Budget: George Osborne accepts Hutton review of reform of public sector pension contributions.
Budget 2011: Public sector pensions contribution rate to rise 3% - Citywire
Members of unfunded public sector pension schemes will have to contribute an extra 3%, the Chancellor George Osborne has announced. He announced a consultation on how public sector pension liabilities are calculated would conclude that higher contributions were needed to address the shortfall. He also indicated there would be further rises in contribution rates in years to come. Osborne said he would look to take on the recommendations of John Hutton's Independent Public Service Pension Commission review.