Liability cap to be set on civil service pensions - papers 9 Jan

Unions and the government have reached broad agreement on a deal which will allow existing civil servants to continue to retire on final salary pensions at 60 but will see recruits on career-average pensions forced to wait until 65. But McFadden said the government also planned to impose a cap on any future increase in taxpayers' liabilities if costs rise beyond what is at present anticipated, says the paper. Initially any extra cost would be split 50:50 with employees, but with an absolute cap which would prevent the employers' contribution rising above 20% of salary from the generou...