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Public-sector pensions back under the spotlight

The Confederation of British Industry (CBI) has today called for a review of UK public sector pension schemes which are set to cost each and every worker in the UK an additional £330 a year to plug the ever-growing blackhole. The total cost of "unfunded" public sector pension schemes has now reached £1 trillion and is set to grow in the future. This comes at a time when many UK citizens are struggling to make ends meet and in financial difficulties themselves.

As we wait for the general election gun to be fired this morning it seems as though the CBI will play a more prominent role in this election than ever before. The Confederation is already at odds with the UK government regarding a proposed increase in national insurance payments and today's criticism of public sector pension schemes will add further fuel to the fire. While a number of polls today suggest a shortening of the difference between the Labour party and the Conservative party there are many who believe now is the time for change.

The next four weeks will ultimately decide who will be the next party in power and while only a few months ago the Conservative party seemed to be a dead cert, it is not so clear now.

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