Phillip Hammond speaks
Orignally article appeared on MoneyMarketing a few weeks back.
The comments below are taken from the article and sum up some of these issues. There is a big problem with these schemes. Not only from a funding perspective, because the taxpayer is going to have to pick the bill up but from a fairness perspective.
Ordinary working members of the public end up with a crappy, high charged, non guaranteed pension scheme but those lucky enough to get a job in a hospital or the local council end up with a massive pension pot – in the main funded by us.
This cannot continue.