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Top 300 civil servants have £250m in pensions, says Lib Dem research

The Liberal Democrats have released research showing that the top 300 civil servants have combined pensions worth £250 million.

Commenting, Liberal Democrat Shadow Work and Pensions Secretary, David Laws MP said:

“The huge disparity between public and private sector pensions is frankly absurd.

“The current public sector pensions system is skewed in favour of high-flying civil servants, ministers and MPs at the expense of hardworking lower paid workers.

“Each year we pay £16 billion in taxes to fund public sector pensions, nearly as much as we spend on primary education. These figures startlingly highlight that this money is going to civil service fat cats rather than low paid teachers and nurses.

“This will be a shock to people working in the private sector who have seen their pensions slashed over recent years because of Gordon Brown’s stealth tax rises and the closure of good private sector pension schemes.

“It is essential that we establish an independent commission to review all public sector pension schemes so that they can move forward on a fair and affordable basis.”


The role of The Pensions Regulator

Regarding the article headed Dual-regulation fears for pension companies (Money Marketing, February 1), the consultation on how The Pensions Regulator intends to regulate definedcontribution schemes does not set out to “expand our remit”. It is already part of our remit under the Pensions Act 2004 to regulate occupational DC schemes and group personal pensions as […]

Barclays sees huge rise in lending as profits soar

Barclays witnessed a massive jump in mortgage lending last year to make up for a disappointing 2005.Gross advances at the lender, whose mortgage business is run under the Woolwich brand, were 60 per cent higher at £18.4bn than the £11.5bn in 2005, with a market share of 5 per cent, up from the previous year’s […]


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