LGPS – dog's breakfast of ‘savings’ is a £900m windfall tax on scheme members

Local government employers in England and Wales have cobbled together a package of increased pension contributions, worse accrual rates and increased retirement age for LGPS members - designed to deliver £900m short term ‘savings’ as demanded by the Con Dem spending review:
http://www.unison.org.uk/asppresspack/pressrelease_view.asp?id=2449

UNISON and other local government unions have rejected the proposals which not only pre-empt discussions on a reformed LGPS in line with the Hutton review but take no account of savings made to the LGPS arising from changes to the scheme in recent years as well as the switch from RPI to CPI.
Listen here to UNISON’s Heather Wakefield respond to the employer proposals on BBC Radio 4 Today programme:  http://news.bbc.co.uk/today/hi/today/newsid_9598000/9598087.stm