OUTRAGEOUS: Federal Employees Pensions

[matai]

It was in the news at noon... will try to find a link.. There was a study, comparing the BEST private pension plan VS A federal employee pension plan.

For an employee of 35 years career in the Private sector, his pension savings would be:
600,000$

For an employee of 35 years career in the Federal Government, his pension savings would be:
$1,400,000

A difference of $800,000!!!!

Can you believe it? Who's paying for that? You and I through our taxes!

Do you think Stephen Harper should take action and put a stop to this abomination?

[Captain Awesome]

For an employee of 35 years career in the Federal Government, his pension savings would be:
$1,400,000

Correct me if I'm wrong, but people actually pay into pension funds - part of their paycheck goes towards it.

[matai]

Correct me if I'm wrong, but people actually pay into pension funds - part of their paycheck goes towards it.

Yes that's true. BUT: How much "extra" does the employer kicks in vs the employee?

[steven lloyd]

Pension contributions come from pay and even when matched by the employer is part of the remuneration package. It would definitely be interesting to see which employee types (union, non-union, management and/or bureaucrats) from each group were selected as samples for this study - and who did the study ;o) Up here in the north some heavy equipment operators make $35 to $50 bucks an hour, some rock truck drivers $60 to $80 bucks an hour, and some longshoremen over $90 bucks an hour – and most work for companies that have employer contribution-matched pension plans. I don’t know many public sector employees, provincial or federal, making that type of money. The non-union bureaucrats – now that’s another story.