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Prospect Pension

@prospectpension.bsky.social
449 followers 75 following 639 posts

Pension officer for Prospect (including Bectu) union.

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Reposted by Prospect Pension
Prospect Union @prospectunion.bsky.social · 18/09/2026
UPDATE: Prospect members at the V&A in South Kensington are striking over pay and working conditions on 25 and 26 September. V&A Director Tristram Hunt has continued to refuse to take part in any arbitration talks, and V&A has failed to come back with any revised offer.
prospect.org.uk
V&A staff set to strike on 25 and 26 September
Prospect members at the V&A in South Kensington are to take strike action on the 25 and 26 of September in a...
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Prospect Pension @prospectpension.bsky.social · 17/09/2026
Prospect's @stevetprospect.bsky.social on why automatic enrolment in pensions is the wrong solution for the self-employed (though increasingly likely to be what comes out of the Pension Commission's work): www.pensions-expert.com/defined-cont...
pensions-expert.com
Prospect: Self-employed workers need more help to save for retirement
Steve Thomas, deputy general secretary of the trade union Prospect, says it is not enough just to encourage more saving among self-employed people - they need a sustainable, affordable way to do so.
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Reposted by Prospect Pension
Prospect Union @prospectunion.bsky.social · 15/09/2026
The civil service pension crisis isn’t over. More than 20,000 people have now signed our petition calling for pension administration to be brought back in-house. We’re keeping up the pressure on the Government to act. Sign our petition to help end the pension chaos.
megaphone.org.uk
Stop the Civil Service Pension Crisis: Bring Pension Administration Back In-House
Civil servants deserve a pension service they can trust. Sign this petition to demand action now.
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Prospect Pension @prospectpension.bsky.social · 27/08/2026
19,000 on Thursday... This is obviously not an issue that's going away anytime soon.
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Prospect Pension @prospectpension.bsky.social · 26/08/2026
14,000 signatures on Monday - 18,000 on Wednesday! www.pensions-expert.com/defined-bene...
pensions-expert.com
Unions take Civil Service pension insourcing campaign to Downing Street
The Prospect and Public and Commercial Services unions are petitioning the government to name a responsible minister and bring the administration of the Civil Service Pension Scheme in-house.
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Prospect Pension @prospectpension.bsky.social · 25/08/2026
How hypocritical can you get? Reform MPs want to close public service pension schemes for millions of ordinary workers but are happy to benefit from membership of the scheme for MPs. inews.co.uk/inews-lifest...
inews.co.uk
Farage among Reform MPs collecting gold-plated pensions - despite calling for cut
Tice and Jenrick also saving into defined benefit public sector pension as unions accuse the party of 'hypocrisy'
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Reposted by Prospect Pension
Prospect Union @prospectunion.bsky.social · 24/08/2026
It’s time for Government to act. Today, Prospect and PCS took our petition, signed by more than 14,000 people, to 10 Downing Street. Since Capita took over the administration of the Civil Service Pension Scheme, it has been in complete chaos. We are calling the scheme to be brought back in-house.
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Prospect Pension @prospectpension.bsky.social · 24/08/2026
Prospect Deputy General Secretary @stevetprospect.bsky.social waiting patiently outside 10 Downing Street gates to deliver 15,000+ petition about civil service pension crisis.
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Prospect Pension @prospectpension.bsky.social · 17/08/2026
Why think deeply about proper reforms that would improve the overall system when you can discuss meaningless gimmicks?
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Reposted by Prospect Pension
Prospect Union @prospectunion.bsky.social · 14/08/2026
It is a scandal of epic proportions. Prospect General Secretary on Capita’s disastrous handling of the civil service pension scheme and the impact this has had on thousands of our members.
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Prospect Pension @prospectpension.bsky.social · 12/08/2026
Were these people a lot better at hiding their naked self-interest in the past?
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Prospect Pension @prospectpension.bsky.social · 10/08/2026
Pension industry urged to rule out ridiculous, often self-serving pension tax Budget speculation.
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Prospect Pension @prospectpension.bsky.social · 08/08/2026
I'd be tempted to ask every single basic-rate, self-employed taxpayer contributing to a pension scheme what on earth they're doing that for. (Certainly any under 40.)
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Prospect Pension @prospectpension.bsky.social · 08/08/2026
That stat is particularly driven by basic-rate taxpayers (self-employed participation in pensions ticks up a lot above the higher-rate threshold). I can think of very few reasons for a basic-rate taxpayer to contribute to a pension. A low level is the right level.
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Prospect Pension @prospectpension.bsky.social · 01/08/2026
I think there are more dates left on her tour. If every pensioner had her vitality, every pension scheme would be worrying about being underfunded.
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Prospect Pension @prospectpension.bsky.social · 01/08/2026
Could also recommend an evening with Grace Jones.
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Prospect Pension @prospectpension.bsky.social · 01/08/2026
He worked very well with Jack Dromey on this and other pension issues. Back when politics was about doing things for voters and not seeing who could make them feel the most outraged possible.
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Prospect Pension @prospectpension.bsky.social · 30/07/2026
IT'S STILL JULY!!!!!
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Prospect Pension @prospectpension.bsky.social · 28/07/2026
Does it matter what the pension industry thinks about CDC schemes? Surely it's what workers and their employers think about them that really counts? www.pensions-expert.com/defined-cont...
pensions-expert.com
CDC: Pensions industry showing cautious interest in new model, polls show
As legislation facilitating collective defined contribution pension schemes edges closer, professionals are eager to discover what the new model could bring. However, the consensus is not universal, a...
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Prospect Pension @prospectpension.bsky.social · 26/07/2026
I'm not sure why it wouldn't have been easier to (further) fix the NHS pension schemes rules (things like not being able to offset negative PIA in the final salary scheme against positive PIA in the CARE scheme were crazy)and abolish the tapered AA.
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Prospect Pension @prospectpension.bsky.social · 26/07/2026
Wasn't the much bigger concern that senior medics were retiring early and reducing their hours in response to an insanely complicated tax charge (that was only introduced to allow very rich people to pass more wealth on tax-free)? There are a million better ways to tax higher earners.
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Prospect Pension @prospectpension.bsky.social · 24/07/2026
It depends on your measure: the DWP estimate of 48% is based on pension wealth, and the 36% is based on pension income. The estimate of the gap in pension wealth suffers from significant uncertainty (it's higher than the previous estimate when everything points to inequality falling).
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Reposted by Prospect Pension
Steve Thomas @stevetprospect.bsky.social · 22/07/2026
A short update on another unacceptable discovery in the Capita/Civil Service Pensions Scheme administration scandal
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Prospect Pension @prospectpension.bsky.social · 21/07/2026
How is it possible to mess up on this scale? As you read this, bear in mind that it's by no means an isolated case. There were thousands of dependents waiting for delayed pensions when Capita took over. But no excuse for not having paid it over 7 months later. www.bbc.co.uk/news/article...
bbc.co.uk
Kent widow losing sleep over Capita civil service pension limbo
She says she has gone into debt after receiving no payouts from the scheme since her husband died.
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Reposted by Prospect Pension
Henry Tapper @henrytapper.bsky.social · 21/07/2026
Unions - what's happening with pensions? Neil Walsh explains CDC's impact on @prospectpension.bsky.social t - 10.30 this morning henrytapper.com/2026/07/21/u... A conversation about the union's influence on workplace pensions in the future
henrytapper.com
Unions – what’s happening with pensions? Neil Walsh explains CDC’s impact on Prospect – 10.30 this morning
This from the Government on “The future of CDC” The initial impetus for CDC has come from a large employer and a major trade union seeking an alternative pension model. But establishing…
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Prospect Pension @prospectpension.bsky.social · 19/07/2026
There has been no announcement by the current government of a further increase to State Pension Age beyond that already legislated for. There is a review currently underway (I'm sure the Secretary of State has the report already), but nothing so far to indicate any changes.
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Prospect Pension @prospectpension.bsky.social · 17/07/2026
Something that costs £56bn increases by £1bn in a year? Wow! Wondering how Neil Record gets his £5.8 trillion estimate? I believe it's because it's undiscounted. Not clear if he doesn't believe in discounting future cashflows, or just isn't able to. www.telegraph.co.uk/money/pensio...
telegraph.co.uk
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Prospect Pension @prospectpension.bsky.social · 15/07/2026
Just unbelievable that this misunderstanding of the OBR's report was turned into a news story by the Times. Did they not run it by anyone beforehand?
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Prospect Pension @prospectpension.bsky.social · 11/07/2026
I should clarify that I have no idea whether it actually was the lowest bid. But the two aims of contracting out civil service pension scheme admin were lower cost and a better service to members.
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Prospect Pension @prospectpension.bsky.social · 11/07/2026
There were two credible bids in the end (if you consider the bidder just sacked by the Teachers scheme to be credible - well, they won). The Minister has basically said he would take it in house if he could. This isn't a reflection of just Capita, contracting out itself has failed badly.
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Prospect Pension @prospectpension.bsky.social · 11/07/2026
It should be the end of government trying to do administration of these complex schemes on the cheap by contracting them out to the provider who bid the lowest because they underestimated the challenges involved the most. Compare and contrast with the PPF, who brought administration in-house.
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Prospect Pension @prospectpension.bsky.social · 10/07/2026
A typical example of retired civil servants' experience of Capita: ‘I’m still waiting for my £45k pension after retiring a year ago’ share.google/zpStkVo92BwU...
share.google
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Prospect Pension @prospectpension.bsky.social · 10/07/2026
I'm not sure anyone has accounted for the share of the compensation that will have to be paid to the tens of thousands of scheme members and dependents who have been seriously impacted by this disaster yet. Or for the fine that one hopes TPR is considering imposing.
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Prospect Pension @prospectpension.bsky.social · 10/07/2026
The trading update says the civil service pension fiasco will affect adjusted operating profit in 2026 by £25 - £40 million in 2026. www.capita.com/investors/re... £10 million was withheld by the Cabinet Office in relation to missed transition milestones last year.
capita.com
Challenge Validation
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Prospect Pension @prospectpension.bsky.social · 09/07/2026
Ended down over 20% on the day.
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Prospect Pension @prospectpension.bsky.social · 09/07/2026
Another 10%+ fall (so far) today - never underestimate the challenge of pension scheme administration.
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Prospect Pension @prospectpension.bsky.social · 08/07/2026
AH - we will not just run out the clock on this contract.
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Prospect Pension @prospectpension.bsky.social · 08/07/2026
A question about when the service will be recovered - Cabinet Office officials explained this in previous session!
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Prospect Pension @prospectpension.bsky.social · 08/07/2026
Re bereavements - Chair says Capita not going fast enough. CC says closed 1,000 in last week with new technology. Chair asks when bereavement backlog will be cleared. CC - says (in relation to cases they have data for) "within two months". (But we knew that was the plan from this morning.)
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Prospect Pension @prospectpension.bsky.social · 08/07/2026
Committee very unhappy with this answer / position.
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Prospect Pension @prospectpension.bsky.social · 08/07/2026
Clash over who pays for surge team. AH offered to pay from 1 April. PMG says they should pay from 2 February. Chair of PAC asks for commitment on this point at the hearing. AH says it needs to be an overall commercial discussion. Says he heard PMG and Chair "loud and clear".
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Prospect Pension @prospectpension.bsky.social · 08/07/2026
AH - says service has gone from distress, to having a capacity problem, to having a backlog. Refers to progress in last couple of weeks.
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Prospect Pension @prospectpension.bsky.social · 08/07/2026
Member says she doesn't see progress and feels Capita are going backwards. I'm not sure that's totally fair / true. Angela McDonald mentioned progress being made in earlier session. (Though overall it's unacceptable.)
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Prospect Pension @prospectpension.bsky.social · 08/07/2026
This isn't a very fruitful session so far - repeating questions from before, not really getting into the detail about why recovery wasn't achieved.
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Prospect Pension @prospectpension.bsky.social · 08/07/2026
RH says he has considered his position but that wouldn't help deliver recovery of service to members.
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Prospect Pension @prospectpension.bsky.social · 08/07/2026
Chair of PACAC - when did you admit to Cabinet Office that you were not as confident about technology. CC - we have always been transparent. End to end back office processing issues is what is causing worst of the problems. Have increased ability to process cases and increased resources.
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Prospect Pension @prospectpension.bsky.social · 08/07/2026
CC - we took over payroll and haven't missed a payment. There are cases that are waiting a long time - many members saying they were waiting for Capita to fix old problems. Expected 7,000 calls a day - got 25,000+. Have a second call centre now. Admits to technology problems.
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Prospect Pension @prospectpension.bsky.social · 08/07/2026
This explanation is the same as those given to previous evidence sessions - not sure it's adding much to our knowledge of the issue.
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Prospect Pension @prospectpension.bsky.social · 08/07/2026
AH - this is a very complex scheme, more complex than the expected, like nothing they've seen before (not even TPS?), not just size, lots of employers. Surely they realised this? AH - I inherited this contract but will do everything to get it right. Backlog higher than expected and cases complex.
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Prospect Pension @prospectpension.bsky.social · 08/07/2026
Chair of PACAC summarises failures on this contract - both basic and proposed new AI functionality. Says Capita gave cast iron assurances that end of June deadline would be met. (I'm not sure they did / could?) Asks : what went wrong? Are they coasting to the point that contract is taken away?
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