What's the difference between private and public sector pensions?

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A short clip from our "Pension Conundrum" video, exploring the difference between private and public sector pensions
  1. National Institute of Economic and Social Research
  2. pensions
  3. public sector
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Комментарии
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In public sector defined benefits plans state governments can and do fleece the taxpayers to cover any shortfalls on an annual basis. In the private sector they have to make drastic changes or go insolvent such as cutbacks or termination of plans. I have lost two defined benefits plans during to termination during my working career.

glockonr
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As the other person put this is a bit misleading. You shouldn't be making it sound like all private pensions are DC and Public Sector are DB and that it's the main difference. Or at least remind people it may be a majority but not all.. Any pensions can be DB / DC regardless.. And surely its public sector 'CAN be unfunded' and private 'CAN be underfunded'. But not ALL public sector are necessarily unfunded?

Jasonlimitless
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Isn't it a little more complicated than that? Local Government Pensions are public sector but these are paid out of an investment fund (rather than general taxation) run by particular local authorities, e.g. West Yorkshire Pension Fund. Or am I wrong?

swebb
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It's absolutely disgusting how much public sector's pension are

mikee