FINANCE

Prospect says OBR figures undermine case for pensions reform

Projections showing public sector pension payments are set to fall in the long-term undermine the Government’s case for reform.

Independent projections showing public sector pension payments are set to fall in the long-term 'totally undermine' the Government's case for implementing Lord Hutton's recommendations, according to professionals' union Prospect.

Figures produced today in the Office for Budget Responsibility's (OBR's) inaugural fiscal sustainability report forecast such payments will decline from 2% of GDP in 2015/6 to 1.4% by 2060/61.

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