Here is The Deal.
Library & Information workers get below average incomes,
but most will get a pension after years of service.
Such pensions are based upon years of hard work on low pay,
and the below average wage which they may be receiving at
the point of retirement.
The deal being that one will put up with such low pay in
exchange for a pension that will lift one above the penury
which is the state pension.
Now some clever investors are claiming that this is an
unreasonable deal for the tax-payer.
Well you can’t have it both ways!
Either you start to pay the real economic worth of library
workers during a working life,
you pay what is not an unreasonable pension.
Though it might also be remembered that:
– All pensions are paid for over a working life time by those
who receive these pensions.
– A pension is a form of savings during ones working life, which is withdrawn in stages after one retires.
So it is not the tax-payer who is funding these pensions,
but the workers themselves.
If anything does need to be done in terms of pension reform,
then it should be the ending the spouse or partners
Such an allowance is a form of Discrimination against single
This would also release a lot of money which could be better
used to make sure that everyone who has a pension might
continue to do so,
and increase the level of pension pay-outs for all.
Enough said …….. We are not all overpaid bankers.