Tories vow to slash MPs' pensions and payouts to 'fat cats'

[TrueBlueTerrier]

Tories vow to slash MPs' pensions and payouts to 'fat cat' civil servants

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Major cuts would be made to MPs' pensions under a Tory government, George Osborne announced yesterday.

The Shadow Chancellor said MPs would be banned from joining the current gold-plated scheme based on age and time served.

Some politicians have built up pension pots of more than £1million under this scheme.

Instead, they will be forced to join a defined-contribution scheme like other workers.

Mr Osborne also laid out plans to slash retirement payouts to 'fat cat' civil servants.

There are 34,000 retired public sector employees with retirement benefits worth £1million each, up from 17,000 in November 2008.

A career civil servant approaching 50 stands to gain nearly six times as much in pension contributions as a private sector counterpart.

Former mandarins who quit their jobs, claim a pension and then cash in again by returning to work as consultants to their old departments will also lose out.

Senior party sources admitted the proposals are designed to pave the way for a future announcement that will see millions of other public sector workers asked to make sacrifices.

Mr Osborne is expected to lay out details of where the cuts will fall in the coming months.

He said his proposals would not affect the pensions of frontline nurses, soldiers and firemen.

Liam Byrne, Chief Secretary to the Treasury, responded by saying Chancellor Alistair Darling will spell out details of how Labour will cut Britain's £1.4trillion deficit in November's pre-Budget report.

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[saru]

It sounds good,,,,, but it still won't make me vote for them!

[TrueBlueTerrier]

It sounds good,,,,, but it still won't make me vote for them!

Ditto - but it is scary that the Con'us'servatives are coming up with Policies that can be seen as left of Labour, it shows how far the PLP have disconnected from their core voters.

[Lounge Lizard]

it shows how desperate the tories are for votes, and it won't affect their MPs much anyway as they all have plenty of other sources of income.