Archive for the tag 'Pensions'

MYTH # 4. Most public sector workers retire at 60 on two thirds of their final salary
REALITY: The majority of workers joining public sector pension schemes will retire and claim their pension at the age of 65.
What are the Facts?
Many reports about pensions would lead you to believe that most public sector workers retire at [...]

7 Comments CherryPie on Mar 8th 2010

MYTH # 3. The discrepancy between private and public sector pensions needs to be tackled by punishing the public sector
REALITY. We should level up pensions – not level them down
What are the Facts?
Many justify attacks on public sector pensions by the decline in the number and quality of private sector defined benefit pension schemes.
Around [...]

5 Comments CherryPie on Mar 7th 2010

MYTH #2. Savings could be made by replacing final salary (defined benefits) schemes by a defined contribution scheme
REALITY. Scrapping defined benefit pensions would mean increased public spending on public sector pensions in the short and medium term
What are the Facts?
David Cameron has proposed replacing defined benefit schemes with defined contribution schemes in order to save [...]

Comments Off CherryPie on Mar 3rd 2010

MYTH #1 The cost of public sector pensions is spiralling out of control.
REALITY Costs are set to increase somewhat (as are all pensions costs), but not by an unsustainable amount.
What are the Facts?
Many attacks on public sector pensions give a huge number for the cost of future liabilities. But they rarely explain what [...]

4 Comments CherryPie on Mar 2nd 2010

Headlines about public sector pensions seem to have been appearing on a daily basis ever since the credit crunch started to bite. Attacks on pensions have been made by the Conservative Party, the Liberal Democrats and the CBI, alongside various newspaper and internet commentators.
These attacks say that public sector workers are unfairly rewarded and benefiting [...]

6 Comments CherryPie on Mar 1st 2010

Last Friday the Government announced plans to radically reduce the compensation paid to civil servants who are made redundant.  The proposals are published by the Cabinet Office and are described as “reform” of the civil service compensation scheme.  The proposals actually represent a cut in contractual rights to a decent redundancy compensation at a time [...]

21 Comments CherryPie on Aug 4th 2009

Myth 2: civil service pensions are ‘gold plated’
The myth
Parts of the media have pushed the idea of an ‘apartheid’ between public sector pensions and private sector pensions has grown with the public sector enjoying generous pensions which are gold plated. Public sector pensions need to be reformed as a result, it is claimed.
The facts
Pensions in [...]

8 Comments CherryPie on May 7th 2009

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