Crunch time for council workers’ golden pensions reports the Times, today:"Millions of public sector workers will have their pensions slashed under plans to deal with a massive shortfall in the value of local government pension funds, The Times has learnt.
The move by ministers to strip council workers of their “gold-standard” final-salary pensions is likely to trigger widespread industrial action.
It comes as the gap between public and private sector pensions widens. Yesterday Royal Bank of Scotland became the latest company to reduce final-salary benefits to existing staff. John Denham, the Communities Secretary, is drawing up a series of proposals to overhaul the pensions of two million council workers, covering short, medium and longer terms."
Read the article here
