Hutton pledges to focus on fairness in pension probe
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Former Labour Work and Pensions Secretary John Hutton says “nothing is being ruled out” as he begins his review into pubic sector pensions.
Writing in Monday’s Financial Times, Hutton warned the public sector “cannot remain immune from major demographic and structural changes”.
He highlights the fact that few private sector employees are members of open final-salary pensions while recent National Audit Office statistics show the cost to the taxpayer of the four biggest unfunded public sector schemes has increased by 33 per cent in real terms over the past 10 years.
Hutton says all accrued rights will be honoured and his review will focus on fairness.
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