The giant Local Government Pension Scheme faces an ‘unaffordable' extra National Insurance bill of ‘several hundred million pounds', if the Department for Work and Pensions proceeds with controversial reforms to retirement pots, a leading council union has warned.
The GMB union representing town hall staff claims the abolition of the contracting out National Insurance rebate – part of the coalition's pension reform plans – will impose a £6bn new tax burden on workers and employers.
