Harry Cullen, of the Northern Ireland Conservatives, has welcomed the executive’s “uncharacteristic outbreak of realism” in asking public sector workers to contribute more to their pensions.
“Unlike their counterparts in Scotland, our executive has at least taken a realistic approach to the public sector pensions’ issue, albeit that its hand has been forced by the Treasury,” Harry commented. “We’ve long known that the gap between employee contributions and the cost of their pensions is completely unsustainable. The tax payer is already filling this black-hole to the tune of £3 billion annually and the final bill has been estimated at up to £1 trillion.”
“That can’t be fair by anyone’s estimation. Private sector employees, who pay more into their own schemes, often with the prospect of a less generous pension at the end of their working lives, are being asked to subsidise public sector pensions which are threatening to cripple our economy.”
“We’re lucky to finally have a government which is getting to grips with our pensions time-bomb. Unison and other public sector unions may disagree, but this is an issue of fairness and an issue of accountability.”
“A 3.2% increase in contributions represents a fairly modest sum and it still leaves most public sector workers with pensions that will be the envy of workers in the private sector. An increase is the right thing to do, it’s the fair thing to do and ultimately the decision will help protect front-line jobs in our public services.”