Submitted on Thursday 4th August 2011
Published on Monday 15th August 2011
Current status: Closed
Closed: Wednesday 15th August 2012
End Public Sector Final Salary Pension Schemes.
Very few people in the private sector have the luxury of a final salary pension scheme. I know, as i work in our pensions department ! In my current company, if i continue to pay 7% of salary over the next 20 years, i will only end up with an estimated pension of 1/40th of my salary ... not the 1/3 or 1/4 if i was in a teachers (1/60th scheme) or nurses (1/80th scheme).
Why should people in the private sector have to fund these generous public sector schemes ?? End them and put public sector workeres in money purchase schemes like the rest of us.
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