For 7 years’ service, council boss gets a whopping £100,000 pension

A council boss who quit after just seven years received a £297,000 lump sum and a guaranteed pension of nearly £100,000 a year.

The massive windfall would pay for 20 teachers in the first year alone, according to councillors.
Peter Gould was only 54 when he left his job as the £215,000 a year chief executive of Northamptonshire County Council.

The case is yet another example of the growing 'apartheid' between retirement packages in the public and private sector.

Experts calculated that a private sector worker would need a pension pot of at least £4.5million to match Mr Gould's £97,000 a year deal. To build that up over just seven years would have meant pumping in around £550,000 a year, beyond the means of anyone apart from the wealthiest.

Mr Gould's generous deal, which was this week drawn to the attention of Gordon Brown in the Commons, comes after it was revealed that a quarter of all council tax is now spent funding town hall pensions.

Read more...