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This is straight forward PLUNDER, reductive comments from the PLUNDERERS, long serving high paid politicians, trade unionists whose pay mimics it and members of State agency quangos, is self serving horseshit
This is THE single biggest asset they own https://www.irishtimes.com/news/politics/bill-for-public-sector-pensions-surges-to-150bn-1.4437809?mode=amp
This is THE single biggest asset they own https://www.irishtimes.com/news/politics/bill-for-public-sector-pensions-surges-to-150bn-1.4437809?mode=amp
Been warning for two decades about the massive transfer of wealth from the private sector, like playing handball against a haystack defended by Deep State outer defences, RTE and Academia in the same trough.
Bill leapt 6 fold since Benchmarking scam, many times pay rises
Bill leapt 6 fold since Benchmarking scam, many times pay rises
Latest leap 31.5% over 3 yrs. Think of the National Children's Hospital. No one gives a fcukin toss. Its only taxpayers money, lots more where it came from, anyway think of the hospital sure its great.
€150bn thats 150,000,000,000 thats average of €319,000 each. Get it?
€150bn thats 150,000,000,000 thats average of €319,000 each. Get it?
Propaganda about levies and contributions can be parked aside as utter tosh. The levy is a tiny fraction of the plunder, the contributions fully offset by pay premiums over private sector and by pay increases.
Its a runaway plunder train over 20 years.
Its a runaway plunder train over 20 years.
RTE pension expose led by George Lee laughably tip toed past the Plunder Train and focused taxpayers resources on private sector product costs.
Not a cent paid to highlight the €150bn
Not a cent paid to highlight the €150bn
Less than 8% of private workers have guaranteed pensions, 100% of Public Sector do, where pay despite the guaranteed employment terms is higher and accountability namely demotion or job loss is lower.
Over half private workers have no pension savings, the rest not enough, a tiny fraction of the economic value of unfunded PS pensions.
It is why I've said best pension plan; marry a high paid PS worker in your late 50's one with impaired mortality, for highest return.
It is why I've said best pension plan; marry a high paid PS worker in your late 50's one with impaired mortality, for highest return.
Not a single politician will take this on, instead we will be feed horseshit about demographics, that all will be well, the fairy godmother of time and taxes will smooth it out.
It won't, what part of €150 billion over three hundred grand each is confusing?
It won't, what part of €150 billion over three hundred grand each is confusing?
The solution is a common universal pension scheme that makes no distinction between private and public, one properly funded by all including employers.
Instead the latest Dept Finance manoeuvre is to render private sector pensions even more costly by drowning it in more rules
Instead the latest Dept Finance manoeuvre is to render private sector pensions even more costly by drowning it in more rules
Not a fcukin word about the €150bn on its doorstep cos, hey we all have one and officer class share of the plunder runs into millions each.
Even managed to enhance going early and dodge tax on very high pensions by jimmying the formula. Easy see, when you write the rules.
Even managed to enhance going early and dodge tax on very high pensions by jimmying the formula. Easy see, when you write the rules.
A big bang needed on pensions, a universal worker scheme, but begin by decapitation of the €150n limit guaranteed unfunded taxpayer paid PS pensions to no more than the average wage.
That is still 3 x Old Age Pensions.
Claim public interest superiority over property rights
That is still 3 x Old Age Pensions.
Claim public interest superiority over property rights
Will that happen? Will it what! Here's what will happen today, nothing. My phone won't ring from RTE news or current affairs, hasn't rung since Rip Off Republic 15 years ago.
@rte will wheel out Deep State apologists and diminish the €150bn to a matter of little consequence
@rte will wheel out Deep State apologists and diminish the €150bn to a matter of little consequence
See this isn't economics, its a game of propaganda, always was once Berties Benchmarking aligned all the PS players including Trade Union chiefs incentivising them to plunder and giving a free pass, because sure we are all at it
You won't hear a damn thing about the distribution of this €150,000,000,000 in reports about Irish wealth or wealth tax. Proof is write large entirely absent in SF policy and in Central Bank report on wealth, despite its economic resources, its entirely silent on this wealth
Want to understand scale and see past the reductive propaganda that will accompany this report?
The €150bn, the present value in todays money of the cash flows out is the same as building the most expensive childrens hospital in the world in Ireland every year for 75yrs!
The €150bn, the present value in todays money of the cash flows out is the same as building the most expensive childrens hospital in the world in Ireland every year for 75yrs!
Next time you here a politician bleating about funding, point to 75 Childrens Hospitals in their public sector contracts. FFS
