Exactly. And boomers like me (b 1955) have paid very large chunks of our salary all our working lives for said pension. Not to mention our employers' contributions. Meanwhile, back in the 70s and 80s, many private-sector employers had very low contributions as part of their package. My husband worked at the research base for The World's Currently Most Notorious Oil Company for eleven years - a totally non-contributory pension, final-salary, to boot. For his eleven years of work he will get, when he chooses to take it, slightly over half of what I will get for my 33.
But I'm the "cushioned" one. (And I've been in private schools since 1982, so it's not even come from local taxes.) And they won't see any problem in monkeying about with the pension fund we don't actually have because They have already spent it.
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Date: 2010-06-21 03:25 pm (UTC)Exactly. And boomers like me (b 1955) have paid very large chunks of our salary all our working lives for said pension. Not to mention our employers' contributions. Meanwhile, back in the 70s and 80s, many private-sector employers had very low contributions as part of their package. My husband worked at the research base for The World's Currently Most Notorious Oil Company for eleven years - a totally non-contributory pension, final-salary, to boot. For his eleven years of work he will get, when he chooses to take it, slightly over half of what I will get for my 33.
But I'm the "cushioned" one. (And I've been in private schools since 1982, so it's not even come from local taxes.) And they won't see any problem in monkeying about with the pension fund we don't actually have because They have already spent it.