UK strikes. Another winter of discontent? Damp Squid says PM :)

Wouldn't dream of having a go at you Steve ....

However, I think Maggie took us down the wrong turning in 1979 (by and large) and no government since has tried to repair the economic and social damage she did.

Maggie set up the long term destruction of the value of the state pension scheme(s). The continuing decline in the state pension makes the employer-supported pension (if you have one and if it's a decent and secure scheme) even more critical to everyone of working age.

The public sector pension scheme has been both decent and secure; it's also actuarially affordable.

Stupidly, governments have also allowed employer-supported pensions in the private sector to decline.

Private pensions are costly and will cover only a very small minority of those who can expect to need support in their old age. thumbsdown

Huge numbers (perhaps the majority of UK citizens) face poverty in their old age. They'll be claiming benefits but benefit levels aren't high enough to meet their basic bills.

I want those striking to protect their public pensions to win, in their interests and mine.

If they win, it'll put a little more pressure on private sector employers to keep on funding their pension schemes and maybe even improve them.

It'll reduce - directly and indirectly - the future numbers reliant on taxpayer-funded means tested benefits.

It'll increase the spending power of the OAP part of the lower income bracket, resulting in more sales to local businesses and a more stable national economy.

So how do I end this diatribe? Should I shout "Power to the people" or "Everybody out!"?????????

lol I'm only partially Thatcherite...

Unfortunately decades of poor planning from progressive goverments and an ever increasing dependence culture on benefits has bled the country dry

Sounds great, but do you think that's a realistic scenario? Me and you are small business owners, so that makes us private sector employers, so should we bear the burden on pension schemes? If it's capped per number of employees, then you end up with companies not wanting to recruit.

In the mean time how does UK PLC fund the current pension schemes if there are no reforms? Forget Greece and Spain, we're broke

But can see both sides, as the wifes pension is under threat, but being public sector, she can't strike as she's currently on a second bout of 12 months maternity leave which was very generous, and makes my toes curl if we had to provide the same generous package in the private sector!

Not really ... I think the cheapest and safest way to provide adequate pensions for all is to go for a relatively high state pension (funded by taxing employee and employer according to ability to pay). This approach stops us wasting money on expensive private pensions and is the best protection we have against fraud (remember Maxwell?) and other corporate disasters affecting retirement income.

I want a political about-turn on pensions (and almost certainly won't get it!).




I see things differently. I feel our governments have been mainly regressive (not progressive) but above all, they haven't been competent. Governments have presided over a continuing slide in the country's ability to earn its living in a global world and in the life chances of UK middle-income and low-income citizens. They've wasted money hand over fist. thumbsdownthumbsdown