Reporting from Manchester, Alex Patnick examines the rioting that has broken out in the North West.
By now, you may be bored of reading about the riots but I would like to ‘throw in my two cents’ as the Americans say. This site, and most of the press, has been concentrating on the London riots, but what about the rest of the country? There were riots in Birmingham on the last two nights, Manchester and Salford, West Bromwich and Wolverhampton. Continue reading
Public sector pensions are seen as compensation for a lifetime of hard underpaid, under-appreciated labour.
However, a recent Office for National Statistics (ONS) survey showed that public sector workers retire with pensions worth up to eight times that of their private sector equivalents.The anomaly is the way that pension schemes work in the public sector, which should have been blindingly obvious from the minute they were formulated, are unaffordable.
If you are lucky enough to have accumulated some money in a private pension, the pension company is legally obliged to keep reserves of cash or liquid assets in order to fund these pension schemes. They also invest in a wide portfolio of things which make a return, paying interest on your savings, and increasing the value of your pot, and thus your pension payments. Continue reading