Public sector pensions

John Hutton's independent commission on the future of public sector pensions has today published his findings.

The implications of the report mean public sector workers may end up having to wait longer to claim their pension and will have to contribute more throughout their careers.

Lord Hutton did however insist that any change should protect the lowest-paid workers and suggested replacing final salary pension schemes with schemes based on average lifetime earnings.

Unions have a mixed response to the proposals, which will inform final recommendations to be implemented when the chancellor next delivers the Budget in 2011.

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