The Labour Party has pledged its commitment to keep defined benefit pensions for the public sector.

Speaking at the Pensions Age Autumn Conference, shadow Pensions Minister Alex Cunningham was asked whether DB schemes are still a viable option for the public sector given the cost and that many employees in the private sector no longer have access to a DB scheme.

In what he described as a “difficult question”, Cunningham said he “firmly believes” in DB schemes for local authorities, the NHS, and the whole public service.

“Sometimes I look upon it that a lot of people who work in these areas have some of the most difficult jobs…I think we’ve got some responsibility to our public sector workers to maintain DB as long as we can.”

“There is no doubt about it, these days that cash is very tight within local authorities. My own local authority in Stockton-on-Tees has lost around 55 per cent of its budget, and we need to understand what is going to happen in the future, where are the savings, but as far as I’m concerned we remain committed to DB schemes for public sector workers.”

When asked about Labour’s policies on pensions tax relief, Cunningham was unable to give an answer, and instead said it was “a matter for our treasury team”. However, he said tax relief is being examined very carefully by Shadow Chancellor John McDonald.

He also reiterated Labour’s plans to look into having a variable state pension age, retain the triple lock and allowing the uprating of the state pension for expats in all countries around the world.

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