Thursday Jan 05, 201208:14 AM GMT
Few on hefty pensions of over £50k
Sun Nov 27, 2011 2:37PM
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Best-paid workers in Britain's public sector continue to enjoy gold-plated annual incomes of more than £50,000 into their retirement at the expense of their younger colleagues.

Based on newly released figures by the Intergenerational Foundation (IF), more than 100 of such pensioners even earn annual retirement payments of above £100,000.

The figures obtained under Freedom of Information regulations show there is a wide gap between the pensions of the younger public sector employees and the retirement payments to senior workers.

"Younger union members are being encouraged into protecting much more generous pensions than they themselves will get,” Angus Hanton, the co-founder of IF, said.

"Unions have a responsibility to ensure that they protect the rights of all members," Hanton added.

IF said that 12,082 ex-public sector employees are now bagging retirement payments of more than £50,000 a year, among whom, 72 percent are doctors.

This is while just 148 in millions of pensioners get hefty annual retirement benefits of more than £100,000.

The foundation said “British policy-makers have given undue advantages to the older generation at the expense of younger and future generations.”

It called on the government to set up a new funded public sector pension fund to protect the rights of workers.

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