Friday, 4 November 2011

Strike action to go ahead

Good.  I don't think the government should have made the pension offer any better, and now that they're striking they'll have to remove the improved offer.  That's what they said they'd do, anyway.  Of course, these people being politicians, there's no telling whether or not they have the guts to stick with it...

Let's face it, Final Salary pension schemes are expensive.  The government has no money (borrowing about £0.5bn a day)so it needs to cut costs.  The fact that most of the private sector got rid of final salary pension schemes already isn't really anything to do with it (although it's a helpful guide as to best practise).

I reckon if the govt really wanted to stop the strikes, they'd just have to say that anyone who strikes will not have access to any future final salary option, but would move to DC instead, as most of the private sector has.

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