There Are Better Areas to Cut Spending Than Public Sector Final Salary Pensions

Summary

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Andrew McKie echoes Deputy Prime Minister Nick Clegg in calling for final salary pensions for public sector employees to be scrapped ("If it's cuts you need, I've got plenty of useful suggestions", The Herald, June 21) .

Their argument is that private sector employees have already lost theirs and that they are unaffordable. Public pensions are the only pensions that anyone is guaranteed to receive when they retire though.

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Extract

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There Are Better Areas to Cut Spending Than Public Sector Final Salary Pensions

Company pensions, of whatever kind, may disappear if the company goes bust or if pension funds are misappropriated. Non-final salary pensions may disappear owing to the vagaries of the stock market. I have talked to many people over 65 who have been ...

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