UK resident: don't employees pay into their funded pension schemes? Can't employer just up contributions and cut benefits for newly hired ones? Background: My

UK resident: don't employees pay into their funded pension schemes? Can't employer just up contributions and cut benefits for newly hired ones? Background: My public sector pension is funded through contributions from employer and employee and benefits paid out of revenue, so no investment or equity. Govt has just increased contributions paid to cover costs. Newer employers work longer to receive benefit (retirement age increased during Coalition government). PS: not even close to 70K mind you, think factor of 5 to 7 less!