Public sector is 'winner' in state pension reform

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Actuaries claim public sector workers will gain from the abolition of contracting out but unions contend it could derail public sector scheme reform.

Yesterday the government published its state pension reform white paper, in which it confirmed that contracting out will be banned from 2017. Unions said the reform would hit public sector schemes, which are contracted out. Trades Union Congress (TUC) general secretary Frances O'Grady said: "We are extremely concerned at the impact on public sector employers who will face a 3.4% increase in National Insurance contributions (NICs). "Unless public sector employers are compensated for this, it will lead to big cuts across public services." However, Buck's senior corporate consulti...

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