Firefighter Pensions

Andrew George MP has signed EDM2049. Motion reads: “That this House acknowledges that firefighters currently pay 11 per cent. of their salary into an unfunded pension scheme; is concerned by the Government’s proposal for a 3.2 per cent. increase in firefighters’ pension contributions at a time when they are in the second year of a pay freeze and the cost of living is rising; notes the findings of a recent YouGov survey of around 8,000 firefighters, which found that over a quarter of respondents would be likely or very likely to opt out of the pension scheme if the Government’s proposal were implemented, with nearly one in eight very likely to opt out; further notes that the Treasury’s forecast of 72.6 million savings over three years from this reform is based on an opt-out rate of one per cent. and that everyone per cent. opt out would cost the scheme 3.5 million per annum in lost contributions; shares the Fire Brigades Union’s concern that an opt-out rate of seven per cent. or over would nullify the Government’s projected savings and that the 27 per cent. opt-out rate indicated in the survey could result in a net loss of 210 million; believes that the proposed increase is self-defeating and would destabilise the firefighters’ pension scheme; and calls on the Government to withdraw its proposal for firefighters to pay additional pension contributions.”