Inbetween
with regards public spend I know from some work I did that a decent chunk goes to the provision of state pensions. State related pensions are (as far as I know) ‘unbudgeted’ so the assumption always was and remains that, until this changes there will be enough £ coming into state coffers. The proposition was sounder when there were a lot more worker bees forecast to be born and work their lifetime and people didn’t live for quite so long.
im not sure whether the figures below include the Civil Servant pension scheme which is potentially another enormous commitment that is us budgeted and continues to grow as people are enrolled into any remaining gvmt type Final Salary Schemes.
Government expenditure on state pension in the UK 2000-2021
Published by
D. Clark, Apr 1, 2022
The government of the United Kingdom is expected to spend approximately 101.2 billion British pounds on the state pension in 2020/21, compared with 98.8 billion in the previous financial year. Since 2000/01, UK government spending on state pensions has increased by 62.5 billion pounds.