PCS: Pensions report confirms schemes are affordable and sustainable
An authoritative report published today (8 December), that confirms recent changes to public sector pensions have made schemes affordable and sustainable, has been welcomed by the Public and Commercial Services union.
Analysis by the National Audit Office says changes in 2007/08 to pensions, including those of civil servants, are on course to deliver savings to the taxpayer and stabilise costs as a proportion of national wealth.
The findings follow Lord Hutton’s interim report into public sector pensions published in October, which said that the overall cost of ‘unfunded’ schemes, such as in the civil service, is expected to fall from 1.9% of gross domestic product in 2010/11 to 1.4% by 2060.
PCS general secretary Mark Serwotka said: “This report provides further proof that when ministers talk about ‘unreformed’ and ‘unaffordable’ pensions, they either do not understand their government’s own schemes or they’re being economical with the truth.
“We have shown a willingness in the recent past to negotiate fair changes, but we will not accept a fresh ideological assault on our members’ pensions under the guise of necessity, when the evidence shows no such necessity exists.”
ENDS
Notes
– For information and interview requests contact PCS national press officer Richard Simcox on 020 7801 2747 or 07833 978216
– The Public and Commercial Services union represents civil and public servants in central government. It has more than 300,000 members in over 200 departments and agencies, as well as staff in parts of government transferred to the private sector. PCS is the UK’s sixth largest union and is affiliated to the TUC. The general secretary is Mark Serwotka and the president is Janice Godrich
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