Socialist Worker

Cost of pensions plan

Issue No. 2255

Thousands of low-paid workers could drop out of public sector pension schemes if the Tories increase their contributions.

The government plans to increase public sector pension contributions by 3 percent. A GMB freedom of information request revealed the scale of the problem.

It found the government estimates that 6 percent of those earning less than £35,000 a year will opt out of schemes if asked to contribute more.

Some 8 percent of those earning less than £21,000 a year will opt out. The union believes the real figures could be nearer 39 percent.

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