Pensions

This should be the thorny issue in the Budget. Back in the old days, just after WWII, life expectancy was much shorter than days. This meant very little was paid out in the way of public sector section. Some received none, typically dying while on the job, some a little pension before they died, in their 60s, and a few did pretty well living to a ripe old age. Health, and longevity was certainly not enjoyed as much as today.

Now we live longer, and enjoy healthier lives, we have to work longer. It is simple as that. Still, in the public sector, there are many expecting to retire on full benefits age 60 to 65. There are those who are expecting to retire younger, indeed - police, fire brigade (50 I believe), nurses... I agree that you may not want either of sticking to that job to 109, but they can do something to pick up the bills. You don't have to give at working completely.

Now in the private sector, you hardly ever find a new job with a generous final style ("public sector") pension. While average pay in public and private sector is very similar, the public sector's pension shifts the "package" massively in their favour. In fact, the last 5 years, no employer of mine put a penny towards my pension.

Even those private sector employers who do put in a derisory amount usually, compared who to the public sector, who put in 15-20%, and are increasing that amount to fund ther scheme.

I am afraid eventally the public sector mention will be expected to take a hit, but I am afraid any government will take their time, for fear of the unions.

An alternative would be to run down the health service. People would die younger, and save government money on public sector pensions.

PS: Thanks for all the messages on the blog. There may be periods when it goes fallow for a while. It probably means I'm feeling lousy or found something better to do. It doesn't mean I'm dead!