Whilst Danny Alexander has threatened to withdraw the offer if the strikes go ahead, George Osborne has defended the offer put to unions, stating that it is more than fair. Yes it is more than fair when compared to the majority of private pensions, which are just shit; it doesn’t make the offer fair. One of the biggest draws to working in the public sector is the benefits that they provide; you may not paid as much as if you were in the private sector but at least you had your pension, which is worth a lot. It’s funny how this is not mentioned.
Most of the comparisons regarding public sector and private sector are true, but this is not because the public sector pensions are overly generous. These are the type of pension schemes that many companies used to offer (some still do), until the greed of salesman took over convincing people that it is better to have a personal pension than a final salary scheme. Yes it is better for the consultant looking at his fat commission bonus but not for the member who gave up a guaranteed pension to gamble on the stock market.
The stock market is just like one big bookie, and they always say you never see a broke bookmaker!