Stop cuts to public sector pensions
Lord Hutton has suggested major changes to public sector pensions including ending final salary schemes. This is a retrograde step and must be challenged.
steve grant commented
come on MPs cut your pensions too !!!!!
The argument is that the TAX payer should not have to contribute so much to the Public service workers pension, but what is not mentioned is the Public service workers are TAX payers as well, income and council, they do not get 'staff discount'. Not only that it appears the 'extra' will not be used to bolster the pension scheme but to top up the funds used by the treasury! Quite correctly Kay Higgins is correct, the last government in about 2008 made the necessary changes and restructured the pensions so the were affordable. Often the argument is that some Private service workers have a worse or no pension scheme, but why should this be used to penalise workers who were able to negotiate a decent pension in the past? They cannot be held responsible.
Graham Shaw commented
Yesterday I phoned 'Teacher's Pensions' to check whether we were suffering CPI or still had the old RPI, I was told that since April CPI had been used. I don't remember anyone telling me.
Like the examples given in the news and on the BBC site I checked the effect it would have on me.
Assuming I live another 20 years, CPI at 2% and RPI at 3.4%
I would lose, wait for it .........
and by the end of 20 years the difference in my pension would be £8 500.
My fellings are if we are all in it together, then everyone's pension should be affected in the same way, ie all use the CPI, or everything should be done in the High Courts by every Union to get the change made illegal and reuse RPI.
I know Public Sector workers did not cause the financial mess, nobody seemed concerned with the debt ( every country seems to have a debt, why can't we just cancel all of them ?) until the Tories used the idea to push forward their dogma. So why must Public Sector Workers have their pensions cut in this way ?
Kay Higgins commented
The last government restructured the public sector pension scheme to make things affordable. Last year more was paid in by those working than was paid out in pensions (certainly in the NHS bit). There seems to be a media campaign suggesting that pensions are gold plated. This simply isn't true and as usual applies to the lucky few. Most people take up jobs with the public sector, knowing they will earn less than they would in the private sector because it is a service they believe in. They accept lower pay knowing that they will get a reasonable pension.
This will lead to recruitment problems in education health and other sectors, which will be damaging to all of us in the long run.
I'm 56 yrs old, am on a low income and have always worked and managed my money and lifestyle on the basis that I'd receive my public sector pension when I reached 60. I've already seen payment of my state pension delayed until I'm 66, meaning that I lose out on receiving the £36K of state pension I would have been paid over 6 years had the SP age for women stayed at 60, but that's another story. Now I'm looking at my public sector pension also suddenly being withheld until I'm 66 and facing the very real prospect of having to somehow find extra work on top of my existing job in order to get by until I'm 66. It really is not fair to suddenly bring in changes which have such seriously detrimental consequences for so many people.
Absolutely .. work longer, pay more, to get less ... what's fair about that !!!!!
Public servants pensions are unsustainable according to all of the official/establishment reports. Strangely though no mention is made of the final salary pension that MPs are on which are effectively twice as attractive as a public servants pension. To get half pay as their final pension they only have to work as an MP for 20 years whereas a public servant has to work for 40 years, strange that we hear no mention of this in the pensions debate. This doesn't even take into account that an MP is paid on average at least twice as much as the average earner in the public service. So let's hear some honesty in the pensions debate. Too right it should be challenged, especially as public servants wages are artificially lower than it's private counterparts, due to the fact that when it comes to wage bargaining with the treasury the first thing raised by the treasury is the so called gold plated nature of their pension schemes! Couldn't agree more with the Beales!
Dr David Beale commented
And Hutton a former Labour minister - what a disgrace! Yet again we are bing told to pay for a crisis caused by rich bankers who still get their massive bonuses regardless. People won't put up with this for ever.