Spending review chief suggests cutting top pensions
Cottarelli proposes changes affecting only 15% of allowances12 March, 15:42
He suggested that only about 15% of pensions would be affected through "a temporary contribution for pensions above a certain threshold, to allow the recruitment of new people". Speaking to the Senate budget committee, he also suggested that actual savings from the review could total about three billion euros this year, "if you do the right things and if there is an effort".
Savings could rise to as much as 18 billion euros in 2015 and 34 billion for 2016, he said.