Quote:
Originally Posted by CFO
One thing needs to be taken into consideration is anyone with a future sizable pension cannot be peered against higher paying private sector.
A $60k annual pension is similar to having saved around $2mm after tax dollars for retirement. I don't believe teachers are contributing that amount.
I'm all about reasonable pay. But the big incentive is retirement years.
Plus I hate screwed facts on both sides. Class sizes are all over the place. Both my kids class sizes over last 6 years have always been low 20s in size.
|
You too could have a similar pension plan to a teacher if you saved over 20% of your salary each year. The government does give them a 9.5% contribution which is much better than the private sector generally but it’s not obscene like people make it out to be. Teachers contribute about 10.5%
https://teachers.ab.ca/news/teacher-...-rates-lowered
20k per year with an average historical return of 7% after inflation for 30 years from 25-55 would score you 2 million dollars.
The reason teachers have good pensions is they are forced to save.