Let’s vote on those State pension deals

Even if we ignore all the public/private sector squabbling, we can’t afford to ignore the very real and looming pension time bomb.

A while ago the government of the day had the cheek to force companies to record their pension liability in their annual accounts while their own pension liability does not appear anywhere in GDP etc. Perhaps the one good thing that government did with some boom money was set up the pension reserve fund, but that has now been reduced to levels nowhere near sufficient for its original purpose.

The bottom line is simply the State can’t afford to have some of the best pensioned politicians and top civil service in Europe. The maximum State liability for any one person should be the total of the State pension plus the average industrial wage.