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<blockquote data-quote="Mr Radish" data-source="post: 831613" data-attributes="member: 7342"><p>I have sympathy with anyone who is seeing their pension cut be it Private or Public sector workers.</p><p></p><p>However, there are just some in-escapable facts that we all have to accept.</p><p></p><p>The population is aging due to people living longer, but compounded by a falling birth rate by past standards.</p><p></p><p>This means less people in work paying tax, paying for more people claiming a pension and for an extra 10 -15 years than expected! The sums do not add up and it has to change. We may not like it, but there you have it.</p><p></p><p></p><p>I work in the private sector and have had a pay freeze, seen the contribution from my salary for my pension rise by 3% and will now have to work an extra 4 years to get what I would have done before. I don't like it, but I accept that without the changes, the pension scheme would fail everyone. Our final salary scheme closed to new employees 9 years ago.</p><p></p><p>There are millions of people who don't have a pension at all.</p><p></p><p>World economics are also in turmoil right now and this combined with population demograhics means that pensions must adapt to a new future.</p><p></p><p>Nobody likes it, but that's just how it is. Any government would have to make changes.</p></blockquote><p></p>
[QUOTE="Mr Radish, post: 831613, member: 7342"] I have sympathy with anyone who is seeing their pension cut be it Private or Public sector workers. However, there are just some in-escapable facts that we all have to accept. The population is aging due to people living longer, but compounded by a falling birth rate by past standards. This means less people in work paying tax, paying for more people claiming a pension and for an extra 10 -15 years than expected! The sums do not add up and it has to change. We may not like it, but there you have it. I work in the private sector and have had a pay freeze, seen the contribution from my salary for my pension rise by 3% and will now have to work an extra 4 years to get what I would have done before. I don't like it, but I accept that without the changes, the pension scheme would fail everyone. Our final salary scheme closed to new employees 9 years ago. There are millions of people who don't have a pension at all. World economics are also in turmoil right now and this combined with population demograhics means that pensions must adapt to a new future. Nobody likes it, but that's just how it is. Any government would have to make changes. [/QUOTE]
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