In public sector schemes, you can buy 'added years', which are fully inflation proofed.

Firstly, not every public sector pension scheme is in deficit.

PhilHealth is responsible for oversight and administration of public sector insurance schemes.

Thirdly, it is less likely to run out of funding than public sector schemes.

There have been significant reforms to public sector pension schemes over the last decade.

So the total cost of providing Tom's benefits under the reformed public sector schemes would be between three and four times that amount.

So it's the highest paid who do best out of public sector pension schemes?

Is it worth dropping out of your public sector pension scheme to avoid the increased contributions?

The liabilities of public sector schemes are estimated to be between £770bn and £1.18bn.

Netherlands: Private and public sector schemes are similar, each with defined benefits.