We have of late been bombarded with information about teachers pensions. About how it cannot continue as before. I must say I have to agree.
Since 1923 46.4 billion more has been paid in to the TPS than has ever been paid out. To my way of thinking the government are making a pretty hefty profit out of the teachers and they should be grateful that their ‘creative’ accounting hasn’t been called in to question.
If the government were to give back the 46.4 bn then the teachers could pay themselves whatever pension they wanted and it would have no effect on the economy, local or national.
"There is no £46.4 billion to hand. The fact is, however, that the Government has accepted a long series of cheap loans from teachers’ pension contributions before complaining about paying the pensions promised in return."
So in fact the government is reneging on past agreements. No changes there then!