Public sector pensions are unsustainable – they are costing too much and there is an unfair divide between the private and public sectors now the latter’s pay is at, or above, private sector levels. You must protect existing accrual but a scheme has to reflect the reality of an ageing population.
PHILIP BOOTH | INSTITUTE OF ECONOMIC AFFAIRS
The government should start costing public sector pensions on a properly transparent basis. If it did so we would find the contribution rates required shocking. It should localise the decision making so that individual schools and hospitals should be able to negotiate working conditions with staff.
PHILIP HAMMOND | SHADOW TREASURY SECRETARY
An incoming Conservative Government will ensure that public sector employers properly recognise the costs of the pension promises they are making. It is already widely accepted that reform is needed and we will work to achieve consensus to move forward.”