The TPA writes:
In earlier research, the TPA has revealed that, despite taxpayers paying for massive employer contributions equivalent to £1 for every £5 raised in council tax, there is a huge £54 billion black hole in council pension schemes. There is a real risk that the cost of closing that gap will fall on taxpayers particularly because, in an ageing society, there are more and more pensioners for the active members of the schemes to support.
New TPA research this week showed that in 2010-11 there were fewer than 1.6 active members of local government pension schemes for every one drawing a pension. Five years earlier there were nearly 1.9 active members for every one drawing a pension and in the wider UK economy there are 3.2 people of working age for each person of State Pension Age or over. To find out how dangerous your council’s pensions time bomb is, you can enter your postcode on our new pensions web tool.
There needs to be continuing reform to the Local Government Pension Scheme if we are going to avoid a serious liability for taxpayers.
Fine, there well might be that need but the problem is the overall numbers. Taxpayer numbers are falling due to:
1. Govt incompetence/ideological policy causing businesses to fail and unemployment to soar;
2. Sheer demographic shifts.
Pensioner numbers increase due to:
1. Sheer demographic shifts.
There are a few ways to tackle this:
1. Gen X reneges on the social contract which has always seen the working generation support the older and the children;
2. Govt taps into that feeling and reneges for them, failing to honour written agreements, as Yeltsin did;
3. Govt gets into extrinsics e.g. contrived financial crises, war etc. to get them off the hook and depopulate;
4. Govt. enslaves the older members of the society, tips them out of work, to be replaced by box ticking newly qualifieds with no education, thus keeping the older population at subsistence level.
This is not a time to be:
1. Getting older;
2. Out of work or approaching retirement;
4. Capable of thinking for yourself;
5. Expecting any sort of integrity from other demographics and especially from govt.
If you look at how children are treated in this society, why would those getting older expect any better from those dealing with them?