Prime Minister calls for MP pension scheme review

Mon, 16 Feb 2009

Prime Minister Gordon Brown has called for an end to the lucrative final salary pension schemes enjoyed by MPs. Some MPs are likely to object to the review, but for most private-sector employees final salary pension schemes are a thing of the golden past.

The government actuary was contacted by Gordon Brown last night, and asked whether the senior salary review body could review MP pension schemes . As well as abolishing final salary schemes, Brown also asked for a review of pension age, retirement due to ill health, increased member contributions and a cap on the maximum pension benefits that can be built up.

David Cameron was reported last year as saying: "If we really want to look other state sector, public-sector employees in the eye, and say we really do need to look at pension arrangements and reform pension arrangements and make sure they're affordable, we have to look at our own pension arrangements."
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