Top Cops and Fat Cats
Sir Paul Stephenson has done the nation a great service.
Not by resigning as Commissioner of the Metropolitan Police - because that was down to his own stupidity and greed.
Much more important is that Britian's former 'top cop' has a perfect example of how 'final salary' pension schemes - represent such a great a rip-off to the public purse.
Sir Paul resigned - before he was pushed in all likelihood - but he will now retire on a salary of £276,000 a year.
Both his pension lump sum and his annual salary in retirement will be based on £276,000 - despite the fact that he was only in the job for two and a half years.
I don't know what Sir Paul earned before he became the Met Commissioner - but let's say it was £176,000 a year - an already inflated salary it seems to me.
But his final salary pension scheme works by pretending that he has actually been earning £276,000 for the whole of his police career - and calculates all his benefits accordingly.
Yet he has been in post for just 30 months - or thereabouts.
Which means that the top cop's pension arrangements - are being hugely subsidised by the taxpayer - and of course by ordinary bobbies on the beat.
Not by resigning as Commissioner of the Metropolitan Police - because that was down to his own stupidity and greed.
Much more important is that Britian's former 'top cop' has a perfect example of how 'final salary' pension schemes - represent such a great a rip-off to the public purse.
Sir Paul resigned - before he was pushed in all likelihood - but he will now retire on a salary of £276,000 a year.
Both his pension lump sum and his annual salary in retirement will be based on £276,000 - despite the fact that he was only in the job for two and a half years.
I don't know what Sir Paul earned before he became the Met Commissioner - but let's say it was £176,000 a year - an already inflated salary it seems to me.
But his final salary pension scheme works by pretending that he has actually been earning £276,000 for the whole of his police career - and calculates all his benefits accordingly.
Yet he has been in post for just 30 months - or thereabouts.
Which means that the top cop's pension arrangements - are being hugely subsidised by the taxpayer - and of course by ordinary bobbies on the beat.
