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Under other proposed changes, the pensions of parliamentary employees, who number about 2,900, would be based on years of contributions, rather than salary at the time of retirement, as has been the case for many years.
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The new law, which changes the pension system, is not exactly radical.
Further, the agreement changes the pension program for some federal workers, which angered some Democrats from states with many federal workers and led them to oppose the measure.
On top of those moves is the government's unilateral decision to change the pensions' uprating index from RPI to CPI.
Analysts Alan Devlin and Chris Roberts said: We hosted Andy Briggs, chief executive of Resolution, in our London offices last night and found him to be relatively upbeat about Resolution's ability to deal with the biggest change the pensions industry has ever faced.
George Osborne has described changes to the pensions system as a change for "everyone", not just Conservative supporters.
The unemployment benefits will be paid for in part by the sale of some radio spectrum licenses and changes to the pensions of federal workers.
From April 2015 changes to the pensions system mean that it will be possible for people to take all of their pension early.
The union said about 50,000 of its members who work in London will be affected by the proposed changes to the pensions scheme.
This will not change the pension people get today.
An earlier effort to change the pension system provoked huge street protests during the mid-1990's and contributed to the Socialist landslide in 1997.
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