Local Government Pensions to lose shine
26-08-09
At last, the Government is seemingly seriously reviewing local government and civil servant pension schemes and in all probability make them not final salary schemes but “average” salary pensions – YES!! Finally, Wilt can look forward to a lower tax bill. See the article here:
http://www.timesonline.co.uk/tol/money/pensions/article6810021.ece
It is predicted that local authority staff will take strike action. Um, OK! So what? Will it make any difference? Nope! Do we care? Nope.
Of course the next move will be to reduce salaries in local government – YES I did say reduce. That probably will never happen but Wilt predicts rises in salary will be in real terms nil or even reduced after taking into account inflation.
Then finally, local government service conditions will be reviewed and the stupid sickness leave and annual leave (and numerous other leave entitlements) will be curtailed.
Every major economic downturn has its silver lining – in this case putting public servants into perspective in terms of economic reality.
So, go on strike, Dorks. All the more money saved in tax, and less in your pockets. Excellent!
Wilt (happy at this news)