Downing Street Says » Public Sector Pensions

» Tuesday, October 18, 2005

Public Sector Pensions

Asked if Downing Street was concerned about the impact on the public purse of the recent public sector pensions agreement, the PMOS said that in terms of the impact of the original deal, it was estimated that 85% of the savings would come from new entrants anyway. There were some 50,000 new people out of 550,000 who join every year. So the main impact was going to come from new entrants anyway. So it didn’t actually shift the burden of the savings to any great degree.

Asked to respond to union calls for the deal to be extended to the 1.3 million local government workers, the PMOS said that he was not going to second guess other discussions that were taking place. This was a sensible agreement that was reached with the unions and the savings would be considerable. The change would be worth £13billion over 50 years.

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