IBEC accused of ‘exploiting’ recession

IBEC has been accused of exploiting the recession in its members’ self-interest after it called for an end to defined benefit schemes in the public sector.

The employers’ representative said the average public sector pension was worth a premium of 13.5% of salary more than the average private sector pension.

It said that at a time when the Government urgently needed to cut costs, the preferential pension scheme should no longer continue.