Despite the recent unrest by public sector workers and threatened strike action, public sector pensions cannot be allowed to continue at current levels.
The average Private sector worker has a pension pot of £30,000 on retirement which would produce and index-linked joint annuity of £900.
However members of the Public and Commercial Services Union receive an average pension of £6,000 a year, which would require a pot of £200,000 if it was not funded by the taxpayer.
The unfunded cost of servicing the UK's public sector pension liabilities of £1.2 trillion of is £45bn each year!
