The Hutton interim report suggests a number of ‘money saving’ improvements to public service pensions. It would appear that the solutions are known before the problem is identified. The scheme revaluation, currently underway, won’t be reported until 2012.
In the meantime proposals, possibly to include:
• raising the retirement age
• increasing employee contributions
• move to average salary pensions
will decimate the contractual benefit we enjoy and deprive teachers of the retirement they have so hard worked for.
This Association will fight to retain our pensions, and other contractual benefits. This will begin on 23 October with the ‘There Is a Better Way’ rally in Edinburgh. If you can, please support the rally in person. Further information will be added regularly to the website, along with details of how you can become involved.
However, to allay concerns of members approaching retirement age, Lord Hutton has always stated preserved pension rights should be protected.