There's a frequent complaint that public sector pensions are much more generous than private sector pensions & this is iniquitous for tax payers.

But much of the difference (which has declined recently) is down to the higher levels of contribution paid in by both employees & employers.

So, actually the problem of low private sector pensions is more about low pay (making higher contributions impossible) & stingy employers rather than over-generous public pensions!

#pensions #workers
h/t FT

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