Private sector pension pots declined when Brown plundered them to finance his huge job creation scam in the public sector - long before the banking crisis. Private sector pensions are paid according to the amount of money available from the individuals pot - there is no other way of paying it. Public sector pensions should be paid on the same basis - the only other way is to take it from other people (the ever shrinking private sector),or borrow it to be repaid by future generations.
Final salary schemes were all but abolished in the private sector years ago and the same needs to happen in the public sector. The previous govt. made promises to their union paymasters that the country could never afford to keep,its time for someone to have the guts to tell them the truth.
Those who made career decisions in the private sector have had the goalposts moved and the promises broken during their working lives due to economic reality - its now the turn of the public sector. Its nothing to do with envy whatsoever,but evrything to do with a sense of overall fair play and a concept of the real world we live in.
The level of debt this country has is terrifying - it needs to be sorted.
If Labour were in power at the moment they would either be doing the same as this lot - or much worse,lying to everyone again and storing up huge problems for the future - just to keep the party coffers swelling with union money.
And btw - Im not an old Thatcherite blah blah....Ive never voted Tory in my life.
