UK civil servants face pension cuts

(Times Online): Millions of public sector workers will have their pensions slashed under plans to deal with a massive shortfall in the value of local government pension funds, The Times has learnt. The move by ministers to strip council workers of their “gold-standard” final-salary pensions is likely to trigger widespread industrial action. John Denham, the Communities Secretary, is drawing up a series of proposals to overhaul the pensions of two million council workers, covering short, medium and longer terms. Senior staff could lose out on tens of thousands of pounds a year if the changes are applied across the board.

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