3 2 mins 13 yrs

There are two very different United Kingdoms. There is the one inhabited by fatcat State workers, insulated from the recession and sitting pretty on early retirement and final salary pension provision. And then there is the one inhabited by those who actually generate the wealth that funds the State...and things are not looking good for them…

Private sector workers will need to contribute a total 37pc of their salary into their pension to match the retirement income paid to a public sector worker on a similar earnings, according to a new report by accountants PricewaterhouseCoopers

To give you the contrast, civil servants contribute 1.5% towards their final salary pension scheme. The balance is made up by government taking from the private sector to reward their worker ants.

Clearly this is not a sustainable situation. There is a fundamental unfairness here and yet no government seems prepared to tackle it. Why? Because they fear the Unions organised backlash from enraged State workers having to face into economic reality. They would rather conquer and divide the Private sector and hope it never rises up in protest against the overlords who bleed it dry.

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3 thoughts on “INEQUALITY UK

  1. As somone who got medically retired after 25 years in the Civil Service i can speak with a little experience on the subject.

    My pension? £5k per year. And that’s before TAX i might add.

    Yes, life’s just peachy here in my mansion on my ‘fat cat’ Government pension.

  2. Of course, the Left would support the principle of the (don’t laugh) next Tory government burning public sector pay deals, which already make public sector workers higher paid than the private sector workers who generate all the wealth that funds public sector salaries.

    And since pensions are merely deferred salary payments, the disparity is all the greater.

    The Left will support the destruction of these "fatcat" deals because the Left has made it clear previously that retrospective action, to confiscate the wealth of those who ministers regard as having earned unusually high incomes, is a principle it supports.

    Isn’t that right, Leftists?

    No, the question doesn’t concern whether or not we think public sector workers are paid too much, it’s that you think the state can legitimately tell someone his contract rewards him inordinately and so the contract can be disregarded.

    I would do it, any sensible government would do it. It has to be done because public sector pensions are unfundable (well done, New Labour voters). All of which demonstrates that if you don’t want your enemies wielding powers in ways to which you object, don’t argue for your side to wield those powers in the first place.

  3. To get a full teacher’s pension (half pay) you have to pay 6.4% of your salary for 40 years .

    In that 40 years PricewaterhouseCoopers think that paying 37% of your salary will give you that 50% of your wage .

    Hands up those who think that interest rates will stay at 1% for the next 40 years .

    I’m not going to trust them with any long term inverstments .

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