Is it time to tackle the public sector pensions time bomb?

[le-joker]

Who was it that said, "Divide and rule."

That`s what is happening with the pensions. Give one lot more than is sustainable and give another lot a rip off pension and wach them squabble whilst we, the MPs` and law makers continue to line our pockets.

[mossdog]

Whilst ITV and SKY bosses are earning salaries in the millions.

 

Does this seem right? Perhaps not, but it has nothing to do with public sector pensions.

That's a non argument!.............the BBC is accountable to the taxpayer!.....Sky,ITV is accountable to the shareholder so a comparison does not make a lot of sense.I personally think the top wages of both sectors are obscene,but alongside that, the wages in UK today are much too high for many and are in need of a massive haircut to touch reality again.

Since the gold standard was dropped we have been printing and playing with monopoly money,but now the game is up and it's payup time.No one likes to be too pessimistic in these times but I'm going to be anyway and predict the bad times have not even started yet.As a recent report suggested,if we adhered to the only trustworthy "currency" left "Gold", houseprices would have to drop over 70% to get back to true value,and as the gold standard seems to be creeping in through the back door and many are calling for the standard to be re-introduced this makes the future more uncertain!Constant meddling and fixing fiat(paper) money values by governments will eventually lead to destruction of one sort or another!

[nightrider]

Jealous, none of it, the wife and I are more or less recession proof, through our own efforts. It's just that these guys appear to think that everyone loves them, and wants to protect them at our own expense.

 

Forgive me, but I spent a lifetime in the pensions/finance industry and can assure you that the warning signs relative to public sector pensions have been with us for many years. How can someone on £35K think that a £2K per annum pension contribution will provide a tax-free lump sum of £52,500 and an annual pension of circa £18,000 p/a, inflation linked with spouses benefits? They would actually need the equivalent of a £550,000 pension fund in the private sector to provide similar benefits.

 

They believe it because the deal they signed up to was the tax payer is paying for this - its not paid for by investments like a private pension fund would be?

[harvey19]

I think the majority of public sector pensions are not as high as some believe.

Where the problem lies is with the high pensions paid to those that were on high salaries. There could possibly be a limit on pension payments and those on high salaries should have been able to save for their retirement if their pension is insufficient for them

[mossdog]

I think the majority of public sector pensions are not as high as some believe.

Where the problem lies is with the high pensions paid to those that were on high salaries. There could possibly be a limit on pension payments and those on high salaries should have been able to save for their retirement if their pension is insufficient for them

Quite true! and nobody in the public sector should expect the taxpayer or further state borrowings to prop up their pensions.The world has changed, my lifes savings that pay my only pension have gone to zilch interest rates and I am now quite poor in respect of what I had hoped for.Am I going to march and moan at the bequest of some six figure salary union leader?.....I don't think so! past promises and expectations are now out the window till further future notice,which could be a very long time.Batten down the hatches and get real!The Tory lot in charge are no better or worse than the last lot,don't blame them! there's only so much you can do with the money available in tax revenues.