Should Detroit's pension problems be a warning to the UK?

Michelle McGagh
Stars and stripes
Stars and stripes

The bankruptcy of the city of Detroit is a scandal that has been largely caused by its huge pension debts, but every time I read about it I can't help but draw comparisons with the UK public sector pension scheme.

There will be lots of people that disagree with me and of course it's not directly comparable. Detroit filed for bankruptcy last month after realising that it could no longer shoulder its debt.