William Eichler 16 March 2016

Budget 2016: Public sector pensions will remain 'sustainable', claims chancellor

The chancellor pledged today to ensure public sector pensions remain 'sustainable'.

As a part of the budget announcement, George Osborne argued public sector pension reforms carried out during the last Parliament will save over £400bn over the long term.

Promising to maintain this, he said the Government will 'keep public sector pensions sustainable'.

In order to achieve this, he stated: 'We have carried out the regular revaluation of the discount rate and public sector employer contributions will rise as a result.'

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