PARLIAMENTARY EARLY DAY MOTION
PUBLIC SECTOR PENSIONS (No.3) (10 October 2011)

That this House notes that proposals by Government Ministers run the serious risk of making public sector pension schemes unsustainable; further notes that increasing contributions and reducing the value of pensions could result in significant numbers of scheme members opting out, which will leave many without adequate pensions provision; further notes that in the case of the local government pension scheme this will have significant consequences for investment capacity within the economy; further notes that despite the reports about gold-plated pensions, most public sector employees retire with fairly modest pensions; further notes that changes that result in a deterioration of public sector schemes will impact most on women, who account for two-thirds of public sector employees; further notes that 65 per cent. of women in public sector pension schemes receive pensions below 6,000 a year; further notes that the average for a woman working in local government is 2,800 whilst in the NHS it is 3,500; further notes that there is support from all parties for ensuring that anymodifications to the schemes leave them sustainable for the long term; further notes that there is broad recognition that the costs of the schemes should be shared fairly between employers, employees and the taxpayer; is concerned that the goal of maintaining schemes is being jeopardised by the need for short-term savings; is furtherconcerned that such an approach will hasten the race to the bottom on pensions; and urges Government Ministers to conduct meaningful negotiations immediately to secure the sustainability of the schemes.

Sponsored by:
Mr David Anderson (Labour)