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Re: Unions and pensions.... Posted by pete [Email] (#2000) [Profile/Gallery] (more from pete) on Fri, 4 Jun 2010 21:04:55 In Reply to: Unions and pensions...., Mike Lynch [Profile/Gallery] , Fri, 4 Jun 2010 10:48:54 Members do not see ads below this line. - Help Keep This Site Online - Signup |
My father-in-law received a pension from the Provincial Government for almost 30 years... longer than he actually worked for the Government. Indexed-linked, he had a great retirement never having to worry about inflation. While my wife and I were grateful that he had it, otherwise we would have to support him and my mother-in-law, we also recognised that this kind of pension is unsustainable. I've often wondered how it is that unions were able to negotiate such lucrative benefits; and in the public sector, I suspect that once political leaders gave themselves the benefit, the unions could insist on the same.
It is little wonder that the Germans are now baulking at bailing out Greece, with their low retirement age and generous pension benefits. And in a similar fashion, a few US states find themselves in the same quandry. The Auto manufacturers may find themselves in a similar predicament if they cannot come to some kind of compromise. Only time will tell how it all washes out.
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