date: 15 December 2010
embargo: For immediate release
Commenting on a report by John Ralfe, an independent pension consultant, which claims that the public sector pensions deficit has more than doubled to £100bn in the past three years, TUC General Secretary Brendan Barber said today (Wednesday):
'This is a maverick take on the local government scheme. Figures for scheme deficits can easily be presented as big scary numbers. All you need to do is disagree with the current way of calculating future commitments that stretch for decades as if they all had to be paid tomorrow.
'But the LGPS scheme is perfectly sustainable and affordable, and member pensions have already been hacked back by the government switch to CPI indexation.'
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Rob Holdsworth T: 020 7467 1372 M: 07717 531150 E: [email protected]
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Issued: 15 December, 2010