Lets stop pussyfooting around and awarding well deserved respect to teachers and nurses and others - apologies for missing you out but time is too short and I know there are lots more of you. What about a little respect for the private sector ?
lets have a few home truths and stop trying to be politically correct, or upset the other side in the negotiations - most of us are outside of that. And we the taxpayers are paying for it all.
So every penny that the public sector spends on salaries pensions and other employment benefits comes from taxation on the private sector. Please do not tell me how all public sector employees and employers pay tax - where did that money come from in the first place ?
so a few questions:
why should the 8 million employees who have no company pension of any kind pay for the public sector GUARANTEED, and still gold plated scheme ?
and yes with the new autoenrollment legislation they will all get one in the next few years - Why does the public sector think that those employers and employees should continue to support your fantastic scheme through taxation when by my estimates your scheme will still be 3 to 4 times AND I do mean multiples not percentages or if you want percentages then 300 to 400 % better than what you are going to get on the present offer ?
And why should the public sector be immune from the realities faced by the private sector which with some exceptions has seen the virtual demise of final salary schemes over the last 10 to 15 years - they are unaffordable, they represent a blank cheque in this case signed by the taxpayer.
I was talking to an employee of a major national company this morning and asked if their final salary scheme had survived. The answer was NO, and when I asked about what they had now estimated that the employers costs had been reduced by a minimum of 10 % per annum. I dread to think what you would all have done if your pensions had been hit by that sort of contribution (sorry blank cheque promise) reduction
So I am a bit fed up with the assumption that the public sector should be immune to reality. Forget the economic crisis that we are in at present - if you can. The fact is you should not expect the private sector to pay you for something that is multiples better than what many of them have for themselves - if at present they have anything at all. You cannot ignore the reality that your pension will have to last a lot longer as we all live longer. AND that costs A LOT more. and as far as the public sector is concerned it is past time that you all understand where that money comes from.