Coalition reforms to unfunded public sector pension schemes will be derailed by a £15.4bn funding shortfall by 2017, a report by the Centre for Policy Studies (CPS) think-tank claims.Report author, pensions analyst and CPS director Michael Johnson, said a 'cashflow crunch' would reach 'unsustainable levels' within five years - with an estimated £4 out of every £5 paid to former civil servants, teachers and NHS staff coming from the taxpayer.
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