The real pension injustice - Public pensions!

Nick Clegg has criticised "unreformed gold plated" public sector pensions, as new figures show spending on them will more than double by 2014/5.

The Office for Budget Responsibility report says the cost is set to rise from £4bn to £9bn.

Deputy PM Mr Clegg said that was "unfair" and unaffordable. BBC political editor Nick Robinson said pensions cuts were on their way.

The coalition government has promised a review of public sector pensions.

'Not affordable'

Details of the review are expected to be announced in the Budget on 22 June, along with other plans to reduce the deficit, estimated at £155bn this year.

In a speech earlier Mr Clegg pointed to the figures in the OBR report and said: "Private sector workers have already seen final salary schemes close, while returns from defined contribution schemes fall.

"So can we really ask them to keep paying their taxes into unreformed gold-plated public sector pension pots? It's not just unfair; it's not affordable.

This week Canada's Finance ministers meet to talk about the Canada Pension. It's a good meeting about a real issue - most people do not save enough and most Canadians don't have a company pension.

But what was not on the agenda is what is being talked about in the UK and throughout Europe. People in the public sector have got too good a deal - a deal that cannot be sustained.

On PEI most people have no pension other than the state. But our civil servants have massive pensions that the rest of us with nothing - I include myself - will have to pay for.

What will happen? People will get cross. Very cross. Very very cross.

These pensions have not been funded - they will be paid out of current taxation.

In Europe where the pips are squeaking now, this injustice is exposed and will be corrected. Our time will come