>> Subsequently of course the world has moved on. Changed accounting standards mean that pension liabilities
>> are much more clearly on the books (arguably swinging to far the other way) and
>> more conservative investment rules together with a 10yr static period in stocks has decimated capital
>> returns.
>>
>> And of course people live longer and, in some cases retire much earlier!!!!!
All of which makes public sector pensions just as unafordable as private sector pensions.
Every private sector company has closed defined benefit pensions to new entrants, and within the next two years every company will have frozen the same for existing members.
There is no reason why public sector pensions should not suffer the same fates.
Last edited by: Zero on Tue 29 Jun 10 at 10:29
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