Not all public sector pensions are alike

摘要

I welcome Lord Hutton's initial approach to public sector pension reform, in particular, acknowledging that the average local government pension is less than .￡5,000 year, and far from 'gold-plated'.But, in recommending reforms, please don't lump all public sector pensions together. There is a huge difference in terms of affordability between local government pensions, such as ours, which are funded schemes, and those of civil servants, teachers, health, police and other public sector workers whose schemes are not funded, and depend largely on general taxation.