Saturday 24 March 2018

Public sector reform a mirage

As the deadline for the receipt of retirement applications from public sector workers wishing to benefit from the old, more generous, pension regime expired yesterday, it is already clear that forecasts of disruption have been greatly exaggerated.

Yesterday it emerged that Paul Appleby, the director of the Office of Corporate Enforcement for the past decade, had handed in his notice. Mr Appleby is one of approximately 9,000 public sector workers who, by retiring now, will receive far more generous pensions than if they stayed in their jobs for a few more years.

With anyone retiring after the end of next month set to receive a pension based on career average earnings rather than their final salary, it made sense for many senior public sector workers in their late fifties and early sixties, including Mr Appleby, to go now.

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