The public sector pensions Ponzi scheme is an insult to taxpayers

Gold-plated pensions promised to public sector workers now total nearly £5 trillion. This is almost twice the national debt. Critics call it a Ponzi scheme and this isn’t far off. Legally ...

CouponFollow Extension

£5
OFF

The Public Sector Pensions Ponzi Scheme Is An Insult To Taxpayers

2 days from now

Gold-plated pensions promised to public sector workers now total nearly £5 trillion. This is almost twice the national debt. Critics call it a Ponzi scheme and this isn’t far off. Legally ...

msn.com

$69000
OFF

Public Pensions: The Ultimate Ponzi Scheme - Investor's Business …

2 days from now

Jul 9, 2018 · The average pension for a California public-sector worker who retires after a 30-year career is almost $69,000. ... taxpayers ought to demand that their state and local governments …

investors.com

£57
OFF

Public Sector Pensions Cost £57bn Per Year More Than Is Declared, …

2 days from now

Oct 26, 2021 · PUBLIC SECTOR PENSION S COST £57BN PER YEAR MORE THAN IS DECLARED, FINDS NEW RESEARCH . Government is misleading Parliament and the public …

iea.org.uk

£2
OFF

Taxpayers Hit With £2.5bn Public Sector Pensions Bill - The Telegraph

2 days from now

Apr 12, 2024 · Taxpayers will have to pay an extra £2.5bn to cover the cost of honouring “gold-plated” public sector pensions after retired civil servants were handed one of their biggest pay …

telegraph.co.uk

£1
OFF

Public Sector Pensions Are A Gross Injustice That Can No Longer Be …

2 days from now

Oct 2, 2024 · The liability of unfunded public sector pension schemes is currently valued at £1.3 trillion – higher than 100pc of the UK’s GDP, which also happens to be higher than the UK’s …

telegraph.co.uk

£17
OFF

Unlawful Public Sector Pension Reforms Will Cost £17bn To Remedy

2 days from now

Jul 16, 2020 · “For Great Britain, the total annual cost of paying out unfunded public service pension scheme benefits stood at £41.8bn in 2018-19,” the Treasury said. “Most of this cost is …

ft.com

FAQs about The public sector pensions Ponzi scheme is an insult to taxpayers Coupon?

Are public sector pensions a Ponzi scheme?

For these workers to suffer relative poverty while working, and yet receive very generous pensions once they retire, is a very inefficient HR policy, let alone a huge fiscal headache for the country. Critics have described public sector pensions as a “Ponzi Scheme”. Although there is no illegal deception involved, the essential elements are there. ...

Will 'Ponzi scheme' blow a multi- trillion-pound hole in Britain's finances?

The public- sector pension “Ponzi scheme” will blow a multi - trillion- pound hole in Britain’s finances, a senior economist has warned. Neil Record, a former Bank of England economist and author, said it was an “absolute scandal” that successive governments had failed to confront the “appalling situation” head on. ...

Are gold-plated pensions a Ponzi scheme?

Gold-plated pensions promised to public sector workers now total nearly £5 trillion. This is almost twice the national debt. Critics call it a Ponzi scheme and this isn’t far off. Legally binding guarantees promised to those who join the schemes decades ago can only be fulfilled if new members (and the taxpayer) keep the money coming in. ...

Are defined benefit schemes a 'Ponzi scheme'?

While defined benefit schemes are the norm in government, they are close to extinction in the private sector as they have become too expensive for employers to maintain. Neil Record, former chairman of the Institute for Economic Affairs think tank, likened the public sector pension system to a “Ponzi scheme”, with taxpayers set to lose out. ...

Are unfunded pensions a Ponzi scheme?

No wonder unfunded pensions are often called a Ponzi scheme. The liabilities could be higher – fortunately, the Treasury, local government workers, MPs and employees of the Bank of England have their pension contributions invested in managed assets such as equities, bonds and infrastructure. ...

Are state and local governments running a Ponzi scheme?

State and local governments are running one of the largest Ponzi schemes in American history. Sorry, the video player failed to load. (Error Code: 100013) They've promised full pensions to their workers. But they aren't putting aside enough money — or generating high enough returns — to fulfill those future obligations. ...