Saturday, November 26, 2011

Pension strikes

The public sector who enjoy better pensions than the private are going on strike to protect their nest eggs. Those of us who have had to buy our own pensions have no sympathy with them. Striking is a selfish inconveniencing of the public and will be of nil effect on negotiations. But what I think is generally not known is that there are two kinds of public sector pensions. Those of local authorities actually have invested funds to pay pensions. But civil servants have no funds saved by the Treasury. Like old age pensions these are funded directly from taxation. This seems to be a further argument to restrict them.

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