Pension costs falling

Projections contained in today's Office for Budget Responsibility report show total gross spending on public service pensions peaking at around 2.3 per cent of GDP during the five-year forecast period, before falling to 1.3 per cent of GDP by 2061-62. These figures show a steeper fall than their 2011 projections. This chart illustrates how, far from costs running out of control, as some claim, they are in fact falling sharply.

Somewhat different from the nonsense the Tax Dodgers Alliance put out this week!