Lord Hutton calls for changes to public sector pensions

| October 7, 2010 | 0 Comments
Lord Hutton calls for changes to public sector pensions

An independent commission led by Lord Hutton (the former Labour Work and Pensions Secretary) has called for a change to final salary pensions for the public sector.

The 174-page report comes after Chancellor George Osborne asked Lord Hutton to carry out an investigation into where savings can be achieved.

Mr Osborne has previously said the projected increase in the cost to taxpayers of public sector pensions was “unsustainable”.

Lord Hutton has suggested public sector members, which include teachers, police, fire-fighters and NHS workers, pay higher contributions and raise the retirement age to 66 by 2026.

However, the suggestions have met with outrage from Union leaders.

Lord Hutton defended the report and said he did not want to see “good, decent people” facing poverty in retirement but insisted that the problem could not be “buried” any longer.

The final report, which is set to consider a range of alternatives, will be published in time for the 2011 Budget.

Tags: ,

Comments (0)

Trackback URL | Comments RSS Feed

There are no comments yet. Why not be the first to speak your mind.

Leave a Reply

Visited 5457 times, 2 so far today