Magazine article Public Finance

Employers' Latest Pension Proposals 'Are Much Worse'

Magazine article Public Finance

Employers' Latest Pension Proposals 'Are Much Worse'

Article excerpt

Local government unions have rejected the employers' latest pension proposals as 'beyond the pale'.

A national strike across local government was called off in April when Deputy Prime Minister John Prescott agreed to revoke amendments to the local government pension scheme that increased the standard retirement age from 60 to 65.

The increase was facilitated by removing the so-called '85-year rule', which meant that scheme members who retired between the age of 60 and 65 could take unreduced benefits, as long as their years in service, plus age, added up to 85.

The revoked amendment included protection for older workers due to qualify under the rule before 2013, but the Employers' Organisation's latest set of proposals, obtained by Public Finance, do not.

'The proposals are much worse,' Unison's head of local government Heather Wakefield told PF. 'Not only are they proposing to remove the rule of 85 next April, they are now offering no protection for existing scheme members. …

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