Sir Fred Goodwin has 650k p.a. pension for the rest of his life

[expat]

The public sector liabilities that the taxpayer must fund now stands at 1 trillion pounds.... 1,000,000,000,000 pounds.

And the "average Joe working for the council" has been paying his money into a pension fund for his working life, for his funded pension.

[Mich the Tester]

The liabilities for the taxpayer are 1 tragicillion pounds largely thanks to prats like Goodwin who drove the banks to the point where the state saw no option but to nationalise them.

Yes, Gordon's a prat too, for spending too much in the good times, but that doesn't exonerate crooks like Goodwin.

[Old Greg]

The liabilities for the taxpayer are 1 tragicillion pounds largely thanks to prats like Goodwin who drove the banks to the point where the state saw no option but to nationalise them.

Yes, Gordon's a prat too, for spending too much in the good times, but that doesn't exonerate crooks like Goodwin.

The problem with NL is that they fawned over the twunts who have been destroying our society.

Goodwin is one of the twunts who have been destroying our society.

[Mich the Tester]

The problem with NL is that they fawned over the twunts who have been destroying our society.

Goodwin is one of the twunts who have been destroying our society.

Yep. I think that NuLiebour got a bit obsessed with being 'business friendly' to the point they thought anyone with a suit, a MBA and a big gob was a clever businessman doing great stuff for the economy. Lacking business experience themselves, NuLiebour were unable to distinguish the quacks in suits from real businesspeople who contribute to the economy by adding value and building solid businesses.

[EternalOptimist]

Yep. I think that NuLiebour got a bit obsessed with being 'business friendly' to the point they thought anyone with a suit, a MBA and a big gob was a clever businessman doing great stuff for the economy. Lacking business experience themselves, NuLiebour were unable to distinguish the quacks in suits from real businesspeople who contribute to the economy by adding value and building solid businesses.

yes, NL certainly screwed up when they headhunted, interviewed, offered a job then agreed to contract Sir Fred.

[Mich the Tester]

yes, NL certainly screwed up when they headhunted, interviewed, offered a job then agreed to contract Sir Fred.

Sir James Crosby

[Cyberman]

And the "average Joe working for the council" has been paying his money into a pension fund for his working life, for his funded pension.

... and the council-tax payer is also funding these pensions by virtue of 25% of his council-tax. Public sector pensions are unsustainable, and this is proven by the fact that most private sector salary-linked pensions are now closed to new members, and they have to retire at 65 as opposed to 60 in the public sector.

[expat]

... and the council-tax payer is also funding these pensions by virtue of 25% of his council-tax.

No, you're wrong. Council pensions are mostly fully funded.

[Cyberman]

No, you're wrong. Council pensions are mostly fully funded.

Expat, there is a whacking great big black hole in all pension funds thanks to Broons stealth tax since 1997. There is no way that council-tax pensions are fully-funded, otherwise we would not have seen mass closures of private sector funds which have always been funded on a similar basis, by company and employee contributions. Even the Post Office is now being sold off to fund a 9 Billion pound shortfall in its pension fund.

It is clear that public sector pensions are therefore unsustainable.

[Cyberman]

I would add though that if you mean that council-pensions are currently fully-funded due to the 25% of council tax paid in every year, this could be true, but in the future this is unsustainable because a greater proportion of council tax will be used each year to this end. There will come a point where council-taxpayers will rebel, especially pensioners on fixed incomes.