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Pension funds should be equal



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Published Date: 12 November 2008
IT is more than malice which prompts local workers in the private sector to view with growing envy the South Yorkshire pension fund.
As the pot of money which pays the pensions of 35,000 former public sector workers is affected by the every poorer performance of the stock markets, it is becoming abundantly clear that the last people to suffer will be the pensioners themselves.

For their allowances are underwritten by Parliament, which insists that the tax payer (of both council and income types) will make up any shortfall that threatens public pensions.

That is enough to make anyone wince, particularly when private pensions are under great threats from a faltering economy and the Govern-ment's response is unhelpful.

But what makes this a particularly sour pill is the fact that private pensions are under threat in part due to the now infamous cash raid on the funds, carried out by then-Chancellor Gordon Brown.

The time has surely come for all pensions, both private and public, to be treated with equal care and consideration. After all, the financial independence of individuals in old age is an advantage for society as a whole.

Step in optimistic direction for young

LOCALLY-based businesses are the backbone of our communities and the city's young people are their future. So it is encouraging to witness the birth of an initiative which aims to bring the two together and forge a partnership of optimism.

Sheffield First Partnership has invited 350 local firms and community groups and organisations to make a pledge to do something which will help improve the lives of children and young people.

This can be something as basic as helping employees play a bigger and more fulfilling part in the lives of their youngsters.

This project has the hallmark of a huge step in the right direction for creating a rewarding future for our young people and, consequently, the city as a whole. We wish it success.



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The full article contains 380 words and appears in Sheffield Star newspaper.
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  • Last Updated: 12 November 2008 7:55 AM
  • Source: Sheffield Star
  • Location: Sheffield
 
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sheff5lad,

Sheffield 14/11/2008 15:25:12
I envy my unambitious colleagues who left school for a"safe but dull" life in the Town Hall. Now we are 65..Most of them have been retired for years on a pension which my ambition and desires for more excitement failed to provide for.

On reflection, perhaps I wouldnt change my past life for anything!
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