1p on income tax for most of us - 2p for the rich - and the deficit more or less disappears. No cuts in services, no need to fork out for benefits, no repossessions. People tighten their belts (but not by an excruciating amount), some grumbling but no riots in the streets. And no need to steal the pensions of public servants.
Imagine this: Imagine saying to your bank ' yeah I know I agreed to pay £400 a month for 25 years, but I find that this is unaffordable. I'm going to pay £200 for 15 years. And oh, there's no guarantee I won't find that unaffordable too in a year or so.' You'd be on the streets, or in jail. And yet this is what the government (and the last one to be fair) feels it has a right to do. If private pensions are so rubbish, then THAT is the scandal, not that public ones are so good. Private companies are more effective at ripping off their employees.
Raise taxes and make private companies provide better pensions... it's another way to go. Not that anyone listens to me or Jim. Despite his 19 letters.