IT'S time that we as tax payers stop forking out millions and millions to the pension pots of local government schemes.
Better Politics knows of one local government scheme in England which has a growing deficit of £25 A SECOND - that equates to over £2m a day. Yes, the stock market has gone down but even the scheme's own financial expert does not think it can come back to parity - it is currently £2.1bn in debt. He says there's only a 35% chance of this happening in the next 20 years!
And who pays for this in trying to plug a dying pension system? Well, surprise surprise, it's us - the tax payer. We are the mugs - again.
One pension expert thinks that one day there will be nothing in the pot left to pay out pensions. This, though, will never happen while the Government guarantees these dying gold-plated systems based on final salaries.
No one in the private sector these days can retire on final salaries yet council officers can.
We pay around £35 a year from our council tax bills to go towards other people's pensions - it's not on and it needs changing now.
Posts
