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<<<< but it's actually grown faster in retirement than the public sector one despite vagaries and vicissitude>>>.
I don't understand that....the growth of one's pension depends upon the conditions of the pension plan both public and private.
Let us take a private sector worker who is retiring in 2000 and has amassed a pot of £500,000, this would give him a pension of £50,000 a year. In1996..Gordon Brown creamed the top of and left him overnight with a pot of £400,000 which would have given him a pension of £40,000 a year. Then the annuity rates started to fall due to world recession and other factors and that due to the fall in annuity rates That £400,00 would buy a pension of £20,000 a year.
Now I started with a "promise" of £50, 000 a year pension and have been left with a pension of £20,000 a year......during which time i, with my taxes, have supported the public sector pension.
So I ask......how has private sector pensions fared better than public sector pensions?