At our service, but who will look after them?

Article Abstract:

Police and fire service pensions in the UK are unfunded, with the cost of paying pensions for retired staff being met from current revenue budgets. Employee contributions are used to pay the pensions of workers who have already retired. Pension costs have traditionally been quite low for the police and the fire service, so this approach was successful. However, there has been a sharp rise in early retirements, and medical advances mean that fewer police and fire officers are dying young. The Home Office is now considering how to deal with the growing pensions deficit.

Compensation and benefits, Police, Police officers, Fire fighters, Firefighters

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OFT report attacks 'inefficient and expensive' pension schemes

Article Abstract:

Many pensions which are being sold in the UK fail to meet customers' requirements, according to a report from the Office of Fair Trading. The report recommends the introduction of Designated Pension Plans, which invest pension contributions in tracker funds which match stock market fluctuations. These plans would be an alternative to the money purchase schemes which currently form the basis of personal pensions and to defined benefit occupational schemes connected with final salaries.

Reports, Pensions, United Kingdom. Office of Fair Trading

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There's a lot at stake in the pension race

Article Abstract:

The UK's new stakeholder pensions are designed to particularly benefit poorer people, but awareness of these pensions among poorer people is limited. There is a risk that the needs of many people will not be addressed.

United Kingdom, Services introduction, Abstract

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