A Bermuda Government pension is based on the civil servant’s salary at the time of retirement and has nothing to do with contributions.

The old theory was that civil servants took lower salaries in return for better pensions. Today’s theory seems to be that civil servants should earn the same as private sector employees and still have a pension that is based on final salary, not contribution.

1) Private sector salaries are not in jobs for life. If the company is bought , merges with another or goes through efficiency measures, then you are out of work. So there is a risk premium vs public sector.

2) Not all Private sector jobs are international business. There are local companies and businesses too, People tend to focus on the international business.

3) International business senior management and group companies are responsibilities for a global enterprise, the Public sector is responsibilities for local only, so again, greater responsibilities, hence remuneration differences.

4) Government is not for profit, if you want to begin making it wholly accountable, and eliminate union restrictions on staff being let go, then sure I could see an argument on increasing salaries some.

5) Management and leadership within the civil service should be appointed/elected by all residents in Bermuda, that includes PRC holders. this needs to be added to the general election ticket.

I agree. I have been concerned about the inability to the superannuation fund to meet the pension obligations of retired civil servants since the 1990s. In addition to nearly $4 BILLION in current debt, we have BILLIONS more in unfunded pension liabilities that no one is even talking about, much less addressing.