This is a news story, published by MSN, that relates primarily to The Office for Budget Responsibility news.
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current public sector pension systemTelegraph
•72% Informative
The Office for Budget Responsibility estimates that the Government spent 125bn (4.6pc GDP) on the state pension in 2023 to 2024 .
But no political leader has yet mentioned the elephant in the room public sector pensions.
The unique thing about these pensions is that while they are built up by contributions from both employer and employee over their time in public service, the money that was paid in has been spent.
To eliminate this conflict, civil servants must be taken out of the decision-making process, and have reform conducted by independent pension experts familiar with both public and private sector systems. In the meantime, every year that passes with heads buried in the sand is another year in which future taxpayers’ incomes are mortgaged. Sign up to the Front Page newsletter for free: Your essential guide to the day 's agenda from The Telegraph - direct to your inbox seven days a week..
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