U.K.’s Hutton Wants End to State Final-Salary Pensions, FT Says
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Millions of people employed by U.K. public authorities should be moved from final-salary pension plans to ones based on average earnings over whole careers, according to John Hutton, a former Labour minister who is reviewing pensions for Prime Minister David Cameron, the Financial Times reported.
Also, pensions for National Health Service staff, civil servants, teachers and others shouldn’t be paid in full until the age of 65, and that should rise at least in line with planned increases in the age at which state old-age pensions are paid, the newspaper said.