Reply to post: Re: Corbyn is barking, but ...

Hey, folks. Meet the economics 'genius' behind Jeremy Corbyn

LucreLout Silver badge

Re: Corbyn is barking, but ...

The run-of-the-mill civils pay into their pension, it is contributory

Yes, it is, but their contribution only covers about 10% of their pension costs - the rest of it is topped up by the tax payer. Once you add in spousal payouts etc the cost of public sector pension provision, were you to buy it privately, is just slightly more than 50% of salary. Rather more than any state worker contributes to their scheme, yes.

Thanks to the miracle of economics, the private sector tax payer is actually funding it all anyway, because public sector workers consume tax revenue, they don't generate it.

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