Keenan: when a pension is not a pension

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As usual a measured article by Brendan Keenan, but looking at the detail, it's explosive,

Further wage cuts look to be only way forward - Analysis, Opinion - Independent.ie

when you're in a hole you stop digging. are zanu-FF and their union bosses insane?

"Public sector pensions, for instance, are not really pensions at all, but half-pay for life, paid for in just the same way as salaries during working years.

Even the tax-free lump sum available to retirees becomes, on closer inspection, an additional payment for government workers, but a deduction from their pension for private sector employees.

With pay, the hidden public sector gem is 'increments' -- the payment of guaranteed increases according to length of service.

These would announce proudly that all workers would get, say, a 3.5pc national increase. But this did not include increments, so public- sector workers actually got more than 3.5pc.

"Of course, government workers' incomes have fallen, with the increase in their pension levies. But that will not show up as lower earnings nor, more importantly for those involved, will it mean smaller pensions."

[birthday]

There is a link to this article about the 'white' lies from ICTU underlying the so-called social partnership which are also worth considering.