PUBLIC SECTOR PENSIONS

That this House is alarmed by threatened changes to public sector pensions, including higher contributions, at a time when public sector pay is being frozen and conditions worsened; believes that such attacks risk deterring teachers, especially those at the beginning of their careers, from saving for their retirement or even from entering the profession itself; recalls that as recently as 2007 new contribution rates, cost-sharing agreements and higher pension/retirement age were introduced for all new teaching staff, yet this has not been given the time to deliver necessary cost savings; and calls on the Government to desist from further cutbacks to teachers' pensions including any changes to pension indexation from RPI to CPI formulae which would wrongly quantify the pensions entitlements of those leaving the teaching profession.