«Despite the rabid tabloid headlines that these pensions are «gold plated»,
the average local government pension is just # 4,000 - a-year and over half of female NHS employees can expect an average of # 3,500 - a-year — hardly a fortune after a life time of work.
Not exact matches
The truth is that the
average public sector
pension for women working in
local government (and most such workers are women) is just # 54 a week.
The result is that
local government workers, faced with an
average additional 3 % increase in their contributions which will then yield a much reduced
pensions, are likely to abandon the
local government pension scheme in droves as no longer worthwhile, thus adding to the State's welfare bill in retirement and perhaps collapsing the investment funds which this
pension scheme feeds.
And the TUC says nurses, teachers and
local government employees are now paying more on
average towards their
pensions than they did before reforms.
A national
average of $ 6,800 per year per teacher pays former teachers»
pensions that state and
local governments failed to save up for while those teachers were working.