0370 270 6000

already registered?

Please sign in with your existing account details.

need to register?

Register to access exclusive content, sign up to receive our updates and personalise your experience on brownejacobson.com.

Privacy statement - Terms and conditions

getting the balance right?

20 October 2010

The Chancellor today announced that public sector pensions are to be sustainable and affordable ‘gold standard’ final salary pensions. Employee contributions are to be increased staggered in line with employee earnings.

But has he got the balance right? There might be some unintended consequences for future tax payers – employees may withdraw from their public sector schemes, opting out from paying higher contributions, particularly during difficult times, leaving themselves with either little or no private pension income in retirement.

This is a trend currently being seen in the private sector, this combined with the closure of many final salary pension schemes could mean that future tax payers have to pick up the tab for more pensioners without sufficient retirement income.

It will be interesting to see how this progresses.

related opinions

Vegetarianism is not a philosophical belief under the Equality Act 2010

In its Judgment earlier this month, the Tribunal considered whether vegetarianism is capable of being a philosophical belief capable of protection under the Equality Act 2010.

View blog

Compulsory drone registration goes live on 1 October 2019

As part of the continued tightening of the restrictions on drone use within UK airspace, the latest amendments to the Air Navigation Order 2016 come into force on 30 November 2019.

View blog

IR35 changes - six months and counting...

In his 2018 Autumn Budget, the then Chancellor, Phillip Hammond, announced a significant change to the way liability for IR35 breaches will be dealt with for private sector companies from April 2020.

View blog

Marriott International: a look behind the ICO’s £99m fine and what this means for corporate acquisitions

Last month, the Information Commissioner’s Office (ICO) announced notice of its intention to fine (NOI) Marriott International, Inc. £99m for infringements of the GDPR.

View blog

mailing list sign up



Select which mailings you would like to receive from us.

Sign up