Get away from my pension.

[milquetoast1]

And here is a bit of Stephanomics, to reinforce the complexity of the issue.

 

From that link, which I think is a good article by Stephanie Flanders btw:

 

Economists aren't big fans of hidden subsidies - especially when they are hidden even from the recipients themselves. Ask the average employee in the public sector how much his pension is worth, he or she is unlikely to say that it is worth another 30-40% of their gross salary. But that is almost certainly what it would cost a private-sector employer to offer a pension on the same terms.

 

And the Unison representitive on the radio knows that most people are unaware of how much public sector pensions are worth, which is why he talks about average pensions of "only" £4,000.

[Anna B]

People seem to be assuming that the Public sector is mainly well paid civil servants and pen pushers.

I don't know the figures but I would like to bet there are a hell of a lot more low paid blue collar workers; bin men, cleaners, and the like in the public sector than the well paid ones you seem to be referring to.

[upinwath]

Stop moaning.

You silly sods voted labour in, they spent all the cash so now you have to tighten your belts to pay for what you wanted.

Wonder how much less your pensions would have to be cut if the billions wasted fighting Labour's illegal war in Iraq hadn't been wasted.

 

Your own daft fault.

[Mister M]

So many people in private industry have either lost, or seen their pensions reduced to very little due to a change in policy in the late 90s by the last government. Public sector pensions don't pay for themselves, and police pensions are considered especially unsustainable: http://www.guardian.co.uk/uk/2010/apr/04/police-pensions-budget-20bn

 

How can it be fair, when the state pension age is rising to 68, that police officers can retire at in their early 50's with a full pension? It costs around 20% of the police budget. Its more generous than any other public service scheme, but even those don't pay for themselves. For a start, we're living so much longer the pot just won't last!

 

The last government targeted private schemes, such as the one my son was in (I have a daughter who works in the public sector, so I take a balanced veiw). My son works in banking (where all the money is supposedly ) and he had his final salary scheme frozen about 2 years ago, and the current scheme is based on how much is paid in. I don't advocate anyone losing their pensions, and would hope that no changes are made that will affect people who are nearing retirement.

 

The fact that public service is also now generally better paid than most private sector jobs is another reason why at least those on higher incomes should be paying more proportionately. http://www.thisismoney.co.uk/pensions/article.html?in_article_id=415950&in_page_id=6

 

 

"Lord Davies, a retired Judge chaired a police inquiry committee that in 1979 recommended a massive 45% pay rise for officers, with future awards linked to non-manual awards outside the public sector. The recommendations were accepted by Margaret Thatcher. But the price beginning to be paid now as officers who signed up to the new deal opt to retire on full pension after 30 years' service."

 

They got their rewards for being thatcher's lackeys

[upinwath]

 

They got their rewards for being thatcher's lackeys

 

A lot better than the rewards the miners got for being Scargill's lackeys.

If nothing else Thatcher's supporters weren't following an idiot.

That can't be said of the NUM.

[Tony]

"Lord Davies, a retired Judge chaired a police inquiry committee that in 1979 recommended a massive 45% pay rise for officers, with future awards linked to non-manual awards outside the public sector. The recommendations were accepted by Margaret Thatcher. But the price beginning to be paid now as officers who signed up to the new deal opt to retire on full pension after 30 years' service."

 

They got their rewards for being thatcher's lackeys

It all depends on the starting point doesn't it? Funnily enough when I was a kid we had no stair carpet, a 10 year old banger and no heating in the house until about 1980. Guess what my dad did for a living.

 

Here's a few facts about the glamorous pay and working conditions of a copper http://www.polfed.org/aboutus/82D030535AB1441294D6627F707D189C.asp