How 'Ponzi scheme' public sector pensions threaten to bankrupt …

Jul 18, 2024 · Around 30.8 million taxpayers won’t get a public sector pension, but now fund 5.4 million of them. A further 6.6 million public sector workers are building up benefits – meaning around 85pc of ...

CouponFollow Extension

£50
OFF

The Public Sector Pensions Ponzi Scheme Is An Insult To Taxpayers

2 days from now

Jul 19, 2024 · The inequity of this £50bn-a-year system will bankrupt Britain. Jump to content. UK News Website of the Year 2024. News ... The sheer cost of the public sector pensions is one …

telegraph.co.uk

£57
OFF

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

2 days from now

Oct 26, 2021 · The difference between the discretionary and official costs is huge. By way of example, for the NHS Pension Fund, in 2020-21 the discretionary pension cost as a …

iea.org.uk

£17
OFF

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

2 days from now

“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 met by taxpayers.

ft.com

£100
OFF

10 Pensions Scandals: The Ghosts Of Past, Present And Future

2 days from now

Dec 13, 2010 · Calculations since then suggest the policy, unveiled in Brown’s first budget, cost Britain's pension savers at least £100 billion and many say the move killed off defined benefit …

citywire.com

FAQs about How 'Ponzi scheme' public sector pensions threaten to bankrupt … Coupon?

Is government misleading parliament over the cost of public sector pensions?

The government is misrepresenting the cost of public sector pensions to Parliament and the public. Instead of disclosing the official cost, they only report the discretionary cost, which is significantly lower. ...

Are public sector pensions still unfunded?

However, a major review of public sector pensions by Lord Hutton more than a decade ago concluded that the major schemes should remain unfunded and this is still Treasury policy today. The size of the pensions offered to public sector workers is also controversial. ...

Are public sector pensions a debt?

This includes pension liabilities to public sector workers as well as state pension liabilities which are excluded from official figures. Public sector pensions alone represent a debt of £1,261 billion, or 85% of GDP. The report undermines the position that the government can afford to borrow more because its finances are healthy. ...

How much do public sector pensions impose on the government?

Economists have, over the years, calculated the size of the obligation these public sector pensions impose on the Government; the latest (2022) official figure is £2,600bn. Neither politicians nor the electorate have been able to wrestle these huge figures into perspective, and so both have been happy to let sleeping dogs lie. ...

How many people get a pension?

The civil service gives employees 28.97pc. Another concern is over how many people receive these pensions compared to who pays for them. There are around six million public sector workers and 82pc have a final salary pension. In the private sector, it’s just 7pc. ...

Could public employee pension contributions boost investment in the UK?

In a new report, I argue that investing public employee pension contributions in assets could boost investment in the UK and generate for the exchequer tens or even hundreds of billions in fiscal savings. Such a radical transition has precedent. ...