The unfunded pension deficit is huge and there is an obvious inequality of provision between public and private sectors. Hutton recommends all the sensible moves: raising the retirement age, abolishing final salary schemes, increasing employee contributions. This isn’t easy. Increased contributions is a salary cut, in effect. And we need to be sure that the overall package in the public sector means that it can still attract talent. It is also vital to be sensitive to the fact that people have worked very hard for relatively low rates of pay. But all that said, it is hard to see a better route out than the one suggested.
Hutton has got a lot going for him but I was expecting an article, not just a lengthy headline….Even if Hutton is always right, is that equally true of Phil Collins….? Where’s the beef?
But it took Hutton working for the Tories to put this forward, thats the problem is it not. 13 years of Labour nothing except the pension crises, lots of hot air. But now I suspect the Tories will rip up pensions except for themselves mind you hate to hurt the people who fight for this country, but if your working in the local benefits office or job center look out boy your going to get it. Yes the Tories take Hutton and what does Labour say, ah yes it a cross party agreement, then why did you lot not cross the floor 13 years ago, shit you did. Hutton is not labour he’s now a Lord, he is working for the Tories, best place for him really, no I’m not against him I just do not see labour being able to do much anymore It will be the poorest who get the hit again.