On the day 750,000 public sector workers are closing schools, the Telegraph reports on the real problem: after years of Labour largesse, the public sector doesn’t comprehend just how good a deal it gets. Thanks to the zero-risk defined payouts of unaffordable final-salary schemes, a mid-career teacher on £32k will retire with a pension equivalent to £500k. Vast.
That £500k isn’t a pot the teacher can take as a lump sum, of course: it’s the equivalent someone in the private sector would have to build up in order to draw a pension income at the same level. But this is the point. Public sector workers get a free ride from the taxpayer, making very little contribution themselves. Whereas the taxpayers who make it possible – private sector workers – get zilch.
We in the private sector don’t want your benefits, teachers; that’d be even more unaffordable. All we want is for you lot to understand that things can’t go on like this – that the public sector isn’t some sort of special case deserving preferential treatment. Accept that things have to change. And get back to work!