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Gold-plated public sector pensions 'set to cost every family £1,500' (Mail Online, Sunday Mail, This is Money)

    Last year the net cost of paying the pensions of retired State workers was £8billion. That figure is set to more than double in 2017/18 says Michael Johnson following his research for the CPS. (Tuesday 2 April 2013)

    To view the full article, visit The Mail Online website

    "The cost of paying gold-plated pensions to Britain’s public sector workers will double over the next six years to the equivalent of £1,500 per family, a damning report warns today.

    Between April 2011 and April 2012, the net cost of paying the pensions of retired State workers was £8billion.

    But this figure is set to rocket to £16.2billion in 2017/18, according to the forecast by the Office for Budget Responsibility, the Treasury’s independent watchdog.

    Experts said it makes a mockery of the Government’s claim to have tackled the problem of the ballooning cost of paying such generous pensions to the State workforce.

    It comes as unions are plotting strike action over changes to their pensions as well as other grievances.

    Members of the militant Public and Commercial Services union walked out on Budget Day and teachers are planning industrial action later this year...."

    To view the full article, visit The Mail Online website

    For more on this see Micheal Johnson's blog article: Public service pensions: Parliamentary Ping-Pong anyone?

    Date added: Tuesday 2nd April 2013