The British government is preparing to open the Pandora's box of public sector pensions by forcing five million teachers, police, fire-fighters and town hall staff to contribute up to two thirds more to fund their final-salary pensions.
According to a story in The Times, public sector staff will also lose generous benefits for early retirement due to ill health which are intended to stop staff retiring early if they are still fit to work in some capacity
The changes, which vary between departments and will be introduced between 2008 and 2013, are based on government plans to raise the public sector retirement age from 60 to 65. They are aimed at reducing the rising costs of pensions as workers live longer and at ensuring that people do not abuse sickness benefits.Pete's Points
Let's hope that the Australian Government will NOT take a lesson from the books of a Labour government.
If there is anything to the oft repeated exhortation to workers about balancing work and family responsibilities, then there should also be something about being able to enjoy retirement while you are physically capable of doing so, rather than being worked into the ground.
I think the sign on a motor home seen recently on trip to Queensland says it more eloquently than I ever could.
BUGGA WORK!
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