Pensions minister Opperman slates public sector DB schemes as unsustainable

The pensions and financial inclusion minister, who last week overtook Sir Steve Webb as the longest-serving holder of the post, told The Sunday Times he believed public sector defined benefit (DB) schemes to be "not sustainable for this state, or any state". "It's a practical reality," Opperman (pictured) said. "I don't believe that it is the case that in ten to 20 years' time we're all going to be in DB schemes". He added that his view applied "as much to the civil service and to members of parliament or anybody", adding: "We are going to move to a different type of pensions scheme, ...