A study by the Chartered Institute of Personnel & Development has found that more than twice as many have access to a final salary pension scheme, than people in the private sector. In 2004, 84% of public sector workers had access to one of these schemes, compared to just 38% in the private sector. Around 14% of employers are considering changing their company pension schemes this year. The main changes they are considering include increasing employer and employee contribution rates and amending accrual rates to make final salary schemes more affordable.
Our view
Most public sector workers do not know how good they have it.