Pensions - why civil servants shouldn't moan

http://www.moneyweek.com Pensions -- Why the public sector is taking a high risk approach by striking over pensions.

Tim Bennett, Deputy Editor of MoneyWeek, explains state and private pensions, the costs involved and the amount you'll need to save in-order to retire.

Paying particular interest to the Civil service pensions and whether they're sustainable.

Category:

Education

Tags:

• pensions
• public
• private
• civil
• servants
• strikes
• education
• money
• finance
• living
• investments
• moneyweek
• tim
• bennett

[MrLotineGuy]

Annuity pensions are, we all know, a fraud. Private sector pensioners should be clamouring to have their pensions improved instead of jealously decrying public sector pensions. Public sector pensions are not enough to live on these days. If you have spent 35 years in a classroom or hospital, you deserve a pension, believe me. Public sector pensions will soon disappear anyway because of the change in index linking and the future outlook of hyperinflation which may arrive very soon now.

[MoneyWeekVideos]

bbkaran - please explain. 

[bbkaran]

just because you have the media, you shouldn't talk rubbish.

[gtaylor987]

What is these mythical "average salaries" Tim is talking about? We as civil servants signed up to a less than the market rate salary for someone doing the same job in the private sector in exchange for greater "job security" and a "fair pension". The first has long gone out the window and the government has now decided to cynically ditch the second. Similarly, many civil servants only get 1/80 final pension per years service rather than the 1/60 you quote, a difference of 25%. I could go on.