Lobby group to govt: Save £900m a year with our pension plan

clock

The government can save £900m a year from public sector pensions without raising workers' contributions for two years, a lobbying group has argued.

The Local Government Employers has written to Communities Secretary Eric Pickles with its plan, seen by the BBC. It says employees could either pay more in - starting in two years' time - to keep their benefits, or pay what they do now and get less when they retire. The latest plan, which could affect two million workers, claims to deliver the required savings without employees opting out of the pension scheme. In the letter to Mr Pickles, the group states its proposal "delivers the required level of savings, other than wholly through an increase in employee contributions, minimise...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Two firms declared in default by FSCS over pensions advice

Two firms declared in default by FSCS over pensions advice

Both Oakwood Financial Management and GO IFA are no longer trading

Isabel Baxter
clock 11 April 2024 • 1 min read
FCA lays out 2024/25 fees/levies proposals; £755m planned spend

FCA lays out 2024/25 fees/levies proposals; £755m planned spend

‘We recognise that firms continue to face inflationary pressures’

Hope Coumbe
clock 09 April 2024 • 4 min read
FSCS places Lancashire firm Frodsham Financial Planning in default

FSCS places Lancashire firm Frodsham Financial Planning in default

Advice practice formerly traded as Tom Carroll Associates FP

Hope Coumbe
clock 13 February 2024 • 1 min read