End in sight 'for publicly funded pensions'

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End in sight 'for publicly funded pensions'

Tue 15th Jun 2010

There are changes in the pipeline for publicly funded pensions, according to one sector expert, who thinks it may well be the end of the line for such initiatives.

Pensions analyst at Hargreaves Landsdown Laith Khalaf suggested "that's the way the wind is blowing", suggesting that is seems likely the current Conservative-Liberal Democrat coalition government will make reductions to the system of public sector pension benefits.

In his view, it may even lead to a full review, although this might not be carried out immediately.

He said: "We don't know whether it is going to be announced in this Budget but it is looking like they are going to announce something."

Mr Khalaf noted that it was mentioned in both the Liberal Democrat and Conservative manifestos that publicly funded pensions would be looked at, so an investigation is fully expected.

Chancellor of the exchequer George Osborne remarked in a recent debate that the government's spending review would look at restraining the cost of public sector pay and pensions.

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