Thursday, March 10, 2011

Unfunded liabilities? That’s not real debt, provided you don’t mind the system grinding to a halt.

Mass Strike Fears Amid Public Pensions Review

Controversial reforms to public sector pensions will bring the threat of strike action by million of workers closer, unions have warned. A review carried out by Lord Hutton and published today is expected to recommend the likes of NHS staff, teachers and council workers pay more in contributions towards retirement.

Posted by general congreve @ 10:15 AM (1403 views)
Please complete the required fields.



15 thoughts on “Unfunded liabilities? That’s not real debt, provided you don’t mind the system grinding to a halt.

  • general congreve says:

    Of course, the £5-6 trillion of unfunded future liabilities that the government keeps off the books is not real national debt, as it is not due yet and can always be reneged on. Providing you don’t want your bins collected, children being taught, hospitals being operational and your nuclear power stations to function properly.

    Reply
    Please complete the required fields.



  • A lot of people will be suffering sleepless nights over these proposals because they are relying on the Pension Commencement Lump Sum (Tax free cash) to settle their debts particularly those teachers and Police/Fire officers who have Interest only mortgages !

    Reply
    Please complete the required fields.



  • The only way the average man and woman in the street is going to get access to decent pensions is is everyone is in the same boat.

    The real disgrace is that Hutton will not go that far. They will say they have reformed public sector pensions but it will remain risk free gold plated pensions for them and take your chances with the spivs on the casino for the majority.

    The public sector schemes should be wound up immediately and replaced by a universal fully funded scheme open to everyone, public and private.

    Public sector workers would have their salary increased accordingly and contributions deducted at source.

    It’s also the only way to make the cost of private sector workers pensions transparent and ensure they are funded by the current generation, not future ones.

    Reply
    Please complete the required fields.



  • Once you have a welfare state the size of the west’s the only option you have is to run massive deficits coupled with lashings of inflation and tax rises to pay for the whole shebang.

    Reply
    Please complete the required fields.



  • sibley's b'stard child says:

    I almost feel vindicated in ceasing paying into my final salary pension – mainly because I couldn’t afford the payments – as I very much doubt by the time I retire in 30-odd years time there’ll be a pot left to pish in. Of course, my old man is a proponent of FSP. But then, he’s worked in the PS all his life and retired last year so – yeah – ker-ching.

    Reply
    Please complete the required fields.



  • They won’t strike. Too many people are too heavily indebted with large mortgages and loans etc. to go without a few days pay – let alone a month or more’s pay. Quite a clever ploy if you ask me – get people loaded up with debt, then erode their incomes and they’re relatively powerless to do anything about it. Greed my little housepricecrash chums… Greed I tells ya!

    Reply
    Please complete the required fields.



  • You know who you’ve got to blame sibs… Dour looking fella, socially inept, known to enjoy prescription tranquilisers to control his temper. I’ll give you one guess.

    Reply
    Please complete the required fields.



  • Alright, alright, more clues : Not good with numbers, only able to balance a budget by maxing out on credit cards to pay off the overdraft (only to be found later to have hid the real books under the bed with lots of “off account” debt – it was debt, but “Not as we know it Jim..”), lied about lieing, labels everyone who disagrees with him as a “bigot”.

    Reply
    Please complete the required fields.



  • OK, ok, tried to get a job in Europe but they didn’t want him. Tried to get a job at his old alma mater but they didn’t want him either. Has offered his services to various charitable fronts but they don’t want his negative publicity either. Currently spending a lot of time in his bubble bath playing with rubber ducky shouting “Nurse! Bring the sponge!”

    Reply
    Please complete the required fields.



  • sibley's b'stard child says:

    Ah, for a moment there it sounded like my old man. But i’m going to guess at a certain slack-jawed, cyclopean, buffoon?

    Reply
    Please complete the required fields.



  • tyrellcorporation says:

    Labour ducked this issue nicely for 13 years and kept it’s client voters happy. The coalition are finally trying to sort the mess out and will be duly punished at the next ge. Hopefully the private sector will rise up and administer the coup de gras on the hideously parasitic public sector. The outrageous threat of industrial action is nauseating considering they will still be left with pensions light years away from what’s on offer in the real world. Let the private / public battle commence. It’s literally a fight to the death now and if the government can start to dismantle these ancient edifices we might actually stand a chance in the 21st century.

    Reply
    Please complete the required fields.



  • Correct! Old slack-jawed one himself.

    Reply
    Please complete the required fields.



  • @tyrellcorp. : If you want to rip apart the public sector to hand out to your friends in business, you must first discredit it in the public’s eye in order to prevent a backlash. Labour have done this quite nicely by bloating it beyond all recognition – for their own naive political ends – and the big institutions have sat back and let it happen, knowing that when the piper calls they will have their pound of flesh. And we all look on and say nothing because they deserve what they’ve got coming – look at them with their secure jobs and fat pensions etc. etc.
    Quite clever when you think about it.

    Reply
    Please complete the required fields.



  • Average public sector pension is £7800. Hardly seems worth working there. If private pensions are averaging worse than this then a lot of people are in for a grim/no retirement.

    Reply
    Please complete the required fields.



  • Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>