Set example on pensions

Published on Tuesday 27 May 2008 22:41

As the dust settles after the Grangemouth refinery dispute, three things are clear: the staff appear to have a very good salary, which I trust is entirely compatible with their technical expertise; they appear to have a very good pension scheme, which, if that is what their contract of employment stated, the current staff are justified to retain; and final-salary pension schemes are very expensive and cannot be afforded in the future.

With the government encouraging the public to take responsibility for their retirement by investing in a private pension scheme, wouldn't it be wonderful if politicians gave the electorate an example and voluntarily closed their state-funded pension schemes and took out individual private pensions. I am sure an independent salary review body would willingly recommend a 10 per cent salary rise to assist with their pension premiums, to avoid the taxpayer financing politicians' retirement lifestyle.

I trust people do not enter politics for the sake of a final-salary pension, though it does appear the trade unionists appear to think future employees at Grangemouth will have their pensions in mind when they start their careers.

JAMES GOLDIE

Bonaly Crescent

Edinburgh