Jay, i also said i didn't actually agree with striking, i was just trying to get people to see it from a different perspective.
Also these 250k gold plated pensions, what does that actually mean in terms of a yearly income?
Iirc teaching pensions are based on a 25 year retirement so 10k a year.
I doesn't work like that at all. Final salary schemes are called that because the pension is calculated on the salary at or near pension age and years in the scheme. That's why they are typically a "generous" pension, in the case of a teacher at the moment it's about 60% of final salary per month iirc
What we have moved over to in the Private Sector is more like what you describe and is called a defined contribution pension, you pay a set amount in each month, it's invested to grow at a pitiful rate to form the pension pot at retirement. This is then divvied up based on life expectancy, at the moment 19 yrs for a man and 22 years for a woman.