Hutton Report: Public service final salary link 'inherently unfair' - UPDATE 3

clock

The final salary link in public service pensions is 'inherently unfair' and can lead to high flyers getting almost twice as much back in pensions than those on more modest earnings for the same amount of pension contributions, Lord John Hutton says.

Commenting on the publication of the Independent Public Service Pensions Commission's interim report this morning, Hutton said the current public service pension system has been unable to respond f...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Defined Benefit

TPR's DB funding code comes into force

TPR's DB funding code comes into force

DB schemes with actuarial valuation dates on or after 22 September should use the code

Holly Roach
clock 12 November 2024 • 2 min read
PPF sees aggregate surpluses rise by £9.1bn in October

PPF sees aggregate surpluses rise by £9.1bn in October

Lifeboat fund’s index finds surplus rose to £485.1bn from £476bn at the end of September

Martin Richmond
clock 12 November 2024 • 3 min read
DB schemes continue to show 'significant surplus', PwC finds

DB schemes continue to show 'significant surplus', PwC finds

The organisation said schemes reached a new funding record in October

Holly Roach
clock 07 November 2024 • 3 min read
Trustpilot