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01 Feb 2012
THE GOVERNMENT'S pension scheme accounts, currently with £136bn of liabilities, have been qualified by the National Audit Office (NAO).
The Civil Superannuation accounts, which represent the principal civil service pension scheme and other smaller public sector schemes, were qualified over two issues.
Firstly, the Cabinet Office was unable to provide the NAO with sufficient records to confirm that all pensioners or beneficiaries had received payments.
Secondly, due to concerns over the records, the NAO sought assurances that the estimated pension liability of £136bn was reasonable.
"Most pensions awarded under the PCSPS are linked to a member's length of qualifying service and salary. In a quarter of the cases (by value) tested by the NAO, insufficient evidence was provided to confirm that the correct payment had been made," the NAO stated.
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