Pension facts – not fiction
11:01am Thursday 17th November 2011 in Comment
WE hear a lot about the “gold plated pensions” of public sector workers, but what are the facts?
Mick Davis, the head of mining company Xstrata, receives annual pay of £18 million per year.
He doesn’t pay anything into an occupational pension scheme, yet his estimated pension amounts to a staggering £2 million per year.
An average civil service worker, who earns £17,000 per year, may have to pay an extra £240 per year into their pension scheme and may have to wait until they are 68 before they can retire.
Average civil service pensions are a meagre £4,000 per year. As public sector workers prepare to strike on November 30, it is important that readers know the facts, not the fiction.
Cecilia Costello Convenor Corporate Resources Unison Bolton
