Public sector pension reform plans reach parliament

The Bill, being formally presented to parliament as it enters its final stage, will detail the change from final salary to career average pension schemes. It also states the linking of the normal pension age of civil servants to the state pension age (excluding police and armed services). The Office of Budget Responsibility has estimated that the reforms will reduce the cost of public service pensions by 40% over the next 50 years. Treasury chief secretary Danny Alexander described the reforms as "a settlement for a generation". "This is a good deal for taxpayers and a good deal fo...