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Hutton report means work longer, pay more, get less, says CSP

The CSP has said it will seek members’ views on Lord Hutton’s public sector pensions report before deciding what action
to take.

The report, published last week, would abolish final salary payouts for NHS pensions if its recommendations were accepted by the government.

Instead, NHS and other public sector pensions would be calculated on a career average basis in the future, likely to leave many staff worse off in retirement.

Other key recommendations from the Hutton report include an increase in public sector pension age to 65, with increases in line with the state pension in the future, pushing retirement age up to 66 by 2020.

Ministers would also be given powers to raise employee pension contributions, or cut member benefits, to plug financial holes in public sector pension schemes.

The CSP has said it will consider the report, together with likely announcements in the 23 March Budget, and then seek members’ views on the proposals.

Hutton’s report recommends that all accrued final salary benefits should be fully protected.

CSP assistant director of employment relations and union services, Peter Finch, said: ‘The CSP has grave concerns at what can only be described as a piecemeal approach to pensions by the government and that the serious decisions have already been taken on the future of public sector pension provision affecting the lives of thousands of CSP members.

‘In the week that the obscenity of bankers’ bonuses again hit the front pages, Lord Hutton’s message is ‘work
longer, pay more, get less’.’

See the CSP website www.csp.org.uk for Hutton’s full report and further CSP reaction.

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