It was hard to tell the roads from the rivers and drains yesterday. But the frustration and despair etched on residents’ faces told a story of the hardship to come.
You are here
Did Rudy go too far with pensions?
I am in favour of this country rewarding those who have served it during their working lives as well as is possible in their retirement. But, as far as this column is concerned, the new pension arrangements for parliamentarians and judicial officers—that have been the subject of significant debate over the last fortnight—propose changes to the local pension system that are too radical and too rich.
While the amount of additional expenditure on the proposed pensions may not “break” the Treasury, if these bills are accepted without significant amendments, they would provide a dangerous precedent and a benchmark for public-sector unions that definitely would break the Treasury.
Having awarded themselves huge pension increases, what moral authority would the Government in general and the Minister of Finance in particular have to tell the president of the Public Services Association that a public servant after 34 years of service is not entitled to 100 per cent of their final salary as a pension?