Death knell for 'unfair' public sector pensions as state workers are told to work longer, pay more

Millions of public sector staff face working until they are in their 70s to fund gold-plated pension schemes branded 'inherently unfair' by a hard-hitting report, it was claimed last night. Labour former minister Lord Hutton said state workers – who can currently retire as young as 55 – will be forced to pay more and receive less on retirement. He gave ministers the green light to demand extra pension contributions from staff from as early as April. And his interim report also pronounced the end of final salary schemes – sparking threats of strikes from the unions. Public sector pensioners could suffer some of the pain that their counterparts in the private sector are already facing. Critics say there is pensions apartheid between the public and private sectors. Lord Hutton was asked to investigate the public sector pensions crisis by the Coalition. Taxpayers are currently liable for between £770billion and £1trillion in payouts and the gap between annual employee contributions and the promised rewards is running at £10billion a year.

Source: www.dailymail.co.uk...

If conditions continue at this rate in the politically correct world of the U.K., people might as well be working for the private sector...