All civil servants (state and county and town) will be told to re-apply for the jobs within 12 months and salaries offered will be slashed by 25% across the board. Pensions will be commercial "money-plan" types, there will no longer be a final salary scheme.
Nick Robinson said:
So you knew tax rises, spending cuts, pay freezes and benefit cuts were on their way. Stand by for cuts in pensions for public sector workers.
The OBR report estimates that the cost of public sector pensions will increase in real terms by 20% every year - that's equivalent to the cost doubling over 5 years.
Nick Clegg describes this as unfair and unaffordable.
I'm told that we'll hear soon the name of the person chosen to chair an independent review of public sector pensions.
Ministers are clearly preparing the way for higher pension contributions and possibly, in the longer term, scheme closures.
Typical fucking politicians, not enough balls to do the job properly, but at least they're thinking and heading in the right direction.