Job cuts in public sector as part of austerity measures

Public sector workers in several countries have found their pensions targeted as part of government austerity measures. In one of the first significant moves on pensions following the economic and financial crisis, public sector workers in Ireland were forced to pay increased pension contributions. The so-called “pensions levy” meant that on average workers suffered a 7.5% cut in their net pay. In Greece and Spain higher pension ages and longer periods of contributions required for a full pension have also featured in the cuts imposed by governments. Some details on these three countries are