Of course it is an estimate, I said all along it was. The ONS study is also an
estimate, but a pretty good one. The link sets out the methodology and explains its weakness. How else do you propose to model the issue?
http://www.ons.gov.uk/ons/dcp171776_233736.pdf discusses the methodology and its limits as an estimate.
see p8 onwards of this for another estimate:
http://www.ifs.org.uk/budgets/gb2011/11chap7.pdf there is a good section on the regional disparities (and illustrative of the problem created by national pay bargaining)
What do you want? The Trust Deed and Rules? I linked to the BBC article because it clearly states the funding position for a range of sectors. In post #300 you said that teachers' pensions are not funded out of general taxation, but the BBC link directly contradicts that. As usual you've taken the position that anyone contradicting you must be wrong and so dismissed it. You still haven't demonstrated that there is a relevant trust that manages the liabilities on an actuarial basis.
I've given a
broad overview of the decline of DB schemes in the private sector, as well as the increased risk of the ultimate provision.
The Hutton Report goes into detail about the trends in private sector plans. For example, in 1997, 30% of private sector employees were in a DB scheme. By 2009 that had fallen to 11%. About 67% of private sector employees have no pension of any kind, compared to 16% of public sector employees.
The growth of DC schemes is simply without comparison to DB schemes. Most will offer employer contributions up to a low level (typically up to 5%), in addition to employee contributions. The employee also bears the investment risk as I have stated previously and billions were wiped off DC pension funds in 2008. This directly impacts employees in such schemes by reducing their future benefits. Those in DB schemes i.e. the public sector were entirely insulated from those losses by the taxpayer.
Personally I think it is obvious that public sector pensions are much more generous than the private sector. Even with the changes proposed I still think they are generous. Are you going to say this is all vague and worthless or are you going to offer your own opinion of the fairness of public sector pensions?