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Thursday, October 07, 2010

Work Longer, Contribute More

Lord Hutton has published an initial recommendation from his ongoing review of final salary public sector pension schemes.

Simply put, public sector employees should work longer and contribute more to their pension schemes (thus taking the burden from the private sector). Lord Hutton wants the final schemes to be changed to a career average basis.

The unions are already "reacting" in a totally expected manner to this recommendation; ie they don't like it.

Lord Hutton's final report will be published before the 2011 Budget.

1 comment:

  1. Anonymous1:03 PM

    Why should people in the private sector work on until 67 to pay for the retirement of those in the public sector at 60 ?