Thursday 28 July 2011

£3,000 a year to keep 'gold-plated' public sector pensions

According to todays Telegraph, public sector workers will have to pay up to £3,000 a year more into their pensions to keep their retirement schemes, ministers are to announce.

In the first year, from April 2012, the best-paid 40,000 public sector workers, earning well over £100,000, will pay £284 a month – £3,400 a year – more for their final salary schemes, the figures show. A doctor on £100,000 a year will pay almost £2,000 a year more; teachers £1,752 and civil servants £2,100.

In the £50,000 bracket, those working in the NHS will pay £768 a year extra; teachers £696; and civil servants £684, ministers will say. Those on a £35,000 salary face paying an extra £516 a year. Those earning £21,000 a year will pay £108 a year more.

MP's will pay nothing and the very rich will continue to get massive tax rebates on their pension provision. All in this together? Yeah, right.