Whatever we had churned the thoughts regarding the Public sector pensions, it cost double the amount of what it is expected out and thus we do need some urgent reforms, as per the recent report. Now the workers employed in the public sector shall be required to save 40% from their annual salary to support their salary pension benefits.

However the exact input entailed in it is at half of its level, which seems to stand at 6% for the workers and 14% for the employer. Further with accord to the report the Public Sector Pensions Commission also advised that the Government accounting practices were crafting out the exact cost of the schemes.

The commission has accounted that the schemes shall cost the Government approximately £18 billion over the next financial year, but it also squabbled that the figure was pretty close to £35 billion when the same was measured precisely.

The commission further expressed that this shall mean that the costs were irrationally pushed on to the future taxpayers.

Further the commission pressurized that the pension costs must be met by the employees and their employers, instead of being footed by the taxpayer.