The great pension scandal

Great to see Channel 4 news getting the bit between its teeth about one of the biggest scandals in Britain today.

I'm (and they’re) talking public sector pensions – especially at a time when many workers are looking at cutting any pension contributions they may have to make ends meet.

A whopping 90 per cent of state employees will enjoy a final salary pension. If you’re in the private sector, then that figure is just 15 per cent (and falling).

It used to be that a generous pension was seen as recompense for years of average salaries. That’s not true now, though, with many public sector workers doing very well thank you very much - and probably not for working all that hard, either.

Bigger public sector wages equal a bigger bill for public sector pensions. Who’s paying for that? The good old taxpayer - who cannot afford to put money into their own pensions because they are paying so much tax to finance the pen pushers of the town hall.

And... while the rest of us are being encouraged to work to 65 and beyond, the public sector brigade all get to call it a day at 60.