Select committee: Public Accounts Committee
Recommendation 23
69th Report - Whole of Government Accounts 2023-24
Published 4 Mar 2026
Addressed to HM Treasury
Public Accounts Committee Whole of Government Accounts 2023-24 All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Recommendation (the committee's words)
We pressed the Treasury on whether the Government should be exploring alternative ways of paying for or funding public service pension liabilities. The Treasury responded that public service pensions remain unfunded, pay-as-you-go schemes as this is consistent with Government’s overall approach to managing the balance sheet.43 And that therefore this was not something the Government were actively looking at changing. It also pointed out that the pension liability is paid for from tax revenue, but [future] tax is not recognised as an asset.44 Non-coterminous reporting dates
From: Public Accounts Committee, 69th Report - Whole of Government Accounts 2023-24 (HC 1243), 4 March 2026
Government response
The government responded to the whole report on 1 June 2026 (deadline 4 May 2026).