PENSIONS OF FOUR MILLION PUBLIC SERVANTS

That this House notes that the Pensions Policy Institute has concluded that four million public sector workers, including health workers and teachers, are facing huge reductions in the value of the pensions to which they have been contributing; further notes that these falls in value mean that what would have been a pension worth 23 per cent of salary will now only be 15 per cent of salary; deplores this dramatic cut in the future standard of living that faces these public servants; and calls on the Government to take action to restore the value of these pensions.