Mar 16 2012

Public Sector Pensions in Ireland

Category: EconomyTeknovis @ 19:37

If anybody is wondering why Ireland needs to borrow so much money, then there is a good clue in Keep your pension pot away from the sharks:

THESE ARE good times for more than 7,000 public servants who have just retired on pensions that many in the private sector would die for. Many of the 7,700 public sector (ex) workers have now cleared their mortgages, reared their children and are still relatively young. And as if all that wasn’t good enough, they have also just received six-figure lump sums as part of their pension deals.

Honestly, I think it would be better for Ireland if we could no longer borrow money until we stop spending it so foolishly!