Government offers new pensions deal to unions
The government has come to a tentative agreement on pension reforms with the majority of public sector unions, Treasury Minister Danny Alexander announced on Tuesday.
The government has come to a tentative agreement on pension reforms with the majority of public sector unions, Treasury Minister Danny Alexander announced on Tuesday.
Union leaders will consider the terms of the offer and are expected to give a reply in the New Year.
The government has said it is unable to maintain state sector pensions at their current level and has made the proposals in a bid to minimise the payouts.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Speaking in Parliament, Alexander told ministers: "I am pleased to report to the House that heads of agreement have now been established with most unions in the local government, health, civil service and teachers schemes."
"It will now of course be for union executives and memberships to decide their response."
He also added that of the 28 public sector unions, 26 had agreed, at least in principle.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
‘Inheritance tax insurance’ enquiries are soaring – but is it worth it?
Premiums for whole of life insurance can run to £5,000 a month to cover a £300,000 inheritance tax bill, with policies costing more the older you take them out.
-
MPs warn over Lifetime ISAs which could leave savers out of pocket
The Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”