Wednesday 2 November 2011

Pensions: Ministers urge unions to accept new deal

According to the BBC:




The government is urging unions to accept revised proposals it has made for public sector pensions, which it says are a "deal for a generation".


Under the new plans, anyone within 10 years of retirement will not face changes, while accrual rates for pensions will be higher than planned.
David Cameron told MPs that the improved offer was "very fair".

Unions, who are balloting their members on strike action, are considering the proposals.
Negotiations between ministers and union chiefs over pension proposals from the Labour peer Lord Hutton, who chaired an independent review, have been deadlocked.

'Best offer'

But announcing a set of "revised" proposals in the Commons, Treasury Minister Danny Alexander said they could pave the way for a settlement lasting 25 years and were "more than sufficient" to avert strike action later this month.

Under the proposals, about one million public sector workers who are due to retire in the 10 years from 1 April 2012 will now not be affected by any of the changes currently being discussed.

Read more here: http://www.bbc.co.uk/news/uk-politics-15549321