Pension gap in UK huge

Fri, 05 Dec 2008

According to recent reports in the pension news, the pensions gap in the UK is huge and growing. Pensions in the private sector are becoming more and more rare, despite public-sector pensions being more lucrative than ever.

David Cameron went so far as to call it ‘apartheid’ whilst Paul Farrow of the Telegraph was reported as commenting: "the pension playing field is decidedly lopsided."

Pensions in the public sector are considerably more generous than those in the private sector in most cases. Over 17,000 public sector workers have already retired with pension pots capping £1 million, whilst even average beneficiaries receive a good pension . Independent pensions consultant Dr. Ros Altmann claimed that even average public-sector workers would retire with pension schemes worth £17,091 per annum.
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