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Independent Public Services Pensions Commission
The UK Chancellor Chancellor () is a title of various official positions in the governments of many countries. The original chancellors were the of Roman courts of justice—ushers, who sat at the (lattice work screens) of a basilica (court hall), which separa ... invited John Hutton to chair an independent commission on public service pension provision. This was intended to reduce the otherwise increasing cost of taxpayer-funded state pensions (as life expectancy increased) while ensuring adequate levels of retirement income. Recommendations made in the report *The Government should make clear its assessment of the role of public service pension schemes which should be to ensure adequate levels of retirement income for public service pensioners. *Public service employers take greater account of public service pensions when constructing remuneration packages and designing workforce strategies. *The Government should ensure that public service schemes, along with a full state ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chancellor Of The Exchequer
The chancellor of the exchequer, often abbreviated to chancellor, is a senior minister of the Crown within the Government of the United Kingdom, and the head of HM Treasury, His Majesty's Treasury. As one of the four Great Offices of State, the chancellor is a high-ranking member of the British Cabinet. Responsible for all economic and financial matters, the role is equivalent to that of a finance minister in other countries. The chancellor is now always second lord of the Treasury as one of at least six Lords Commissioners of the Treasury, lords commissioners of the Treasury, responsible for executing the office of the Treasurer of the Exchequer the others are the prime minister and Commons government whips. In the 18th and early 19th centuries, it was common for the prime minister also to serve as Chancellor of the Exchequer if he sat in the Commons; the last Chancellor who was simultaneously prime minister and Chancellor of the Exchequer was Stanley Baldwin in 1923. Formerl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Hutton, Baron Hutton Of Furness
John Matthew Patrick Hutton, Baron Hutton of Furness, (born 6 May 1955) is a British politician who served in several offices in the Cabinet of the United Kingdom. He was Work and Pensions Secretary from 2005 to 2007, Business Secretary from 2007 to 2008, and Defence Secretary from 2008 to 2009. A member of the Labour Party, Hutton served as Member of Parliament (MP) for Barrow and Furness from 1992 to 2010. Wikipedia:Citation needed">citation needed'' Early life Hutton was born 6 May 1955 in London, though his family moved to Westcliff-on-Sea, Essex when he was eight.Richard Northedg"Hutton dressed as lamb?" ''The Daily Telegraph'', 22 July 2007 He was educated at Westcliff High School for Boys and Magdalen College, Oxford, where he joined the Conservative, Liberal and Labour Associations and gained a BA in 1976 and a BCL 1978. He worked for a year as a bus driver. For two years he was a legal adviser to the CBI. From 1980 to 1981, he was a research associate for Te ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Career Average Pension
A career average pension or career average revalued earnings pension (CARE pension) is a type of occupational pension scheme, where people saving for retirement pay for a benefit after retirement where they will receive a sum that is calculated according to their average earnings over their career. Particularly in UK pensions, this model has been introduced as an alternative to both defined contribution pensions, which may run out and lead to old age poverty if they live longer, and final salary pensions which give people a benefit based on the last salary they earned before retirement. Career average pensions avoid a situation where, in their last few years of work, employees jumped up to management positions with much higher salaries: meaning that lower earners do not subsidise much higher pension benefits for just a few people. UK public sector CARE pensions are revalued annually in accordance with rates issued by His Majesty's Treasury under the Public Service Pensions Act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
