Daily Insurance Industry News
 
 
Daily Insurance Industry News
Wednesday 17th of January 2018
July 7, 2010

Call for swift action on public sector pensions

by Richard Kilner

Story link: Call for swift action on public sector pensions

Mark Littlewood, DG of the Institute of Economic Affairs, has responded to the recently published Public Sector Pensions Commission report.

Littlewood has said that the report underlines the urgent need for the Coalition Government to take action on public sector pensions.

He also berated the appalling lack of transparency in the area, stating that it had exacerbated the crisis and that successive governments had dodged the issue for too long.

Littlewood said that the Commission created to look into the matter may simply delay action, and called on John Hutton to move swiftly and embrace the report’s conclusions.

He also expressed his own preference for a rise in employee contributions, as well as a decentralised rather than national approach.

It emerged today that the value of public sector pensions was twice as much as had been thought, with employer and employee contribution rates at 40% rather than 20%, a difference largely attributed to the extreme lack of transparency in the area.

 

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