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Trade unions attack 'inconsistent' pension report
16 October 2008 14:25
A report that claims public sector pensions are worth three times more than their private sector equivalents has been attacked by the Trade Unions Congress (TUC).
The findings of an investigation by the pensions Policy Institute (PPI) published today (October 16th) revealed that a typical public sector pension was worth 21 per cent of a salary, compared to seven per cent in the average defined contribution scheme.
The TUC responded by saying that larger public sector pensions often contributed for relatively low pay at the top end of the salary scale.
General secretary for the TUC, Brendan Barber, stated that public sector pension critics are inconsistent and cannot logically attack the government for the decline of quality private sector pensions while also criticising it for the preservation of decent public pensions.
Figures quoted by the Press Association show that public sector workers contribute around £4,000 each annually to their pension, in contrast to £1,600 by private sector employees.
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