“Former CRC boss got more than €700k pension package from charity fund”*
This has nothing to with theft. This has nothing to do with proper governance. This has nothing to do with private funding versus state funding. This has nothing to do with paying for exceptional talent. This has nothing to with capitalism.
This has to do with rich people looking after those similarly situated. While too many on the left rattled sabres at the richest 1%, quietly the majority of the rich – say, the top 10% of earners – were establishing and maintaining excessive pay, bonus, expenses and pension norms while pretending to be “middle income”** and very likely joining in complaints about the 1% rich. The movement started in private companies and spread to the elite in state employment.
I have argued for a long time that €50k p.a. is an exceedingly good pension and that all public service pensions and pensions in organisations funded or part funded by the state should adopt this figure as the maximum permitted. Some years ago it was objected that a court had decided that a public service pension was a private asset and could not be touched. Public service pensions, however, have since been reduced. That leaves the real objection: Rich people, the top 10% of earners, the ruling class, the elite (Give them whatever title you prefer.) don’t regard €50k p.a. as a great deal of money or as creating sufficient inequality to maintain elite status or lifestyle.
It’s long past time the 80% or 90% of earners insisted on straight talking and a grasp on reality. €50k is a fabulous pension and above that it quickly becomes ridiculous.