Gap between wages and public sector pensions becoming untenable
Marc Glendening writes in Conservative Home
Neil Record writes in The Telegraph
IEA analysis featured in The Telegraph
IEA analysis of public sector pensions has been quoted on the front page of The Telegraph.
The article read:
“Retired public sector workers will receive a gold-plated pension increase worth twice as much as the average pay rise this year.
“The taxpayer is on the hook to fund next week’s 10.1 per cent inflation-proofing boost promised to the five million pensioners with a retirement income guaranteed by the state.
“Next week’s rise is the biggest public sector pension increase in decades and the highest against pay growth for more than 30 years, analysis reveals.
“And it comes on top of the 10.1 per cent increase to the state pension under the triple lock promise.
“Yet despite inflation remaining in double-digits, workers are expected to see wages rise by an average of 5 per cent this year, according to the Office for Budget Responsibility.
“Analysis for the Telegraph, by think tank the Institute of Economic Affairs, reveals the gap between public sector pension and wage growth had not been as stark since 1992.”
Read the full article here.