Safe behind their public sector pensions

It is surely unacceptable that MPs and all other public sector workers are totally immune from the problems that have hit the pensions of so many British workers. Perhaps if the MPs had a vested interest in making the pension system work better, we would finally achieve better pension policy for everyone. The MPs final salary scheme at the moment is one of the best pension arrangements in the world. Clearly, MPs may find it hard to understand what it is like for most people in the private sector, who cannot rely on their employer to provide a decent pension and who are on their own trying to plan for their retirement. As most private sector final salary schemes close, there has been talk of switching the MPs to a defined contribution scheme. Allowing MPs to see at first hand just how expensive, risky and difficult it is to provide decent pensions, might well help to ensure better outcomes for us all.


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