Looks like you’re on the UK site. Choose another location to see content specific to your location

Home Industry News Budget change to public sector NHS pensions widely criticised

Budget change to public sector NHS pensions widely criticised

18th March 2016

According to George Osborne's Budget, public sector pensions, which includes those in the health sector, are going to be funded differently in the future and look to be stripped of around £1 billion.

The chancellor also stated that employers will be required to contribute more to NHS staff pensions, reports the BBC.

Despite this, he maintains that individual pensions will not be affected and the Treasury said that employers will have three years before the changes come into effect.

The Treasury also believes that changes will be aided due to low inflation. However, this still means that departments will be contributing more to their overall cost and that the Treasury will be saving £2 billion a year.

Liberal Democrats leader Tim Farron said that cuts were being "sneaked through" and would result in there being less money to be spent on doctors and nurses, among others in the public sector.

He added: "It will mean the NHS, it will mean schools, it will mean the armed forces, it will mean the police. It takes that money directly out of the front line of those services."ADNFCR-8000103-ID-801814882-ADNFCR

We currently have 5 jobs available in Pharmacy industry, find your perfect one now.

Stay informed

Receive the latest industry news, Tips
and straight to your inbox.