Report states public sector contributions may rise

Posted on Jul 05, 2010

According to a report by the Public Sector Pensions Commission, employee contributions may have to double due to the Government greatly underestimating the cost of public sector pensions.

Peter Tompkins, Chairman of the Commission and Fellow of the Institute of Actuaries, commented "The Government is effectively running an arrangement where it pays in a lot less than it's actually costing per person and it's building up taxes for future generations to pay."