Independent Public Service Pensions Commission (Final Report)

George Osborne Excerpts

Thursday 10th March 2011 Written Statements

[The Chancellor of the Exchequer (Mr George Osborne)]

Lord Hutton has today published the final report of the Independent Public Service Pensions Commission.

I invited Lord Hutton to undertake a fundamental structural review of public service pensions and make recommendations on future public service pension provision. The Government are grateful for the work of Lord Hutton and the staff of the commission and will now give careful consideration to his recommendations. The Government are also committed to continuing to engage with people working in the public sector, trade unions and others in taking forward the implementation of any future reforms.

The Government stand by their commitment given at spending review that there is no race to the bottom of the pension provision, that public service pensions should remain a gold standard and that public service pensions should continue to provide some form of defined benefit.

The report is available in the Vote Office and the Printed Paper Office and it has been deposited in the Libraries of both Houses. The report is also available on the Commission’s website at: http://www.hm-treasury.gov.uk/indreview_johnhutton_pensions.htm.