NAPF reacts to Alexander's speech on public sector pensions
17 June 2011
The National Association of Pension Funds (NAPF) commented ahead of Danny Alexander's IPPR speech on public sector pensions today (Friday).
Joanne Segars, NAPF Chief Executive, said:
"It was clear that the Government needed to do something to limit the impact of increased contributions.
"These proposals spare the low paid and the phased rises make sense. There was a real risk that the poorest would be priced out of their pension.
"But even with these changes there is still a real threat that too many average earners will quit their pension, especially at a time of flat wages and tight household budgets.
"Lord Hutton has dispelled the myth that public sector pensions are gold-plated. All workers, whether public or private sector, should have the opportunity of retiring with a good pension.
"Moving to career average and increasing retirement ages will help put public sector pensions on a sustainable footing, while protecting the low paid."
*The NAPF has four million public sector pension holders among its member pension schemes.
Notes to Editors:
The NAPF is the leading voice of workplace pensions in the UK. It speaks for 1,200 pension schemes with some 15 million members and assets of around £800 billion. Its membership also covers around four million people with public sector pensions.
Paul Platt, Head of Media, NAPF, 020 7601 1717 or 07917 506 683, [email protected]
Christian Zarro, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]