UK Politics

Liberal Democratic Party: Action needed to cap fat cat public sector pensions says Webb

Press Release   •   Dec 02, 2009 10:56 GMT

“The Government must be much more transparent about the costs of pension promises," said the Liberal Democrat Shadow Work and Pensions Secretary.

Commenting on new research from the Institute of Fiscal Studies on the pension advantage of public sector workers published today, Steve Webb said:

“Ministers have failed to grasp the need for reform of public sector pension provision. We need a new ‘Turner Commission’ to propose a sustainable, long-term solution. But we also need swift action to cap fat cat pensions at the top of the public sector.  

“The Government must be much more transparent about the costs of pension promises that have already been made and ensure that the costs do not fall unfairly on taxpayers, many of whom may have very poor pension provision.”