Pensions deal sparks fury

27-10-2005

Business angry over government U-turn. Business groups are furious that the government has agreed to let public servants retire at 60.

The government had previously insisted the retirement age should increase to 65 in eight years� time.

But after threats of a national strike by unions, the government backed down and let workers on existing schemes retire at 60.

However anyone joining on a new scheme will have to work until 65 before they can earn a pension.

CBI director general Digby Jones said: "We are livid. At the first sign of trouble, they have completely given in. It is a disgrace."

Miles Templeman, director general of the IoD said: �The government has caved in to the trade unions when strong leadership was required.

�New entrants will now retire at 65 but existing public sector workers will continue to retire at 60. Someone joining the civil service will still be able to retire at 60 in 40 years� time.�

Richard Staines
RECRUITER

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