Public sector pensions will be capped as part of government plans to pay-off the UK's burgeoning budget deficit.
Chancellor Alistair Darling admitted the measure was part of a host of "difficult but essential choices" the government would take in the aftermath of the recession. These include increasing contributions for public sector workers earning more than £100,000. He says: "Public pensions need to be in line with private sector pensions. To this end, we will be looking to cap public sector pensions, saving £1bn a year in the process." The announcement comes after the department of communities and local government said Local Government Pension Scheme reform could be used to help halve the...
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