Public sector pensions cost twice as much as previously thought, it has been claimed.

According to the Public Sector Pensions Commission, these pensions are worth an average of 40 per cent of a salary.

Further to this, the commission said that there is an increasing burden falling on taxpayers to pay pensions.

The organisation has therefore called for radical reforms to be made to public sector pensions.

Peter Tompkins, the commission's chairman, remarked: Increasing longevity means that pension provision has to be looked at again, and the public sector cannot continue to remain immune.

Meanwhile, research conducted by MGM Advantage claimed recently that more than three quarters (77 per cent) of Britons aged 55 and over are oblivious to the fact that certain medical conditions could entitle them to a higher level of pension income .

Indeed, the survey found that 59 per cent of consumers aged 55 and over claim they have or have had a medical issue that could qualify them for an enhanced annuity .