How to match a civil service pension. Clue: it may take you 73 years – The Times

Doctors are working less and GPs are retiring early because of hefty tax charges on their pensions. Private school teachers are striking over fears about losing their retirement schemes. Firefighters are threatening legal action because of changes to their pensions and MPs argue that they need second jobs because they do not earn enough.
Meanwhile the taxpayer bill for all these pension promises, and those in other public sector jobs, has hit £2.4 trillion. All this just six years after the schemes were reformed and made less generous.
Public sector workers get a defined benefit (DB) pension that provides a guaranteed income for life and rises with inflation. They also get death benefits to provide a partial income to their spouse. They once got a
© Times Newspapers Limited 2021.
Registered in England No. 894646. Registered office: 1 London Bridge Street, SE1 9GF.