asked the Minister for the Public Service what the provision in the budget estimates for 1982 in respect of the public service pension scheme would be if the scheme were funded on an actuarial basis.
Written Answers. - Public Service Pension Scheme.
551.
As public service pension schemes are currently financed on a pay-as-you-go basis rather than from a fund the actuarial information that would be needed in order to provide the answer to the Deputy's question is not available. I can, however, say that the information available to me in respect of the pension terms of established civil servants indicates that the actuarial cost of those terms is about 18 per cent of payroll. On this basis, the cost of funding the year of service in question would be about £87,000,000. Since the pay bill for established civil servants represents some 27 per cent of the public service pay bill, the cost of public service pensions on a corresponding basis would be considerably in excess of £87,000,000 but it is not possible to give an accurate estimate of that cost because of differences between the pension terms, age structures, etc. of the various groups involved.