Highest annual pension payments (FOI)

Request

What are the five highest pensions paid, per annum, in respect of the Public Employees Contributory Retirement Scheme (PECRS) and the Jersey Teachers Superannuation Fund (JTSF). Information should be provided on an anonymised basis.

For clarity the information required is for persons currently drawing their pension in each scheme / fund. 

Response

The Government of Jersey administers two Public Service Pension Funds – the Public Employees Pension Fund (PEPF) and Jersey Teachers Superannuation Fund (JTSF).

The Public Employees Pension Fund (PEPF) comprises of a Career Average Scheme known as the Public Employees Pension Scheme (PEPS) and a Final Salary Scheme known as the Public Employees Contributory Retirement Scheme (PECRS).

The Final Salary Scheme (PECRS) was closed to new entrants at the end of 2015 and over 5,000 public servants are now accruing pensions based on career average earnings within the Career Average Scheme (PEPS).

Only four pensions are currently being paid from the Career Average Scheme (PEPS). They are:

£9,638 per annum
£3,013 per annum
£3,298 per annum
£1,841 per annum

Pensions from the Final Salary Pension Scheme (PECRS) are based on length of service and final salary. Over 70% of pensioners in the Final Salary Scheme (PECRS) receive a pension below £15,000 per annum. The median pension is £8,951 per annum. Less than 850 public servants closest to retirement continue to accrue service in the Final Salary Scheme (PECRS).

PECRS Pension Distribution

The five largest pensions in the Final Salary Scheme (PECRS) are as follows:

£132,958 per annum
£128,837 per annum
£127,569 per annum
£126,078 per annum
£109,127 per annum

The Jersey Teachers Superannuation Fund (JTSF) is a final salary pension scheme. Over 60% of pensioners in JTSF receive a pension below £20,000 per annum. The median pension is £18,738 per annum.

JTSF Pension Distribution

The 5 largest pensions in the JTSF Final Salary Scheme are as follows:

£77,033 per annum
£64,975 per annum
£63,517 per annum
£55,567 per annum
£52,223 per annum