Public sector pensions 'unfair'

 

New research has revealed concerns about the difference between private and public sector pensions.

A recently-published report from finance protection expert AXA has revealed that 61 per cent of voters feel it is "unfair" that public sector pension trustees receive more than those with private savings.

Paul McMahon, managing director of AXA Corporate Benefits, said: "There is widespread public policy debate acknowledging that something needs to be done about the rising cost of public sector pensions, but very little detail has yet emerged on how this might be addressed."

The research revealed that 44 per cent of public sector trustees agreed with the notion that the system is unfair.

Concerns about the divide between public and private sector pension schemes could encourage a number of trustees to seek out additional ways of funding their retirement.

Schemes such as equity release can provide homeowners with a welcome financial boost with cash taken from the value of their property assets.