Thousands of public sector service workers have protested recently, against proposed changes to their pensions. Protestors met to show their opposition to the changes in their pensions, and an increase in their retirement age, as part of the Trade Union Congress (TUC)'s 'Protecting Public Services Campaign'. The British Chambers of Commerce have a different view however, and have stated that the cost of public sector pensions is around £600 million, and believe that the Government is right to raise the public sector retirement age to 65.
Our view:
We can understand public sector workers not being happy. However, even with changes their pensions are substantially better and cheaper (for them due to subsidy by "the people"), than most private sector workers pensions, that is assuming the private sector worker gets any pension benefit from their employer in the first place. From what we know, and by experience, many public sector positions have little requirement to deliver or prove results with much waste in spending etc. You only have to see how many new "dustbins" you receive around February or how many roads start to be repaired in March etc. Many "public" institutions start to spend money torwards budget allocation time just so that they have at least the same budget next year. Public workers moan about pensions but have little regard for the financial waste in the public sector in general. Perhaps an independent, investigative body or public enquiry should take place for each "public" sector and see how much waste there really is. This may appease the cynics amongst us!