nick venedi

Thursday, 10 March 2011

Hutton report on pensions

As expected the Hutton report which looked at pension schemes covering civil servants, the NHS, teachers, local government staff, the police, armed forces and the fire service recommends that public sector workers lose their final salary pension schemes and they move to average salary schemes by 2015, they work longer before they retire, get less and contribute more.

This is at the same time as the government has imposed a pay freeze and has instructed public sector bodies to cut budgets and jobs drastically. Worth remembering that, in the meantime, bankers bonuses have not been reduced. There is something wrong in the state of Denmark I think. Time to fight back! Welcome the press release from Dave Prentis warning the government for strike action. The scheme was already negotiated in 2005 with public sector employees making significant concessions, they can't keep coming back for more!

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