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| Expert: Government faces tough choices on pensions |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Friday, 09 July 2010 00:00 |
 An expert has said that the government has a tough choice to make with regards to pensions and taxes.According to Latih Khalaf, pensions analyst at Hargreaves Lansdown, the Conservative-Liberal Democrat alliance must either raise taxes or cut back on public sector pensions benefits in order to fund its increased levels of expenditure. The Public Sector Pensions Commission (PSPC) recently (July 7th) released a report in which it stated that post-retirement funds in the public arena are, on average, worth at least 40 per cent of an employee's salary, meaning that contributions may have to increase if benefits remain unchanged. As a short-term solution, the PSPC suggested raising contribution rates so as to reduce the burden on the taxpayer, but added that this was not suitable as a long-term method. Mr Khalaf noted that the government has little option over what course of action to take, but maintained that it is vital to take measures now in order to "prevent problems in the future". Posted by James Strang 
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