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SCC WELCOMES HUTTON REPORT ON PENSIONS

[ 10-03-2011 ]

Commenting on today’s publication of Lord Hutton’s report on public sector pension provision, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said:

 
“Lord Hutton has been thorough in his analysis of public sector pension provision in the UK and has recognised that many schemes have become too burdensome on the taxpayer, whilst the private sector has long recognised the need to reform the pension plans for their own employees.  When we met with Lord Hutton, we reinforced to him the need to bring the public sector back into a closer alignment with pensions available to the majority of Scottish staff.
 
“Whilst we would have preferred to see a move to a more contribution based model of pension provision, the recommendation that an average salary based pension be introduced is a step in the right direction and will reduce the cost to the taxpayer, who would otherwise be subsidising an unsustainable pension model for public sector workers.

“We look forward to hearing how the UK Government intends to take these recommendations forward in due course.”

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