The £1.4m pot you need to match a top civil service pension

Oct. 13, 2024 - The Times

Being the cabinet secretary of the United Kingdom is a big job. As the official adviser to the prime minister, they are responsible for ensuring that the government runs properly and for overseeing about half a million civil servants.

Applications are open until October 20 for Simon Case’s replacement — and while the £200,000 salary pales in comparison with the average £4.2 million pay packet of a FTSE 100 chief executive, there is one very important perk: the pension.

The Civil Service Pension Scheme pays a guaranteed inflation-linked retirement income based on career earnings. Workers contribute between 4.

6 per cent and 8.05 per cent of their salary, and their employer — the government — pays in an unbelievably generous 29 per cent.

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