The projected value of the state pension collapses in the face of the rising cost of public sector pensions:

Billions of pounds have been added to the cost of unfunded public sector pensions as the various schemes from the NHS to civil servants, the armed forces and teachers have updated their assumptions about how long people will live, Watson Wyatt, the pensions consultants, said.

The NHS has become the latest to do so, with the government now expecting the typical employee to draw their pension for more than 30 years – to beyond their 90th birthday.

via / UK / Politics & policy – Longer life raises bill for taxpayers.

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