Public pension is key issue
Published 07/08/2011 | 05:00
Sir -- Anything that brings attention to the obscene levels of public sector pay is useful.
It would be even more useful if it was pointed out that the comparison does not take into account the 1.5-times-salary tax-free retirement lump sum.
Even the appalling benchmarking body, which did not take the gold-plated pensions into account when comparing private and public sector pay, has admitted that these benefits are equal to 20--25 per cent of salary. The ESRI has stated that the unfunded pension is worth over 20 per cent of salary.