Public sector pensions - UNISON comment

Commenting on Treasury plans to consult on the discount rate used in public sector pension schemes, Dave Prentis, General Secretary of UNISON, said:"Changing the discount rate would cause more problems than it would solve. On average, public sector workers pay 6% of their salary into their pension schemes. The Government is now talking about adding an extra 3% on top. This could price many low paid workers out of saving towards their retirement.“If public sector workers are forced to opt out, this will undermine the future viability of the pension schemes. Workers will stop saving and rely on state benefits when they retire, leaving the taxpayer to pick up the bill.“It is time the government turned their attention to the private sector, where two thirds of employers don’t provide a single penny towards their employees’ pensions.”