Click here to skip to content

Welfare Reform on the Web (March 2005): Pensions - UK

CBI REJECTS ALTERNATIVE SCHEME AS UNAFFORDABLE

N. Timmins

Financial Times, Feb. 7th 2005, p.4

The CBI has rejected as unaffordable the idea of a universal citizens' pension paid on the basis of residence rather than national insurance contributions, which has been attracting increasing interest in government.

EMPLOYER PENSION CONTRIBUTIONS RISE 50%

D. Turner

Financial Times, Feb. 7th 2005, p.4

Contributions by employers to defined benefit occupational pension schemes have soared by nearly 50% in a year. The big rise reflects an attempt by large companies to fill holes in their pension funds. There is a strong probability that companies will reduce future benefits to scheme members.

PUBLIC SECTOR PENSIONS COST DOUBLES TO £700BN

P. Iman

The Guardian, Feb. 18th 2005, p.1

The cost of public sector pensions has almost doubled in the last two years to £700bn, according to some pensions experts. Current official estimates are woefully out of line with the actual costs of providing pensions to public sector workers, they say, arguing that the Chancellor, Gordon Brown, was underestimating how much money would be needed to pay for pensions.

(See also The Daily Telegraph, Feb. 18th 2005, p.1; Financial Times, Feb. 18th 2005, p.1)

Search Welfare Reform on the Web