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.