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LibDems slam public sector pensions

The top 300 civil servants have combined pension pots worth £250m, according to research from the Liberal Democrats.

LibDem Shadow Work and Pensions Secretary David Laws says the disparity between pensions accrued in the public and private sector is absurd and highlights the need for fundamental reforms.

He says £16bn is paid in taxes each year to fund public sector pensions, almost the same amount spent on primary education.

Laws has called for an independent commission, along similar lines to the Turner Commission, to review public sector pensions. He says the current pension reforms will lack real credibility unless public sector pensions are reformed.

The Government is committed to the deal brokered by former Work and Pensions Secretary Alan Johnson, which allows current public sector employees to continue retiring at 60 while new employees retire at 65.

Paterson Financial Planning managing director Damien Paterson says: “When clients see the public sector benefits compared with their own, they are astounded and the issue is clouding the current reforms.”


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