Cameron spells out Pensions arguments
Hat tip to Conservative Home for this summary of the three arguments David Cameron put to the Local Government Association on public sector pensions. Argument one: We can't afford to go on like this "In the 1970s, when a civil servant say retired at sixty, they could expect to claim a pension for around twenty years. Today, when they retire at sixty, they can expect to claim a pension for nearly thirty years – about a fifty percent increase on before. Now, obviously, more people living for longer is a great development for society. But more people claiming their pension for longer has a real life impact on our ability to pay for pensions. Indeed, we are already seeing the impact. In 2009, total payments to public service pensioners and their dependents were almost £32 billion – an increase of a third, even after allowing for inflation, compared to 1999." Argument two: The balance between pensions in the public sector and those of the taxpayers who pay for them is not righ...