TPA: Gold-plated pensions need reform

Emma Boon, campaign manager at the TaxPayers’ Alliance, comments on John Hutton’s report on public sector pensions:

“Taxpayers face a bill for more than a trillion pounds needed to pay unfunded public sector pensions.

“We welcome this morning’s recommendation from Lord Hutton, the government should increase employee contributions and raise the pension age to make much needed immediate savings.

“Final salary pension schemes are all but extinct in the private sector, but necessary changes in gold-plated public sector pensions haven’t been made.

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“It is not right for taxpayers to be subsidising million pound retirement benefits for the public sector elite while seeing the value of their own pensions plummet, public sector staff are well paid and we can’t afford to pay for such generous benefits as well.”