Crisis in public sector pensions
As former MPs retire on 'gold-plated' pensions, is a funding crisis looming for all public sector pension schemes? Gerry Northam investigates.
As MPs and senior officials retire on 'gold-plated' pensions, the media report that public sector pension schemes are heading for crisis because of multi-billion pound funding deficits. Local Councils alone are said to face a black hole of Â£53bn, which critics claim can only be filled by drastic cuts in entitlements and increased contributions from staff.
Both Conservatives and Liberal Democrats are committed to reform of the system. Unions are planning a campaign to preserve their members' rights and have already secured a significant court victory blocking cuts to redundancy payments.
Gerry Northam looks behind the headlines and asks if there really is a looming pensions crisis.
Producer: Samantha Fenwick.