Stop Pensions Apartheid!

The British Prime Minister David Cameron refuses the growing calls for former banker James Crosby to give up some of his £20 million pension pot.
But Pro-Gov argues that this kind of intervention - to close the stable door after the horse has bolted, i.e. the pension has been 'awarded' - completely misses the wider point. The pension system in some countries is becoming more and more an Apartheid model where those at the top - largly 'supervised' by incestouns 'independent' boards and sleepy investment institutions - help themselves to extremely generous pensions (and other retirement perks) while the broad mass of their employees have to eke out their retirement on pensions that are relentlessly cut back in the name of 'efficiency'. The only solution are not piece-meal interventions but a root-and-branch reform of executive pay that prevents a dual-track pension apartheid.
(8-April-2013)