The Tories would have you believe that the pension reform for all the public sector is to prevent future funding problems. What a load of bollocks. I have read today that some of the concessions that are being made are actually improving the pension schemes (44ths instead of 60th accrual rate), so why all the fuss – the 3.5% increase in contributions. As usual the Tories are only playing the short game to maintain the status quo; this increase in contributions will give the Government the extra revenue they desire to balance the books in the short term. If I was the Unions I would hold out for even more concessions as it looks that the Govt won’t budge on the 3.5% increase; play your cards right and you can make your pension scheme even more attractive.
The myth of gold plating has been brokered by the Tories and the city to get public support on their side when in reality all the Govt is interested in is extra income from those who are already struggling to survive in this economic climate; most too proud to admit it. An additional 3.5% paid now, in spite of what is promised in the future can be crippling for a family on a low wage. Yet again the working classes are being screwed by policies that are only designed to maintain the hierarchical structure of this country – Etonian Oxbridge brigade who will divide this country’s spoils amongst themselves given half the chance.
Jason E Cooper 