clipped from: www.timesonline.co.uk   

Taxpayers fund 34,000 pension-pot millionaires


The greatest number of seven-figure pension pots is found in the National Health Service, which has 22,999 pension millionaires.


Other public sector pension millionaires include 3,680 former civil servants and 2,658 teachers, according to figures obtained by The Sunday Times under the Freedom of Information Act. Almost 400 retired staff from Glasgow city council and 223 from Kent county council also have pension pots worth £1m or more.


The pension figures for almost 1,000 NHS trusts, councils, quangos and Whitehall departments also show that large numbers of staff are taking early retirement.


The number of public sector pension millionaires is likely to rise sharply because greater longevity is making it more expensive to fund final salary schemes, which remain common in the public sector.