I've worked in the private sector for 32 years now and have seen a load of changes in that time. I had a nice final salary pension scheme until around 15 years ago, now it's locked up in a pension scheme that is shaky to say the least. Public sector workers will never have that problem or worry unless the country goes bust, then were all in the sh1t together anyway
I am now a member of a pension scheme that like many, do not provide anywhere near the income that I would like to have come retirement time in 16 years time. The options - like it or lump it, that's all that's on offer.
I was out with a mate of mine who's a copper coming up to retirement and he was bemoaning the changes that were coming to public sector pensions and how he had to contribute 9% of his salary for his generous pension. He could not believe that I was paying in 15% of mine for a pension that would not come anywhere near his. Teacher on daytime telly today was moaning that she contributed 6% of her pay into pension - wow
So the public sector think they are hard done too. About time they joined the real world and realised like the private sector, their current final salary pension schemes cannot be supported and they have to work later, just like other people have to.
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