Look Out Public Sector Pensions...........

[ToraToraTora]

https://www.bbc.co.uk/news/articles/cwywvndj3jyo

Robber Reeves has her eye on your £354bn.

[Fatalbertfixer]

Carrying on from where Gorden Brown left.I might have to do a survival course and go live in the woods when I retire.

[Hymie]

My understanding is that those working for the local government (and similar), are on a defined benefit pension scheme – so the taxpayer is on the hook for the difference between what the employee contributes (and any investment gains) and what is paid out to them (ultimately) as a pension.

So unless the government changes the defined benefit pension scheme for local government workers – they have nothing to worry about.

[youngmafbog]

//So unless the government changes the defined benefit pension scheme for local government workers//

But that is exactly what they will do.  But then Brown did it for Private defined Pensions so why shouldnt Robber Reeves to it to the public sector?  

Nasty woman likes taking from pensioners, easy target.

[perseverer]

From the link in the OP

"Like her predecessor, Jeremy Hunt, who also announced plans for a Canadian-style model, Ms Reeves believes consolidation would save money on those costs."

Anyone remember critical posts then?

 

 

[davebro3]

//I might have to do a survival course and go live in the woods when I retire.//

There may not be any woods with Labour's plans to turn green belt into housing estates!

[youngmafbog]

//Anyone remember critical posts then?//

If done properly it could work, but Robber Reeves has shown her true colours and disdain for OAP's so this is mostly likley just going to end up as a money grab.

And that is why.

[New Judge]

A Labour government "investing" Local Authorities' pension funds. What could possibly go wrong?  🤣

[Hymie]

As NJ points out, it’s the (Labour) government deciding where to invest the pension fund money.

If the worst was to come to the worst, and they lost all the money – the taxpayer would have to make good on the workers’ defined benefit pensions.