State staff 'need' a private pension.
Byline: ALAN SELBY
YOUNG workers in the public sector are being warned to pay into private pensions as well to ensure they are not skint in old age.
Box Pensions, which aims a scheme at younger staff, said it is naive for them to think they will get the retirement packages older colleagues currently enjoy.
Owner Chris Benarr, 36, said: "Public sector pensions are simply unaffordable and unrealistic.
"Eventually a Government is going to have to grasp the nettle and these pensions will be cut in the way final salary pensions disappeared in the private sector. People in the public sector have to start investing in private funds. We need to wake up to what's happening."
Mr Benarr wants workers to become more engaged with pension planning.
He added: "In Australia people talk openly about their retirement plan over the garden fence. We need this sort of culture over here."
CASH ALERT Chris Benarr