Thursday, 3 November 2011

How much worse off will you be under the pension proposals?

Pay more, work longer, get less.
Many public service workers are being asked to pay more in pension contributions by an average of over 50%.

You're being asked to work longer, as the retirement age for public service workers is set to increase.

And you'll get less. By using the Consumer Price Index (CPI) instead of the Retail Price Index (RPI) anyone getting their pension could be 8.5% worse off by 2017.

And the extra money isn't being used to improve pension schemes for the future, it's going straight to the Treasury to pay for the bankers' crisis.

Find out how you will be affected.

Pensions calculator

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