Plans are being considered to offer public sector workers higher salaries in exchange for reduced pension benefits. This proposal aims to address staffing shortages without increasing taxpayer burden.
Millions of Brits working in the public sector could be offered higher salaries in return for lower pensions under plans to avoid strike action next year. Teachers, nurses, civil servants and others working in the public sector could see their healthy pensions slashed in return for bigger pay packets in the hopes of reducing staffing problems without adding extra burden to the taxpayer.
Cat Little, permanent secretary to the Cabinet Office, has said that she is reviewing “the balance between pay and pensions”, and has begun conversations within Whitehall. The Treasury is yet to be consulted on the plan but is expected to express concern as it would require borrowing tens of billions of pounds in the short term. The Times reports. Labour has already promised to fund pay rises of 2.8% next year, which is just above the 2.6% rate of inflation expected in 2025. The public sector pensions bill is expected to reach more than £36 billion next year due to the measure. It comes after the Labour government settled a series of long-running strikes by dishing out pay rises across the public sector. The Treasury has previously said it will only fund pay rises of 2.8% a year. This has sparked concerns of further industrial action unless it forks out extra cash amid backlash from unions. Paul Nowak, general secretary of the TUC, has said this is not a “serious” figure and has warned more will be needed to address the issues across the country’s public services. He said in a message to ministers: 'If you are serious about repairing and renewing our public services, you have to be serious about public service pay.'It's hard to see how a 2.8% rise addresses the recruitment and retention crisis across the public sector, with 150,000 staff vacancies in the NHS alon
Public Sector Pensions Salaries Strikes Labour
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