It's a perk! |
I don't work in the public sector and therefore don't pay into a public sector pension - strike that – I do pay into public sector pensions through my taxes. My taxes provide revenue for public sector pensions.
I don't pay into a private pension – can't afford it, too many outgoings that can't be skimped on to enable me to make financial provision for my dotage. I work to support my worst half who retired through ill-health in his late forties, I work to pay my mortgage that has almost quadrupled as I had to remortgage due to a predicted red light shortfall, I work to pay for food in my belly and pay utilities. I also work because I love it.
I am not unhappy with my life as it is rich in many others ways, a sons wedding quite soon, a first holiday in almost twelve years on the near horizon, good friends, lovely job and so on – my life is rich.
Those that exist outside the five million in the public sector have seen the forecast value of their pension reduce – if they have one – many don't, know they have to work longer before retirement as, as we live longer the available pension pot is much smaller, accept that they probably wont have a pay rise for some time to come, tighten their belts and so on. Some have found they have been made redundant as business fails across the board.
So it sort of peeves me that those in the public sector see themselves as a special case, excluded from the flack of recession and excluded from the reality that recession or not, the retirement age must increase as funding in its present form is unsustainable. I can understand why they might be peeved in that they are now expected to contribute more into their pension that will be worth less after having to work longer for it. It is probable that if I worked in the public sector I too would be experiencing their angst.
Presently civil servants contribute a maximum of 3.5% towards their pension, teachers 6.4% and I as a taxpayer contribute 19% towards the public sector pension pot. This works out at approx. £1000 per household and forgive me public sector worker – do you not think this is a bit unfair? If I can't afford to contribute towards a private pension for myself – why should I contribute towards yours?
Public sector employers will argue that they are tax payers too – and indeed they are – but they receive some of their taxes back in the form of their specific pensions.
That's really all folks – just my personal feelings. I do not intend to get involved in the politics of politics, IMF, Iceland, Greece, bailouts, collapsing economies, deficit reduction, unions, strikes, government raids on pension funds, protected benefits of union bosses and politicians – just the mention is self explanatory.
C'mon public sector workers – see the light and stop being so selfish. This is one big society no-one can exclude themselves from. We are all in the same boat whether we like it or not.
Anna :o]
PSS Just read, so just added - Dr Zorro