04 Nov 2015 12:47:
I just wish people slagging off public sector pensions knew what they were talking about, not listening to hearsay or making it up because someone knows someone on a pension.
Yes, as pointed out by others on here, public sector pensions used to be very good, as did private pensions, until the raid on pensions by Brown and the crash caused by deregulation of Banking when we followed the USofA model. All pensions suffered, some in the private sector eg equitable life disapeared. Public sector acted to make sure the disparity between public and private was not so big, and so unaffordable.
All the public sector professions mentioned on here have different pension arrangements to each other and can't be put into one 'public sector' bag. There is no 'lump sum' for everyone entitled to a public sector pension. There is for some pension schemes and not for others. Similarly, whether a pension entitlement is 1/80, 1/60th of a salary, a career average or something else, it completely depends on which 'public' pension scheme an individual's public sector employer has.
As in the private sector, those who earn more in public sector pay more (usually) into their pension. They may get the headline pensions used by the media to slam generic 'public pension'. The majority of workers (look it up) don't get anywhere near those 'gold plated' pensions and they are the ones we rely on to give us our services, whether nurses, teachers, firemen, police etc. Please stop the bashing.
Thread: Changes to State pension age for women