Re: Final salary pensions
I came across my first job contract the other day, it included a defined benefits scheme based on 1/80 of final salary per year of service. If I had that in my current job, 15 years so far, then comparing to the latest forecast from my pension supplier an annuity-based pension would be 2.5x as much, and the overall value would be nearly 400K higher. So, not totally impressed by your argument.
Note that PFI was a Conservative invention, adopted enthusiastically by Labour, then by the coalitions, and now by the Conservatives again. All of the parties involved get their "free" financial advice from a group of accountancy companies who sell consultancy on how to set up PFI contracts, how to sell them on to maximise profits, and how to get out of them.