Lord Hutton: Public sector final salary link 'inherently unfair'

He also said the government could make short-term savings by raising contribution rates - but warned it should have regard to protecting the low paid. Following publication of the Independent Public Service Pensions Commission's interim report this morning, Lord Hutton said the current public service pension system has been unable to respond flexibly to changes in life expectancy over the past few decades. According to numerous estimates, someone retiring now can expect to spend 40% of their adult life in retirement. He noted this has driven up costs by a third in the past decade, ...