Pensions funding gap blamed on lack of foresight

PSPA chair holds administrations of 80s and 90s responsible

"Everybody took their eye off the ball."

That's the belief of the chair of the Public Sector Pensions Authority regarding the PSP legacy funding gap.

Jerry Carter says the nub of the problem dates back to the 1980s and '90s.

That's when, he says, there was plenty of money around and the government at the time was offering very good packages in order to attract top professionals to work here: (play audio)