This article is based on a lecture delivered by the author at the University of East Anglia on 31 March 2011.
The Future of Public Sector Pensions
Article first published online: 13 MAR 2012
© The Author 2012. The Political Quarterly © The Political Quarterly Publishing Co. Ltd. 2012
The Political Quarterly
Volume 83, Issue 2, pages 311–317, April-June 2012
How to Cite
HUTTON, J. (2012), The Future of Public Sector Pensions. The Political Quarterly, 83: 311–317. doi: 10.1111/j.1467-923X.2012.02285.x
- Issue published online: 13 MAR 2012
- Article first published online: 13 MAR 2012
- Cited By
- public pensions;
- pensions reform;
- public sector;
The dramatic rise in life expectancy and longer retirement has created serious concerns about the long-term affordability of public sector pensions. Drawing on insights from a recent inquiry into public sector pension reform, commissioned by the Conservative–Liberal Democrat Coalition and led by the author, this article outlines the challenge faced by policy makers and sets out how it should be addressed. It argues that, with 12 million people active in this part of the pensions system, and estimates that the gap between contributions and payments will grow from £3bn to £10bn in the next decade, the government has no choice but to enter the ‘lions’ den’ of pensions’ policy. It contends that any long-term solution is to be crafted cannot be based solely on economics, but must also answer fundamental questions of ethics and equity.