first_img Strike alert at public sector pension cuts Show Comments ▼ More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks whatsapp MEASURES to rein in the spiralling costs of public sector pensions were proposed by Lord Hutton yesterday, prompting strong threats from trade union leaders.A cap should be imposed limiting cost to the taxpayer, the independent pensions commission suggested.As a result, workers “might need to increase their contributions, or take a smaller pension,” Lord Hutton said.The proposals signal an end to final salary pensions, which would be replaced by pensions based on average earnings over the course of the job.The normal retirement age could also increase in line with the state pension age.The review was attacked as “the spark that lights the blue touch paper of co-ordinated strike action,” by RMT boss Bob Crow. “There is no question that this is the issue where co-ordinated strike action is on the cards,” Crow said.Public sector pension payments are on an upward trajectory, according to the Office for Budget Responsibility (OBR). Pension costs carried by the Treasury will soar from £4.3bn in this tax year to £7bn in 2015-16, according to the OBR’s latest forecast.Lord Hutton’s report proposes changes to the pension scheme of all the UK’s six million government sector workers. “Public sector employers should determine their own terms of employment,” criticised Philip Booth of the Institute of Economic Affairs. “Reforms must run with the grain of decentralisation and localisation.” Sharecenter_img Thursday 10 March 2011 8:03 pm Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoBetterBe20 Stunning Female AthletesBetterBeUndoHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndo KCS-content whatsapp Tags: NULLlast_img read more