In the light of pending increased pension contributions for public service workers, I was wondering is there anyone that can give an unbiased view on how valuable a ps pension is?
The majority of public sector employees contribute to their pension but are not entitled to a state old age pension so their contribution will only make up the difference between the two. However, they will be entitled to a lump sum of 1.5 times salary after 40 years service.
I do not want to turn this into a private versus public sector debate. I would just be interested in the view of someone with some expertise in pensions. Is it the case that for ps workers on low to middle income salaries, their pension is not as great as it made out in the media?
The majority of public sector employees contribute to their pension but are not entitled to a state old age pension so their contribution will only make up the difference between the two. However, they will be entitled to a lump sum of 1.5 times salary after 40 years service.
I do not want to turn this into a private versus public sector debate. I would just be interested in the view of someone with some expertise in pensions. Is it the case that for ps workers on low to middle income salaries, their pension is not as great as it made out in the media?