bn Employers paid in £2.1bn Members paid in £811m Covers England and Wales
NHS and teachers’ pension schemes in Scotland Details for NHS and teachers’ pension schemes in Scotland	£3.6bn	£2.8bn	£1.1bn	−£414m	Scotland
Paid out £3.6bn Employers paid in £2.8bn Members paid in £1.1bn Covers Scotland
Northern Ireland Executive pension schemes Details for Northern Ireland Executive pension schemes	£2.2bn	£1.5bn	£482m	£190m	Northern Ireland
Paid out £2.2bn Employers paid in £1.5bn Members paid in £482m Covers Northern Ireland
Firefighters’ pension schemes (England) Details for Firefighters’ pension schemes (England)	£1.2bn	£387m	£137m	£622m	England
Paid out £1.2bn Employers paid in £387m Members paid in £137m Covers England
Police pension scheme in Scotland Details for Police pension scheme in Scotland	£597m	£278m	£86m	£227m	Scotland
Paid out £597m Employers paid in £278m Members paid in £86m Covers Scotland
Firefighters’ pension scheme in Scotland Details for Firefighters’ pension scheme in Scotland	£152m	£56m	£22m	£73m	Scotland
Paid out £152m Employers paid in £56m Members paid in £22m Covers Scotland
Judicial Pension Scheme Details for Judicial Pension Scheme	£34m	£299m	£20m	−£286m	United Kingdom
Paid out £34m Employers paid in £299m Members paid in £20m Covers United Kingdom

Scotland and Northern Ireland run their own NHS, teachers’, police and firefighters’ schemes; the civil service scheme covers Great Britain and some UK-wide bodies. Smaller schemes (Royal Mail’s statutory scheme, the UK Atomic Energy Authority’s, the research councils’ and others) are in the OBR’s “other” line, net only, and not in these totals.

What is owed

At 31 March 2025 the unfunded schemes owed £1,400.9bn in pensions already earned, and all public sector schemes together £1,395.8bn after the funded schemes’ assets. That is a valuation, not a bill: it is paid over the rest of members’ lives, and it is not part of public sector net debt.

What is owed: public sector pension liabilities at 31 March, £ billion

The value today of pensions already earned, from the Whole of Government Accounts. It rises and falls mainly with the discount rate used to value future payments (the rate fell in 2016-17 and rose sharply in 2022-23), not with the promises themselves. The 2010-11 fall is mostly the switch from RPI to CPI uprating. 2020-21 is missing the Scottish NHS and teachers’ schemes, which did not report.

The numbers behind this chart

What is owed: public sector pension liabilities at 31 March, £ billion (£ billion, cash, at 31 March)
Year	Unfunded schemes	All schemes, net of funded schemes’ assets
2009-10 Details for 2009-10	£1,015.6bn	£1,134.7bn
All schemes, net of funded schemes’ assets £1,134.7bn
2010-11 Details for 2010-11	£893.3bn	£959.5bn
All schemes, net of funded schemes’ assets £959.5bn
2011-12 Details for 2011-12	£917.3bn	£1,005.8bn
All schemes, net of funded schemes’ assets £1,005.8bn
2012-13 Details for 2012-13	£1,072.3bn	£1,171.6bn
All schemes, net of funded schemes’ assets £1,171.6bn
2013-14 Details for 2013-14	£1,205.8bn	£1,303.1bn
All schemes, net of funded schemes’ assets £1,303.1bn
2014-15 Details for 2014-15	£1,373.1bn	£1,493.3bn
All schemes, net of funded schemes’ assets £1,493.3bn
2015-16 Details for 2015-16	£1,320.4bn	£1,424.7bn
All schemes, net of funded schemes’ assets £1,424.7bn
2016-17 Details for 2016-17	£1,697.0bn	£1,834.7bn
All schemes, net of funded schemes’ assets £1,834.7bn
2017-18 Details for 2017-18	£1,741.8bn	£1,865.3bn
All schemes, net of funded schemes’ assets £1,865.3bn
2018-19 Details for 2018-19	£1,756.1bn	£1,893.9bn
All schemes, net of funded schemes’ assets £1,893.9bn
2019-20 Details for 2019-20	£2,061.9bn	£2,189.5bn
All schemes, net of funded schemes’ assets £2,189.5bn
2020-21 Details for 2020-21	£2,168.1bn	£2,306.2bn
All schemes, net of funded schemes’ assets £2,306.2bn
2021-22 Details for 2021-22	£2,539.3bn	£2,639.1bn
All schemes, net of funded schemes’ assets £2,639.1bn
2022-23 Details for 2022-23	£1,418.7bn	£1,415.0bn
All schemes, net of funded schemes’ assets £1,415.0bn
2023-24 Details for 2023-24	£1,315.9bn	£1,311.9bn
All schemes, net of funded schemes’ assets £1,311.9bn
2024-25 Details for 2024-25	£1,400.9bn	£1,395.8bn
All schemes, net of funded schemes’ assets £1,395.8bn

Figure as of 18 June 2026. Source: HM Treasury.

Unfunded pension liabilities as a share of GDP

Liability at 31 March divided by money GDP in the financial year that ends then (HM Treasury).

The numbers behind this chart

Unfunded pension liabilities as a share of GDP (% of GDP in the same financial year)
Year	Unfunded liability, % of GDP
2009-10	64.8%
2010-11	54.7%
2011-12	54.6%
2012-13	61.9%
2013-14	66.5%
2014-15	72.7%
2015-16	67.9%
2016-17	83.7%
2017-18	82.4%
2018-19	80.2%
2019-20	91.1%
2020-21	102.8%
2021-22	105.8%
2022-23	53.9%
2023-24	47.2%
2024-25	47.7%

Figure as of 18 June 2026. Source: HM Treasury.

Pension liabilities by workforce, £ billion at 31 March: 2024-25 and 2023-24
Workforce	2024-25	2023-24
NHS (UK) Details for NHS (UK)	£531.4bn	£500.8bn
2023-24 £500.8bn
Teachers (UK) Details for Teachers (UK)	£333.3bn	£307.8bn
2023-24 £307.8bn
Civil service Details for Civil service	£216.9bn	£208.1bn
2023-24 £208.1bn
Armed forces Details for Armed forces	£150.3bn	£144.6bn
2023-24 £144.6bn
Police Details for Police	£92.4bn	£93.9bn
2023-24 £93.9bn
Royal Mail Details for Royal Mail	£28.2bn	£28.7bn
2023-24 £28.7bn
Fire Details for Fire	£20.5bn	£17.6bn
2023-24 £17.6bn
Other unfunded Details for Other unfunded	£27.9bn	£14.4bn
2023-24 £14.4bn
All unfunded schemes Details for All unfunded schemes	£1,400.9bn	£1,315.9bn
2023-24 £1,315.9bn
Local government (funded, net of assets) Details for Local government (funded, net of assets)	£-1.7bn	£-2.8bn
2023-24 £-2.8bn
Other funded (net of assets) Details for Other funded (net of assets)	£-3.4bn	£-1.2bn
2023-24 £-1.2bn
Net public sector pension liability Details for Net public sector pension liability	£1,395.8bn	£1,311.9bn
2023-24 £1,311.9bn

Some of the schemes inside those totals, £ billion at 31 March (2024-25)
Scheme	2024-25	A year earlier
NHS Pension Scheme (England and Wales) Details for NHS Pension Scheme (England and Wales)	£457.2bn	£431.0bn
A year earlier £431.0bn
NHS Superannuation Scheme (Scotland) Details for NHS Superannuation Scheme (Scotland)	£53.7bn	£50.6bn
A year earlier £50.6bn
Health and Social Care Pension Scheme (Northern Ireland) Details for Health and Social Care Pension Scheme (Northern Ireland)	£20.5bn	£19.3bn
A year earlier £19.3bn
Teachers’ Pension Scheme (England and Wales) Details for Teachers’ Pension Scheme (England and Wales)	£290.7bn	£278.8bn
A year earlier £278.8bn
Scottish Teachers’ Pension Scheme Details for Scottish Teachers’ Pension Scheme	£30.2bn	£29.1bn
A year earlier £29.1bn
Teachers’ Superannuation Scheme (Northern Ireland) Details for Teachers’ Superannuation Scheme (Northern Ireland)	£12.4bn	—
A year earlier —
Civil Service Pension Scheme (Great Britain) Details for Civil Service Pension Scheme (Great Britain)	£200.9bn	£192.7bn
A year earlier £192.7bn
Armed Forces Pension Scheme Details for Armed Forces Pension Scheme	£150.3bn	£144.6bn
A year earlier £144.6bn
Police: Mayor’s Office for Policing and Crime (London) Details for Police: Mayor’s Office for Policing and Crime (London)	£20.3bn	£24.2bn
A year earlier £24.2bn
Police: Scottish Police Authority Details for Police: Scottish Police Authority	£12.7bn	£12.4bn
A year earlier £12.4bn
Police: Department of Justice (Northern Ireland) Details for Police: Department of Justice (Northern Ireland)	£7.3bn	£7.2bn
A year earlier £7.2bn

The accounts also charge notional interest on the liability each year. HM Treasury counts it inside debt interest: £19.4bn in 2025-26. It is on the debt interest page.

Source: HM Treasury, Whole of Government Accounts, 2009-10 to 2024-25: public sector pensions note, published 18 June 2026; HM Treasury, PESA 2026: table 5.2, public debt transactions, published 16 July 2026.

Where it is heading

Net cost of the unfunded schemes: outturn and the OBR’s forecast (March 2026), £ billion

The OBR’s forecast for the same schemes: paid out less paid in. A forecast under current policy, not a target; it moves with each Economic and fiscal outlook.

The numbers behind this chart

Net cost of the unfunded schemes: outturn and the OBR’s forecast (March 2026), £ billion (£ billion, cash (below zero: surplus))
Year	Outturn	Forecast, March 2026
2012-13 Details for 2012-13	£8.8bn	—
Forecast, March 2026 —
2013-14 Details for 2013-14	£9.0bn	—
Forecast, March 2026 —
2014-15 Details for 2014-15	£10.7bn	—
Forecast, March 2026 —
2015-16 Details for 2015-16	£9.7bn	—
Forecast, March 2026 —
2016-17 Details for 2016-17	£9.4bn	—
Forecast, March 2026 —
2017-18 Details for 2017-18	£10.1bn	—
Forecast, March 2026 —
2018-19 Details for 2018-19	£11.2bn	—
Forecast, March 2026 —
2019-20 Details for 2019-20	£4.7bn	—
Forecast, March 2026 —
2020-21 Details for 2020-21	£2.3bn	—
Forecast, March 2026 —
2021-22 Details for 2021-22	£1.4bn	—
Forecast, March 2026 —
2022-23 Details for 2022-23	£1.6bn	—
Forecast, March 2026 —
2023-24 Details for 2023-24	£3.3bn	—
Forecast, March 2026 —
2024-25 Details for 2024-25	£-1.0bn	£-1.0bn
Forecast, March 2026 £-1.0bn
2025-26 Details for 2025-26	—	£-1.5bn
Forecast, March 2026 £-1.5bn
2026-27 Details for 2026-27	—	£-5.2bn
Forecast, March 2026 £-5.2bn
2027-28 Details for 2027-28	—	£-5.7bn
Forecast, March 2026 £-5.7bn
2028-29 Details for 2028-29	—	£-6.7bn
Forecast, March 2026 £-6.7bn
2029-30 Details for 2029-30	—	£-6.7bn
Forecast, March 2026 £-6.7bn
2030-31 Details for 2030-31	—	£-7.6bn
Forecast, March 2026 £-7.6bn

Figure as of 3 March 2026. Source: Office for Budget Responsibility.

Public service pensions as a share of GDP, OBR long-term projection (Fiscal risks and sustainability, July 2026)

The OBR’s projection of spending on public service pensions, on its assumptions about the public sector workforce, pay and the schemes as reformed in 2015. A projection, not a forecast of policy.

The numbers behind this chart

Public service pensions as a share of GDP, OBR long-term projection (Fiscal risks and sustainability, July 2026) (% of GDP)
Year	Public service pensions, % of GDP
2025-26	1.38%
2030-31	1.16%
2035-36	1.06%
2045-46	0.86%
2055-56	0.81%
2065-66	0.89%
2075-76	0.87%

Figure as of 7 July 2026. Source: Office for Budget Responsibility.

More on the long-term pressures on the public finances: the long-term outlook.

Where the money goes, level by level

UK total (this level)
Nation not published
Department or service body
Local body not published
Spending category not published
Line or transaction not published

United Kingdom

What the unfunded public service pension schemes the OBR names paid out: pensions, lump sums and payments to leavers. Smaller schemes (the Royal Mail Statutory Pension Scheme, the UK Atomic Energy Authority’s, the research councils’ and others) are in the OBR’s “other” line, published net only, and are not included. The funded Local Government Pension Scheme is shown separately.

£58.7bn in 2024-25 (cash); £60.7bn in 2025-26 prices; £847 per resident; +10.3% on a year earlier in cash, +6.0% in real terms.

United Kingdom: by department or service body, 2024-25
Department or service body	Cash, 2024-25	Real terms (2025-26 prices)	Per resident	Real change on a year earlier	Source	Below this
NHS Pension Scheme (England and Wales) Details for NHS Pension Scheme (England and Wales)	£18.2bn	£18.8bn	£294	+8.3%	Office for Budget Responsibility	Local body not published: The OBR gives the scheme’s totals. The scheme’s accounts split benefits into pensions and lump sums and contributions into employers’ and members’ (in the table of scheme accounts below); they are not published by employer, trust or region.
Real terms (2025-26 prices) £18.8bn Per resident £294 Real change on a year earlier +8.3% Source Office for Budget Responsibility Below this Local body not published: The OBR gives the scheme’s totals. The scheme’s accounts split benefits into pensions and lump sums and contributions into employers’ and members’ (in the table of scheme accounts below); they are not published by employer, trust or region.
Teachers’ Pension Scheme (England and Wales) Details for Teachers’ Pension Scheme (England and Wales)	£12.8bn	£13.2bn	£207	+4.2%	Office for Budget Responsibility	Local body not published: The OBR gives the scheme’s totals. The scheme’s accounts split benefits into pensions and lump sums; nothing is published by school, academy trust or council.
Real terms (2025-26 prices) £13.2bn Per resident £207 Real change on a year earlier +4.2% Source Office for Budget Responsibility Below this Local body not published: The OBR gives the scheme’s totals. The scheme’s accounts split benefits into pensions and lump sums; nothing is published by school, academy trust or council.
Civil Service Pension Scheme Details for Civil Service Pension Scheme	£8.7bn	£9.0bn	£130	+1.4%	Office for Budget Responsibility	Local body not published: The OBR gives the scheme’s totals. Employer contributions are paid by each department and are in its own accounts; the scheme does not publish benefits by department.
Real terms (2025-26 prices) £9.0bn Per resident £130 Real change on a year earlier +1.4% Source Office for Budget Responsibility Below this Local body not published: The OBR gives the scheme’s totals. Employer contributions are paid by each department and are in its own accounts; the scheme does not publish benefits by department.
Armed Forces Pension Scheme Details for Armed Forces Pension Scheme	£6.3bn	£6.5bn	£90.95	+3.7%	Office for Budget Responsibility	Local body not published: The OBR gives the scheme’s totals. The scheme’s accounts split benefits into pensions and lump sums; not by service (Navy, Army, RAF).
Real terms (2025-26 prices) £6.5bn Per resident £90.95 Real change on a year earlier +3.7% Source Office for Budget Responsibility Below this Local body not published: The OBR gives the scheme’s totals. The scheme’s accounts split benefits into pensions and lump sums; not by service (Navy, Army, RAF).
Police pension schemes (England and Wales) Details for Police pension schemes (England and Wales)	£4.9bn	£5.1bn	£79.30	+5.0%	Office for Budget Responsibility	Local body not published: Each police force (the police and crime commissioner) keeps its own pension fund account in its statement of accounts, and the Home Office pays each a top-up grant for the gap. No table of all forces is published.
Real terms (2025-26 prices) £5.1bn Per resident £79.30 Real change on a year earlier +5.0% Source Office for Budget Responsibility Below this Local body not published: Each police force (the police and crime commissioner) keeps its own pension fund account in its statement of accounts, and the Home Office pays each a top-up grant for the gap. No table of all forces is published.
NHS and teachers’ pension schemes in Scotland Details for NHS and teachers’ pension schemes in Scotland	£3.6bn	£3.7bn	£642	−1.0%	Office for Budget Responsibility	Local body not published: The Scottish Public Pensions Agency publishes the NHS and teachers’ schemes’ accounts separately; the OBR gives them together.
Real terms (2025-26 prices) £3.7bn Per resident £642 Real change on a year earlier −1.0% Source Office for Budget Responsibility Below this Local body not published: The Scottish Public Pensions Agency publishes the NHS and teachers’ schemes’ accounts separately; the OBR gives them together.
Northern Ireland Executive pension schemes Details for Northern Ireland Executive pension schemes	£2.2bn	£2.3bn	£1,146	+8.2%	Office for Budget Responsibility	Local body not published: The OBR gives the Northern Ireland Executive’s schemes (health and social care, teachers, civil service, police, firefighters) together; each publishes its own accounts.
Real terms (2025-26 prices) £2.3bn Per resident £1,146 Real change on a year earlier +8.2% Source Office for Budget Responsibility Below this Local body not published: The OBR gives the Northern Ireland Executive’s schemes (health and social care, teachers, civil service, police, firefighters) together; each publishes its own accounts.
Firefighters’ pension schemes (England) Details for Firefighters’ pension schemes (England)	£1.2bn	£1.3bn	£21.02	+13.7%	Office for Budget Responsibility	Local body not published: Each fire and rescue authority keeps its own firefighters’ pension fund account, topped up by a government grant. No table of all authorities is published.
Real terms (2025-26 prices) £1.3bn Per resident £21.02 Real change on a year earlier +13.7% Source Office for Budget Responsibility Below this Local body not published: Each fire and rescue authority keeps its own firefighters’ pension fund account, topped up by a government grant. No table of all authorities is published.
Police pension scheme in Scotland Details for Police pension scheme in Scotland	£597m	£617m	£108	—	Office for Budget Responsibility	Local body not published: The Scottish Public Pensions Agency’s accounts for the police scheme; not broken down further here.
Real terms (2025-26 prices) £617m Per resident £108 Real change on a year earlier — Source Office for Budget Responsibility Below this Local body not published: The Scottish Public Pensions Agency’s accounts for the police scheme; not broken down further here.
Firefighters’ pension scheme in Scotland Details for Firefighters’ pension scheme in Scotland	£152m	£158m	£27.47	—	Office for Budget Responsibility	Local body not published: The Scottish Public Pensions Agency’s accounts for the firefighters’ scheme; not broken down further here.
Real terms (2025-26 prices) £158m Per resident £27.47 Real change on a year earlier — Source Office for Budget Responsibility Below this Local body not published: The Scottish Public Pensions Agency’s accounts for the firefighters’ scheme; not broken down further here.
Judicial Pension Scheme Details for Judicial Pension Scheme	£34m	£35m	£0.49	−85.4%	Office for Budget Responsibility	Local body not published: Not broken down further.
Real terms (2025-26 prices) £35m Per resident £0.49 Real change on a year earlier −85.4% Source Office for Budget Responsibility Below this Local body not published: Not broken down further.

Cash is as published. Real terms are in 2025-26 prices, using HM Treasury’s GDP deflator. Per resident divides by ONS mid-year population for the area the body serves. Changes compare the same body in consecutive years.

Members, pensioners and contribution rates

The four biggest schemes: members and contribution rates, from each scheme’s latest accounts
Scheme	Contributing members	Deferred members	Pensions in payment	Employer rate	Member rate	Liability at year end	Benefits paid
NHS Pension Scheme (England and Wales), 2025-26 Details for NHS Pension Scheme (England and Wales), 2025-26	1,909,142	864,417	1,253,762	23.7% of pensionable pay	—	£443.9bn	£18.5bn
Contributing members 1,909,142 Deferred members 864,417 Employer rate 23.7% of pensionable pay Member rate — Liability at year end £443.9bn Benefits paid £18.5bn
Teachers’ Pension Scheme (England and Wales), 2025-26 Details for Teachers’ Pension Scheme (England and Wales), 2025-26	682,081	801,486	781,741	28.6% of pensionable pay	9.7% of pensionable pay on average	£275.0bn	£13.1bn
Contributing members 682,081 Deferred members 801,486 Employer rate 28.6% of pensionable pay Member rate 9.7% of pensionable pay on average Liability at year end £275.0bn Benefits paid £13.1bn
Civil Service Pension Scheme, 2024-25 Details for Civil Service Pension Scheme, 2024-25	606,054	355,529	740,944	28.97% of pensionable pay on average (27.0% before April 2024)	4.6% to 8.1% of pensionable pay, by pay	£197.0bn	£8.7bn
Contributing members 606,054 Deferred members 355,529 Employer rate 28.97% of pensionable pay on average (27.0% before April 2024) Member rate 4.6% to 8.1% of pensionable pay, by pay Liability at year end £197.0bn Benefits paid £8.7bn
Armed Forces Pension Scheme, 2025-26 Details for Armed Forces Pension Scheme, 2025-26	242,069	474,223	477,816	73.6% of pensionable pay (including 2.1% for the Armed Forces Compensation Scheme)	Members do not contribute (the small employee figure is purchases of added years)	£143.9bn	£6.1bn
Contributing members 242,069 Deferred members 474,223 Employer rate 73.6% of pensionable pay (including 2.1% for the Armed Forces Compensation Scheme) Member rate Members do not contribute (the small employee figure is purchases of added years) Liability at year end £143.9bn Benefits paid £6.1bn

Counts at: NHS, 31 March 2026; Teachers, 31 March 2026 for pensioners and 31 March 2025 for other members (reported a year in arrears); Civil Service, 31 March 2025; Armed Forces, 31 March 2026 (counted as benefits, not people). Contributions exceeded benefits: the scheme returns its £7.4bn surplus cash to HM Treasury. Sources: NHS accounts 2025-26, Teachers accounts 2025-26, Civil Service accounts 2024-25, Armed Forces accounts 2025-26 (checked 24 September 2026). Accounts can be a year ahead of the OBR’s outturn above. Contribution rates are set by each scheme’s valuation, every four years.

The Local Government Pension Scheme: funded

Council staff, school support staff and many other public and some private employers’ staff belong to the Local Government Pension Scheme. Unlike the schemes above it is funded: contributions are invested in 87 funds in England and Wales, and pensions are paid from the funds, not by the Exchequer. Employers’ contributions still come mostly from council and other public budgets. Its figures are kept apart from the unfunded schemes and never added to them.

Local Government Pension Scheme, England and Wales: paid out and paid in, cash, £ billion

MHCLG’s SF3 statistics, each year from the newest edition that has it. Employer contributions jump in some years when councils pay three years’ deficit contributions up front (2017-18 and 2020-21). Investment income excludes gains in the value of the investments.

The numbers behind this chart

Local Government Pension Scheme, England and Wales: paid out and paid in, cash, £ billion (£ billion, cash)
Year	Benefits paid	Employer contributions	Member contributions	Investment income
2012-13 Details for 2012-13	£8.0bn	£6.2bn	£1.9bn	£3.1bn
Employer contributions £6.2bn Member contributions £1.9bn Investment income £3.1bn
2013-14 Details for 2013-14	£8.4bn	£6.5bn	£2.0bn	£3.3bn
Employer contributions £6.5bn Member contributions £2.0bn Investment income £3.3bn
2014-15 Details for 2014-15	£8.9bn	£7.3bn	£2.1bn	£3.5bn
Employer contributions £7.3bn Member contributions £2.1bn Investment income £3.5bn
2015-16 Details for 2015-16	£9.2bn	£7.1bn	£2.1bn	£3.6bn
Employer contributions £7.1bn Member contributions £2.1bn Investment income £3.6bn
2016-17 Details for 2016-17	£9.5bn	£7.4bn	£2.1bn	£3.9bn
Employer contributions £7.4bn Member contributions £2.1bn Investment income £3.9bn
2017-18 Details for 2017-18	£9.8bn	£9.5bn	£2.1bn	£4.4bn
Employer contributions £9.5bn Member contributions £2.1bn Investment income £4.4bn
2018-19 Details for 2018-19	£10.4bn	£7.1bn	£2.2bn	£4.4bn
Employer contributions £7.1bn Member contributions £2.2bn Investment income £4.4bn
2019-20 Details for 2019-20	£10.9bn	£7.7bn	£2.3bn	£4.4bn
Employer contributions £7.7bn Member contributions £2.3bn Investment income £4.4bn
2020-21 Details for 2020-21	£11.1bn	£10.3bn	£2.4bn	£3.7bn
Employer contributions £10.3bn Member contributions £2.4bn Investment income £3.7bn
2021-22 Details for 2021-22	£11.5bn	£7.8bn	£2.6bn	£4.5bn
Employer contributions £7.8bn Member contributions £2.6bn Investment income £4.5bn
2022-23 Details for 2022-23	£12.3bn	£8.4bn	£2.8bn	£5.1bn
Employer contributions £8.4bn Member contributions £2.8bn Investment income £5.1bn
2023-24 Details for 2023-24	£13.7bn	£10.5bn	£3.1bn	£5.9bn
Employer contributions £10.5bn Member contributions £3.1bn Investment income £5.9bn
2024-25 Details for 2024-25	£15.4bn	£10.1bn	£3.2bn	£7.0bn
Employer contributions £10.1bn Member contributions £3.2bn Investment income £7.0bn

Figure as of 22 October 2025. Source: Ministry of Housing, Communities and Local Government.

Local Government Pension Scheme, England and Wales: value of the funds at 31 March, £ billion

The numbers behind this chart

Local Government Pension Scheme, England and Wales: value of the funds at 31 March, £ billion (£ billion, cash)
Year	Market value of the funds
2012-13	£176.8bn
2013-14	£188.6bn
2014-15	£214.0bn
2015-16	£213.9bn
2016-17	£258.8bn
2017-18	£270.9bn
2018-19	£287.2bn
2019-20	£272.4bn
2020-21	£337.1bn
2021-22	£364.0bn
2022-23	£359.2bn
2023-24	£391.5bn
2024-25	£402.3bn

Figure as of 22 October 2025. Source: Ministry of Housing, Communities and Local Government.

Local Government Pension Scheme, England and Wales, cash
Year	Benefits paid	Contributions	Contributions less benefits	Value of the funds	Members (thousands)
2024-25 Details for 2024-25	£15.4bn	£13.3bn	−£2.0bn	£402.3bn	6,860
Benefits paid £15.4bn Contributions £13.3bn Value of the funds £402.3bn Members (thousands) 6,860
2023-24 Details for 2023-24	£13.7bn	£13.6bn	−£148m	£391.5bn	6,740
Benefits paid £13.7bn Contributions £13.6bn Value of the funds £391.5bn Members (thousands) 6,740
2022-23 Details for 2022-23	£12.3bn	£11.3bn	−£998m	£359.2bn	6,570
Benefits paid £12.3bn Contributions £11.3bn Value of the funds £359.2bn Members (thousands) 6,570
2021-22 Details for 2021-22	£11.5bn	£10.4bn	−£1.2bn	£364.0bn	6,318
Benefits paid £11.5bn Contributions £10.4bn Value of the funds £364.0bn Members (thousands) 6,318
2020-21 Details for 2020-21	£11.1bn	£12.8bn	£1.7bn	£337.1bn	6,129
Benefits paid £11.1bn Contributions £12.8bn Value of the funds £337.1bn Members (thousands) 6,129
2019-20 Details for 2019-20	£10.9bn	£10.0bn	−£913m	£272.4bn	6,059
Benefits paid £10.9bn Contributions £10.0bn Value of the funds £272.4bn Members (thousands) 6,059

Source: Ministry of Housing, Communities and Local Government, Local government pension scheme funds for England and Wales, 2024-25 (SF3): tables 1, 2 and 4, with earlier editions back to 2016-17, published 22 October 2025.

Fund by fund

Each fund is run by a council (or, for the Environment Agency, the South Yorkshire Pensions Authority and the London Pensions Fund Authority, a body of its own) and covers the councils, schools and other employers that belong to it, so a fund’s area is usually wider than its council’s. These figures sit beside the money; none of them shows how well a fund is run.

Every LGPS fund in England and Wales, 2024-25
Fund	Benefits paid	Members	Employers’ primary rate	Administration cost per member	Assets per member	Investment costs, % of assets	Pensioners per 100 contributing members
England Details for England	£14.4bn	6,445,328	—	£32.51	£58,404	0.49%	102
Members 6,445,328 Employers’ primary rate — Administration cost per member £32.51 Assets per member £58,404 Investment costs, % of assets 0.49% Pensioners per 100 contributing members 102
Wales Details for Wales	£975m	414,792	—	£40.64	£62,415	0.43%	86
Members 414,792 Employers’ primary rate — Administration cost per member £40.64 Assets per member £62,415 Investment costs, % of assets 0.43% Pensioners per 100 contributing members 86
England and Wales Details for England and Wales	£15.4bn	6,860,120	—	£33.00	£58,646	0.49%	101
Members 6,860,120 Employers’ primary rate — Administration cost per member £33.00 Assets per member £58,646 Investment costs, % of assets 0.49% Pensioners per 100 contributing members 101
Barking & Dagenham Details for Barking & Dagenham	£58m	20,696	21.2%	£36.82	£74,958	0.32%	106
Members 20,696 Employers’ primary rate 21.2% Administration cost per member £36.82 Assets per member £74,958 Investment costs, % of assets 0.32% Pensioners per 100 contributing members 106
Barnet Details for Barnet	£77m	29,865	20.0%	£62.98	£56,733	0.89%	115
Members 29,865 Employers’ primary rate 20.0% Administration cost per member £62.98 Assets per member £56,733 Investment costs, % of assets 0.89% Pensioners per 100 contributing members 115
Bath & North East Somerset Details for Bath & North East Somerset	£251m	129,523	18.6%	£35.07	£44,674	0.39%	98
Members 129,523 Employers’ primary rate 18.6% Administration cost per member £35.07 Assets per member £44,674 Investment costs, % of assets 0.39% Pensioners per 100 contributing members 98
Bedfordshire Details for Bedfordshire	£143m	83,168	19.6%	£27.99	£43,941	0.64%	92
Members 83,168 Employers’ primary rate 19.6% Administration cost per member £27.99 Assets per member £43,941 Investment costs, % of assets 0.64% Pensioners per 100 contributing members 92
Bexley Details for Bexley	£44m	17,805	20.8%	£37.91	£57,988	0.93%	108
Members 17,805 Employers’ primary rate 20.8% Administration cost per member £37.91 Assets per member £57,988 Investment costs, % of assets 0.93% Pensioners per 100 contributing members 108
Brent Details for Brent	£60m	22,794	21.3%	£106.48	£57,594	0.18%	114
Members 22,794 Employers’ primary rate 21.3% Administration cost per member £106.48 Assets per member £57,594 Investment costs, % of assets 0.18% Pensioners per 100 contributing members 114
Bromley Details for Bromley	£44m	21,286	19.0%	£51.49	£69,938	0.49%	93
Members 21,286 Employers’ primary rate 19.0% Administration cost per member £51.49 Assets per member £69,938 Investment costs, % of assets 0.49% Pensioners per 100 contributing members 93
Buckinghamshire Details for Buckinghamshire	£162m	84,755	19.7%	£33.15	£50,863	0.67%	93
Members 84,755 Employers’ primary rate 19.7% Administration cost per member £33.15 Assets per member £50,863 Investment costs, % of assets 0.67% Pensioners per 100 contributing members 93
Cambridgeshire Details for Cambridgeshire	£155m	101,094	18.4%	£32.06	£48,533	0.47%	84
Members 101,094 Employers’ primary rate 18.4% Administration cost per member £32.06 Assets per member £48,533 Investment costs, % of assets 0.47% Pensioners per 100 contributing members 84
Camden Details for Camden	£77m	23,578	20.0%	£39.10	£92,082	0.66%	128
Members 23,578 Employers’ primary rate 20.0% Administration cost per member £39.10 Assets per member £92,082 Investment costs, % of assets 0.66% Pensioners per 100 contributing members 128
Cardiff Details for Cardiff	£121m	47,497	18.3%	£50.95	£64,868	0.20%	78
Members 47,497 Employers’ primary rate 18.3% Administration cost per member £50.95 Assets per member £64,868 Investment costs, % of assets 0.20% Pensioners per 100 contributing members 78
Carmarthenshire Details for Carmarthenshire	£124m	53,762	19.8%	£32.79	£66,264	0.28%	90
Members 53,762 Employers’ primary rate 19.8% Administration cost per member £32.79 Assets per member £66,264 Investment costs, % of assets 0.28% Pensioners per 100 contributing members 90
Cheshire Details for Cheshire	£261m	118,259	21.9%	£27.75	£56,663	0.37%	73
Members 118,259 Employers’ primary rate 21.9% Administration cost per member £27.75 Assets per member £56,663 Investment costs, % of assets 0.37% Pensioners per 100 contributing members 73
City of London Details for City of London	£63m	15,532	18.6%	£50.80	£98,201	0.47%	96
Members 15,532 Employers’ primary rate 18.6% Administration cost per member £50.80 Assets per member £98,201 Investment costs, % of assets 0.47% Pensioners per 100 contributing members 96
Cornwall Details for Cornwall	£110m	60,928	20.5%	£34.01	£41,457	0.93%	109
Members 60,928 Employers’ primary rate 20.5% Administration cost per member £34.01 Assets per member £41,457 Investment costs, % of assets 0.93% Pensioners per 100 contributing members 109
Croydon Details for Croydon	£76m	32,034	20.4%	£47.32	£61,283	0.66%	102
Members 32,034 Employers’ primary rate 20.4% Administration cost per member £47.32 Assets per member £61,283 Investment costs, % of assets 0.66% Pensioners per 100 contributing members 102
Cumbria Details for Cumbria	£128m	67,223	18.9%	£37.00	£51,704	0.63%	98
Members 67,223 Employers’ primary rate 18.9% Administration cost per member £37.00 Assets per member £51,704 Investment costs, % of assets 0.63% Pensioners per 100 contributing members 98
Derbyshire Details for Derbyshire	£245m	111,270	21.0%	£27.86	£60,139	0.46%	99
Members 111,270 Employers’ primary rate 21.0% Administration cost per member £27.86 Assets per member £60,139 Investment costs, % of assets 0.46% Pensioners per 100 contributing members 99
Devon Details for Devon	£259m	131,251	19.2%	£25.03	£46,701	0.45%	103
Members 131,251 Employers’ primary rate 19.2% Administration cost per member £25.03 Assets per member £46,701 Investment costs, % of assets 0.45% Pensioners per 100 contributing members 103
Dorset Details for Dorset	£182m	82,779	19.1%	£32.93	£49,352	0.46%	107
Members 82,779 Employers’ primary rate 19.1% Administration cost per member £32.93 Assets per member £49,352 Investment costs, % of assets 0.46% Pensioners per 100 contributing members 107
Durham Details for Durham	£188m	66,998	18.9%	£18.64	£56,007	0.31%	100
Members 66,998 Employers’ primary rate 18.9% Administration cost per member £18.64 Assets per member £56,007 Investment costs, % of assets 0.31% Pensioners per 100 contributing members 100
Ealing Details for Ealing	£68m	28,559	22.5%	£66.81	£60,005	0.22%	92
Members 28,559 Employers’ primary rate 22.5% Administration cost per member £66.81 Assets per member £60,005 Investment costs, % of assets 0.22% Pensioners per 100 contributing members 92
East Riding of Yorkshire Details for East Riding of Yorkshire	£233m	131,526	20.9%	£26.15	£53,677	0.03%	99
Members 131,526 Employers’ primary rate 20.9% Administration cost per member £26.15 Assets per member £53,677 Investment costs, % of assets 0.03% Pensioners per 100 contributing members 99
East Sussex Details for East Sussex	£178m	87,256	20.2%	£40.16	£57,171	0.51%	106
Members 87,256 Employers’ primary rate 20.2% Administration cost per member £40.16 Assets per member £57,171 Investment costs, % of assets 0.51% Pensioners per 100 contributing members 106
Enfield Details for Enfield	£62m	24,617	18.9%	£63.37	£65,184	0.69%	92
Members 24,617 Employers’ primary rate 18.9% Administration cost per member £63.37 Assets per member £65,184 Investment costs, % of assets 0.69% Pensioners per 100 contributing members 92
Environment Agency Active Pension Fund Details for Environment Agency Active Pension Fund	£136m	31,297	24.2%	£65.69	£152,216	0.43%	63
Members 31,297 Employers’ primary rate 24.2% Administration cost per member £65.69 Assets per member £152,216 Investment costs, % of assets 0.43% Pensioners per 100 contributing members 63
Environment Agency Closed Pension Fund Details for Environment Agency Closed Pension Fund	£42m	8,790	0.0%	£81.23	£27,311	0.02%	—
Members 8,790 Employers’ primary rate 0.0% Administration cost per member £81.23 Assets per member £27,311 Investment costs, % of assets 0.02% Pensioners per 100 contributing members —
Essex Details for Essex	£354m	183,353	22.0%	£26.10	£62,699	0.76%	94
Members 183,353 Employers’ primary rate 22.0% Administration cost per member £26.10 Assets per member £62,699 Investment costs, % of assets 0.76% Pensioners per 100 contributing members 94
Flintshire Details for Flintshire	£111m	48,588	19.2%	£57.46	£50,339	1.10%	99
Members 48,588 Employers’ primary rate 19.2% Administration cost per member £57.46 Assets per member £50,339 Investment costs, % of assets 1.10% Pensioners per 100 contributing members 99
Gloucestershire Details for Gloucestershire	£123m	64,853	21.8%	£42.36	£55,363	0.81%	101
Members 64,853 Employers’ primary rate 21.8% Administration cost per member £42.36 Assets per member £55,363 Investment costs, % of assets 0.81% Pensioners per 100 contributing members 101
Greenwich Details for Greenwich	£81m	27,579	18.2%	£50.73	£63,618	0.24%	101
Members 27,579 Employers’ primary rate 18.2% Administration cost per member £50.73 Assets per member £63,618 Investment costs, % of assets 0.24% Pensioners per 100 contributing members 101
Gwynedd Details for Gwynedd	£95m	47,472	21.8%	£41.88	£68,076	0.49%	66
Members 47,472 Employers’ primary rate 21.8% Administration cost per member £41.88 Assets per member £68,076 Investment costs, % of assets 0.49% Pensioners per 100 contributing members 66
Hackney Details for Hackney	£81m	28,003	20.4%	£57.78	£75,697	0.59%	115
Members 28,003 Employers’ primary rate 20.4% Administration cost per member £57.78 Assets per member £75,697 Investment costs, % of assets 0.59% Pensioners per 100 contributing members 115
Hammersmith & Fulham Details for Hammersmith & Fulham	£59m	18,406	20.7%	£61.77	£76,792	0.48%	127
Members 18,406 Employers’ primary rate 20.7% Administration cost per member £61.77 Assets per member £76,792 Investment costs, % of assets 0.48% Pensioners per 100 contributing members 127
Hampshire Details for Hampshire	£390m	212,203	18.1%	£15.41	£48,142	0.97%	92
Members 212,203 Employers’ primary rate 18.1% Administration cost per member £15.41 Assets per member £48,142 Investment costs, % of assets 0.97% Pensioners per 100 contributing members 92
Haringey Details for Haringey	£74m	24,778	17.3%	£53.96	£78,300	0.28%	140
Members 24,778 Employers’ primary rate 17.3% Administration cost per member £53.96 Assets per member £78,300 Investment costs, % of assets 0.28% Pensioners per 100 contributing members 140
Harrow Details for Harrow	£50m	20,258	18.1%	£51.34	£53,154	0.26%	127
Members 20,258 Employers’ primary rate 18.1% Administration cost per member £51.34 Assets per member £53,154 Investment costs, % of assets 0.26% Pensioners per 100 contributing members 127
Havering Details for Havering	£49m	22,634	20.7%	£44.36	£44,554	0.42%	89
Members 22,634 Employers’ primary rate 20.7% Administration cost per member £44.36 Assets per member £44,554 Investment costs, % of assets 0.42% Pensioners per 100 contributing members 89
Hertfordshire Details for Hertfordshire	£236m	123,100	21.1%	£41.84	£52,078	0.37%	76
Members 123,100 Employers’ primary rate 21.1% Administration cost per member £41.84 Assets per member £52,078 Investment costs, % of assets 0.37% Pensioners per 100 contributing members 76
Hillingdon Details for Hillingdon	£65m	30,486	23.5%	£39.76	£46,133	0.82%	93
Members 30,486 Employers’ primary rate 23.5% Administration cost per member £39.76 Assets per member £46,133 Investment costs, % of assets 0.82% Pensioners per 100 contributing members 93
Hounslow Details for Hounslow	£59m	24,631	19.3%	£49.98	£55,377	0.74%	129
Members 24,631 Employers’ primary rate 19.3% Administration cost per member £49.98 Assets per member £55,377 Investment costs, % of assets 0.74% Pensioners per 100 contributing members 129
Isle of Wight Details for Isle of Wight	£30m	18,668	22.0%	£71.14	£42,844	0.95%	143
Members 18,668 Employers’ primary rate 22.0% Administration cost per member £71.14 Assets per member £42,844 Investment costs, % of assets 0.95% Pensioners per 100 contributing members 143
Islington Details for Islington	£79m	22,921	18.3%	£88.04	£88,924	0.49%	102
Members 22,921 Employers’ primary rate 18.3% Administration cost per member £88.04 Assets per member £88,924 Investment costs, % of assets 0.49% Pensioners per 100 contributing members 102
Kensington & Chelsea Details for Kensington & Chelsea	£46m	13,314	15.0%	£106.73	£137,153	0.30%	100
Members 13,314 Employers’ primary rate 15.0% Administration cost per member £106.73 Assets per member £137,153 Investment costs, % of assets 0.30% Pensioners per 100 contributing members 100
Kent Details for Kent	£333m	158,479	20.5%	£37.80	£53,330	0.39%	92
Members 158,479 Employers’ primary rate 20.5% Administration cost per member £37.80 Assets per member £53,330 Investment costs, % of assets 0.39% Pensioners per 100 contributing members 92
Kingston upon Thames Details for Kingston upon Thames	£44m	19,719	18.6%	£54.01	£65,633	0.47%	101
Members 19,719 Employers’ primary rate 18.6% Administration cost per member £54.01 Assets per member £65,633 Investment costs, % of assets 0.47% Pensioners per 100 contributing members 101
Lambeth Details for Lambeth	£77m	22,133	19.3%	£96.15	£81,094	0.44%	169
Members 22,133 Employers’ primary rate 19.3% Administration cost per member £96.15 Assets per member £81,094 Investment costs, % of assets 0.44% Pensioners per 100 contributing members 169
Lancashire Details for Lancashire	£411m	206,947	19.2%	£29.15	£57,861	0.75%	91
Members 206,947 Employers’ primary rate 19.2% Administration cost per member £29.15 Assets per member £57,861 Investment costs, % of assets 0.75% Pensioners per 100 contributing members 91
Leicestershire Details for Leicestershire	£242m	109,987	23.1%	£21.82	£60,894	0.72%	87
Members 109,987 Employers’ primary rate 23.1% Administration cost per member £21.82 Assets per member £60,894 Investment costs, % of assets 0.72% Pensioners per 100 contributing members 87
Lewisham Details for Lewisham	£71m	27,586	22.0%	£50.28	£68,175	0.10%	134
Members 27,586 Employers’ primary rate 22.0% Administration cost per member £50.28 Assets per member £68,175 Investment costs, % of assets 0.10% Pensioners per 100 contributing members 134
Lincolnshire Details for Lincolnshire	£135m	85,574	24.1%	£19.87	£41,538	0.32%	114
Members 85,574 Employers’ primary rate 24.1% Administration cost per member £19.87 Assets per member £41,538 Investment costs, % of assets 0.32% Pensioners per 100 contributing members 114
London Pensions Fund Auth Details for London Pensions Fund Auth	£332m	100,652	15.2%	£30.58	£80,244	1.05%	161
Members 100,652 Employers’ primary rate 15.2% Administration cost per member £30.58 Assets per member £80,244 Investment costs, % of assets 1.05% Pensioners per 100 contributing members 161
Merseyside Pension Fund Details for Merseyside Pension Fund	£484m	157,801	18.7%	£25.40	£69,459	0.44%	120
Members 157,801 Employers’ primary rate 18.7% Administration cost per member £25.40 Assets per member £69,459 Investment costs, % of assets 0.44% Pensioners per 100 contributing members 120
Merton Details for Merton	£37m	16,025	23.3%	£40.19	£59,733	0.28%	98
Members 16,025 Employers’ primary rate 23.3% Administration cost per member £40.19 Assets per member £59,733 Investment costs, % of assets 0.28% Pensioners per 100 contributing members 98
Middlesbrough Details for Middlesbrough	£201m	84,154	19.7%	£30.43	£66,271	0.10%	112
Members 84,154 Employers’ primary rate 19.7% Administration cost per member £30.43 Assets per member £66,271 Investment costs, % of assets 0.10% Pensioners per 100 contributing members 112
Newham Details for Newham	£79m	33,030	18.4%	£52.10	£58,599	0.19%	80
Members 33,030 Employers’ primary rate 18.4% Administration cost per member £52.10 Assets per member £58,599 Investment costs, % of assets 0.19% Pensioners per 100 contributing members 80
Norfolk Details for Norfolk	£201m	108,317	22.4%	£20.59	£50,769	0.58%	99
Members 108,317 Employers’ primary rate 22.4% Administration cost per member £20.59 Assets per member £50,769 Investment costs, % of assets 0.58% Pensioners per 100 contributing members 99
North Yorkshire Details for North Yorkshire	£175m	102,787	20.1%	£22.32	£46,246	0.76%	108
Members 102,787 Employers’ primary rate 20.1% Administration cost per member £22.32 Assets per member £46,246 Investment costs, % of assets 0.76% Pensioners per 100 contributing members 108
Northamptonshire Details for Northamptonshire	£133m	83,172	20.5%	£36.61	£45,066	0.34%	81
Members 83,172 Employers’ primary rate 20.5% Administration cost per member £36.61 Assets per member £45,066 Investment costs, % of assets 0.34% Pensioners per 100 contributing members 81
Nottinghamshire Details for Nottinghamshire	£302m	164,881	19.0%	£21.42	£44,043	0.31%	103
Members 164,881 Employers’ primary rate 19.0% Administration cost per member £21.42 Assets per member £44,043 Investment costs, % of assets 0.31% Pensioners per 100 contributing members 103
Oxfordshire Details for Oxfordshire	£130m	75,407	18.9%	£44.03	£48,405	0.51%	91
Members 75,407 Employers’ primary rate 18.9% Administration cost per member £44.03 Assets per member £48,405 Investment costs, % of assets 0.51% Pensioners per 100 contributing members 91
Powys Details for Powys	£40m	18,900	21.4%	£83.02	£45,517	0.61%	101
Members 18,900 Employers’ primary rate 21.4% Administration cost per member £83.02 Assets per member £45,517 Investment costs, % of assets 0.61% Pensioners per 100 contributing members 101
Redbridge Details for Redbridge	£46m	20,621	19.1%	£41.80	£51,168	0.19%	83
Members 20,621 Employers’ primary rate 19.1% Administration cost per member £41.80 Assets per member £51,168 Investment costs, % of assets 0.19% Pensioners per 100 contributing members 83
Rhondda Cynon Taff Details for Rhondda Cynon Taff	£189m	79,438	19.6%	£35.24	£60,208	0.37%	98
Members 79,438 Employers’ primary rate 19.6% Administration cost per member £35.24 Assets per member £60,208 Investment costs, % of assets 0.37% Pensioners per 100 contributing members 98
Shropshire Details for Shropshire	£113m	50,098	18.4%	£38.84	£52,425	0.77%	99
Members 50,098 Employers’ primary rate 18.4% Administration cost per member £38.84 Assets per member £52,425 Investment costs, % of assets 0.77% Pensioners per 100 contributing members 99
Somerset Details for Somerset	£136m	71,987	22.0%	£24.60	£45,246	0.33%	107
Members 71,987 Employers’ primary rate 22.0% Administration cost per member £24.60 Assets per member £45,246 Investment costs, % of assets 0.33% Pensioners per 100 contributing members 107
South Yorkshire Pensions Fund Details for South Yorkshire Pensions Fund	£427m	181,178	20.3%	£31.36	£61,334	0.85%	123
Members 181,178 Employers’ primary rate 20.3% Administration cost per member £31.36 Assets per member £61,334 Investment costs, % of assets 0.85% Pensioners per 100 contributing members 123
Southwark Details for Southwark	£81m	27,584	20.4%	£118.40	£81,977	0.47%	94
Members 27,584 Employers’ primary rate 20.4% Administration cost per member £118.40 Assets per member £81,977 Investment costs, % of assets 0.47% Pensioners per 100 contributing members 94
Staffordshire Details for Staffordshire	£257m	121,007	21.5%	£29.13	£63,836	0.27%	128
Members 121,007 Employers’ primary rate 21.5% Administration cost per member £29.13 Assets per member £63,836 Investment costs, % of assets 0.27% Pensioners per 100 contributing members 128
Suffolk Details for Suffolk	£145m	74,646	22.5%	£26.93	£59,893	0.28%	89
Members 74,646 Employers’ primary rate 22.5% Administration cost per member £26.93 Assets per member £59,893 Investment costs, % of assets 0.28% Pensioners per 100 contributing members 89
Surrey Details for Surrey	£227m	130,217	18.9%	£36.72	£46,764	0.09%	89
Members 130,217 Employers’ primary rate 18.9% Administration cost per member £36.72 Assets per member £46,764 Investment costs, % of assets 0.09% Pensioners per 100 contributing members 89
Sutton Details for Sutton	£43m	19,129	18.8%	£65.29	£51,177	0.39%	81
Members 19,129 Employers’ primary rate 18.8% Administration cost per member £65.29 Assets per member £51,177 Investment costs, % of assets 0.39% Pensioners per 100 contributing members 81
Swansea Details for Swansea	£120m	51,776	21.3%	£34.15	£67,143	0.47%	76
Members 51,776 Employers’ primary rate 21.3% Administration cost per member £34.15 Assets per member £67,143 Investment costs, % of assets 0.47% Pensioners per 100 contributing members 76
Tameside Details for Tameside	£1.2bn	437,708	18.9%	£22.98	£73,781	0.35%	122
Members 437,708 Employers’ primary rate 18.9% Administration cost per member £22.98 Assets per member £73,781 Investment costs, % of assets 0.35% Pensioners per 100 contributing members 122
Torfaen Details for Torfaen	£175m	67,359	19.0%	£26.11	£66,043	0.31%	87
Members 67,359 Employers’ primary rate 19.0% Administration cost per member £26.11 Assets per member £66,043 Investment costs, % of assets 0.31% Pensioners per 100 contributing members 87
Tower Hamlets Details for Tower Hamlets	£83m	24,188	19.4%	£89.71	£90,620	0.57%	94
Members 24,188 Employers’ primary rate 19.4% Administration cost per member £89.71 Assets per member £90,620 Investment costs, % of assets 0.57% Pensioners per 100 contributing members 94
Tyne and Wear Superannuation Fund Details for Tyne and Wear Superannuation Fund	£539m	186,904	18.6%	£20.46	£72,388	0.63%	113
Members 186,904 Employers’ primary rate 18.6% Administration cost per member £20.46 Assets per member £72,388 Investment costs, % of assets 0.63% Pensioners per 100 contributing members 113
Waltham Forest Details for Waltham Forest	£63m	26,829	16.7%	£50.84	£40,683	0.86%	119
Members 26,829 Employers’ primary rate 16.7% Administration cost per member £50.84 Assets per member £40,683 Investment costs, % of assets 0.86% Pensioners per 100 contributing members 119
Wandsworth Details for Wandsworth	£103m	43,521	20.0%	£31.50	£72,490	0.39%	103
Members 43,521 Employers’ primary rate 20.0% Administration cost per member £31.50 Assets per member £72,490 Investment costs, % of assets 0.39% Pensioners per 100 contributing members 103
Warwickshire Details for Warwickshire	£115m	60,076	20.7%	£36.62	£51,188	0.66%	94
Members 60,076 Employers’ primary rate 20.7% Administration cost per member £36.62 Assets per member £51,188 Investment costs, % of assets 0.66% Pensioners per 100 contributing members 94
West Midlands Pension Fund Details for West Midlands Pension Fund	£905m	363,502	21.7%	£41.54	£58,846	0.48%	94
Members 363,502 Employers’ primary rate 21.7% Administration cost per member £41.54 Assets per member £58,846 Investment costs, % of assets 0.48% Pensioners per 100 contributing members 94
West Sussex Details for West Sussex	£163m	91,453	18.4%	£14.84	£64,163	0.50%	92
Members 91,453 Employers’ primary rate 18.4% Administration cost per member £14.84 Assets per member £64,163 Investment costs, % of assets 0.50% Pensioners per 100 contributing members 92
West Yorkshire Superannuation Fund Details for West Yorkshire Superannuation Fund	£783m	327,632	16.4%	£18.93	£60,951	0.04%	109
Members 327,632 Employers’ primary rate 16.4% Administration cost per member £18.93 Assets per member £60,951 Investment costs, % of assets 0.04% Pensioners per 100 contributing members 109
Westminster Details for Westminster	£73m	19,401	16.8%	£45.82	£108,018	0.69%	133
Members 19,401 Employers’ primary rate 16.8% Administration cost per member £45.82 Assets per member £108,018 Investment costs, % of assets 0.69% Pensioners per 100 contributing members 133
Wiltshire Details for Wiltshire	£131m	89,077	23.7%	£27.82	£38,837	1.12%	90
Members 89,077 Employers’ primary rate 23.7% Administration cost per member £27.82 Assets per member £38,837 Investment costs, % of assets 1.12% Pensioners per 100 contributing members 90
Windsor & Maidenhead Details for Windsor & Maidenhead	£155m	82,780	16.9%	£29.54	£37,658	1.00%	79
Members 82,780 Employers’ primary rate 16.9% Administration cost per member £29.54 Assets per member £37,658 Investment costs, % of assets 1.00% Pensioners per 100 contributing members 79
Worcestershire Details for Worcestershire	£158m	71,069	18.8%	£38.92	£55,723	0.45%	97
Members 71,069 Employers’ primary rate 18.8% Administration cost per member £38.92 Assets per member £55,723 Investment costs, % of assets 0.45% Pensioners per 100 contributing members 97

What each measure counts

Employers’ primary contribution rate

The rate the fund’s actuary set for employers to cover pensions being earned now, as a share of members’ pay, averaged across the fund’s employers (SF3). Deficit payments (“secondary contributions”) come on top. Set at each three-yearly valuation, so it moves in steps.
Administration cost per member

The fund’s administration expenses divided by all its members (contributing, deferred and pensioners). Investment management and governance costs are left out. Funds record costs in slightly different ways.
Assets per member

The market value of the fund at 31 March divided by all its members. Not a funding level: that needs the value of what is owed, which SF3 does not collect.
Investment management costs, % of assets

Investment management expenses divided by the fund’s market value at the end of the year. Depends on the mix of assets (private equity and property cost more to manage than index funds) as well as on value for money.
Pensioners for every 100 contributing members

Pensioners (including dependants) divided by contributing members, times 100: how mature the fund is.

Figures for 2024-25. Group rows are worked out over the funds’ combined totals. Funding levels need each fund’s valuation and are not collected in SF3.

Source: Ministry of Housing, Communities and Local Government, Local government pension scheme funds: consolidated data by fund, 2022-23, 2023-24, 2024-25, published 22 October 2025.

How the Treasury’s budget counts it

HM Treasury’s budgets do not use the cash figures above. They count the cost of pensions as they are earned, which is why its line can be a large cost one year and a saving a few years later while the cash paid out barely changes.

HM Treasury’s budgeting measure: “net public service pensions”, £ billion

PESA table 1.1, outturn, each year from the newest edition that has it. An accounting measure, not cash: the pensions earned in the year plus interest on the liability, less contributions. It swings with the discount rate used to value pensions: PESA 2021 puts the rise from 2017-18 down to a lower rate.

The numbers behind this chart

HM Treasury’s budgeting measure: “net public service pensions”, £ billion (£ billion, cash)
Year	Net public service pensions (resource AME)
2011-12	£6.0bn
2012-13	£5.0bn
2013-14	£5.4bn
2014-15	£9.6bn
2015-16	£12.2bn
2016-17	£9.5bn
2017-18	£26.9bn
2018-19	£54.3bn
2019-20	£31.4bn
2020-21	£42.1bn
2021-22	£57.4bn
2022-23	£51.7bn
2023-24	£-6.9bn
2024-25	£-18.5bn
2025-26	£-16.9bn

Figure as of 16 July 2026. Source: HM Treasury.

What is not published

Figures asked for that are not here, and why

Each police force’s and fire authority’s pension fund account

Kept in each force’s and authority’s own statement of accounts; the Home Office and MHCLG do not publish a table of the top-up grants by force or authority. The OBR gives the England and Wales police total and the England fire total.
Welsh firefighters’ pensions

Paid for by the Welsh Government and not named in the OBR’s table (they are in its “other” line).
Members and pensioners of the Scottish and Northern Irish schemes

In the Scottish Public Pensions Agency’s and Northern Ireland’s scheme accounts (PDF), not read here; their money is in the OBR’s table and their liabilities in the Whole of Government Accounts.
Staff who run the unfunded schemes

The schemes are run by NHS Pensions (NHS Business Services Authority), Capita (teachers, civil service), Veterans UK and others; their staff are not reported per scheme. For the LGPS, each fund reports its administration staff.
The Local Government Pension Scheme in Scotland (11 funds) and Northern Ireland (NILGOSC)

Published in each fund’s annual report, with no collected statistics like England and Wales’s SF3; the Whole of Government Accounts include their share of the net liability.
A funding level for each LGPS fund

Needs the value of what each fund owes, which comes from its three-yearly valuation, not from SF3.

The state pension, which is not a public service pension, is on the welfare spending forecast.

What these figures do and don't show

Cash, not promises. The main figures are what was paid out and paid in during the year. Pensions being earned now show up in the liability and in HM Treasury’s budgeting measure, both shown separately.
Employer contributions are mostly public money, paid from the budgets of hospitals, schools, departments and forces.
The liability is a valuation. It swings with the discount rate and is not part of a year’s spending or of public sector net debt.
Named schemes only. Smaller schemes are in the OBR’s “other” line, net only, and left out; the Scottish police and firefighters’ schemes are counted from 2024-25.
Cash and real terms. Tables are cash; the long-run chart also shows real terms (HM Treasury GDP deflator). Before 2015-16 the OBR rounds to £0.1 billion.
Not split by nation. The biggest schemes cover England and Wales or the UK.
The funded Local Government Pension Scheme is separate, covers England and Wales only, and is never added to the unfunded schemes.

Figures from data/services/pensions.json, generated 29 September 2026.

Common questions

Are public sector pensions funded?: Most are not. The NHS, teachers’, civil service, armed forces, police and firefighters’ schemes are unfunded: pensions are paid from the contributions coming in, and the Exchequer meets any gap. The Local Government Pension Scheme, for council and many other staff, is funded: contributions are invested and pensions are paid from the funds.
Who pays public sector employer pension contributions?: The employer: an NHS trust, a school or academy trust, a government department, a police force or a fire authority. Almost all of them are funded by the taxpayer, so employer contributions are largely public money moved from one budget to another.
Why does the public sector pension liability change so much from year to year?: Because it is the value today of pensions to be paid over many decades, worked out with a discount rate linked to interest rates. When the rate rises, the liability falls, and the other way round, even when the pensions promised have not changed.

Use this data

The figures belong to the bodies that published them and are used under their terms, listed in Sources for this page; most are Crown copyright under the Open Government Licence. Only our own words, analysis, charts and derived calculations are ours, published under CC BY 4.0: reuse them, including commercially, if you credit Tekstak Ltd and link back to this page.

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Sources for this page

Source	Publisher	Figures as of	Updated	Licence
Economic and fiscal outlook, March 2026: detailed forecast tables, expenditure (breakdown of public service pension schemes expenditure and receipts), with 19 earlier editions for past years	Office for Budget Responsibility	3 March 2026	annual	Open Government Licence v3.0
Whole of Government Accounts, 2009-10 to 2024-25: public sector pensions note	HM Treasury	18 June 2026	annual	Open Government Licence v3.0
Fiscal risks and sustainability, July 2026	Office for Budget Responsibility	7 July 2026	annual	Open Government Licence v3.0
Local government pension scheme funds for England and Wales, 2024-25 (SF3): tables 1, 2 and 4, with earlier editions back to 2016-17	Ministry of Housing, Communities and Local Government	22 October 2025	annual	Open Government Licence v3.0
PESA 2026: table 1.1, total managed expenditure ("Net public service pensions"), with PESA 2021 and PESA 2016 for earlier years	HM Treasury	16 July 2026	annual	Open Government Licence v3.0

Each source's figures are used under the licence shown. Our own words, analysis, charts and derived calculations are ours, under CC BY 4.0.

Over the longest run published: cash, real terms and per head

Money out and money in

Scheme by scheme

What is owed

Where it is heading

Where the money goes, level by level

United Kingdom

Members, pensioners and contribution rates

The Local Government Pension Scheme: funded

Fund by fund

How the Treasury’s budget counts it

What is not published

What these figures do and don't show

Common questions

Use this data

Download

Sources for this page

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