OllyK

Or they've caved in to the Unions again. This is going to get so interesting when they run out of money to fund all the extra public sector workers they have taken on - winter of discontent anyone?

Unlike the private sector whose pension Gordon Brown had no such qualms about raping.

http://news.bbc.co.uk/1/hi/business/4353444.stm

ChrisB

Looks lik my misses (NHS) will be getting the beer in once we retire then!

OllyK

Until another government comes along and changes it all again. Need somebody to plunder the public sector pot to repay what has been taken from the private. Think we can start by cutting MP's salaries and axing the PM's pension for life.

alcazar

iTrader: (2)

That would be really funny, wouldn't it

Don't bank on anyone being able to plunder the teachers' pension fund..........the Tories (I think) took the lot YEARS ago. Now it exists in their minds only, and they ALWAYS under value it by about 50%

Alcazar

Luminous

iTrader: (3)

I like it how the unions caved in and decided to **** any new members

Just made sure that they were all ok themselves...

OllyK

Depends on your POV.

Firstly you could be a public sector worker and NOT in the Union and this will still affect you. So the Unions have actually conceeded that anybody new will have to work a bit longer, much like private sector workers are likely too.

Secondly Private sector workers unfortunately haven't been given the comfort of being OK if they are already in the system, they've just been shafted and striking isn't going to hurt the people that fckued them either - nice work if you can get it!

alcazar

iTrader: (2)

Yep, it totally amazes me that Lying Labour appointed the Blind B8stard to be Pensions Minister to oversee the crisis..............after they stole £8 billion a year from pension funds for the last 5 years, thereby at least helping to create the crisis.
B*stards.

Alcazar

dasher

I work for a Local Authority and they're going through changing our pension aswell.
One of the things they want is to increase our contribution from 6% to 7%, which i wouldn't mind so much if it wasn't partly the employers fault we're in this mess by going on a pension holiday in the 90's.

But do you think they'd offer to increase their contributions instead? No obviously not. They'd just say they have to increase the council tax, which would makes the public hate us even more.

Regards, Daz

dsmith

Ahhhh 7%. I feel for you.

pslewis

As usual - you are talking out of your rear end!!

New members have the OPTION to go at 60 if they wish!!

Remember that those in the Public Sector don't get BUPA, Cars or Bonuses - unlike those in the Private Sector!!

All they have is a decent Pension scheme ...... why should the rules of the game change once you have kicked-off???

Pete

dasher

Why, what percentage does everyone else pay? Remember i'm on low council wages with crap pay rises.

I'm a civil engineer and could get more in the private sector, but i join a local authority from leaving school at 16 for the other benefits (job security, guaranteed local travelling, good pension, no ar@e licking to progress), but this has all but disappeared (except local travelling). I fully expect to be outsourced/TUPEd/privatised within 2 years.

Regards, Daz

Leslie

What happens to their pension if they go at 60 PSL?

Les

Petem95

I dont even have a pension

Younger generation are screwed - they leave uni with massive debts to pay off - 20k average I think (as government wont pay for a full education anymore), struggle to run a car with insurance premiums and fuel being what they are, then with whats left over you can either put some into a pension OR take out a crazy interest only self-cert mortgage and buy a tiny pokey property with

alcazar

iTrader: (2)

Yeah........and successive governemnts have caused THAT problem too, getting kids off the dole queue and not providing work-based training or apprenticeships, and encouraging FAR too many kids to go to uni.

Now thet chickens come home to roost, and they can't afford to pay for them to go, so what do they do????

Labour B*stards, Tory t*ssers!

Alcazar

Jamescsti

I have to say i'm a civil serveant, and will retire at 55,
However I have no christmas/ annual bonuses,
No company car scheme etc, and make large personal contributions to retire early,

People should not just believe what the media want to tell them all the time

Oh and I have worked in the private sector also and have had a pension since 18

Leslie

Can't you answer the question PSL?

Les

dasher

What do you mean?

Our yearly pension is worked on 1/80th per year of service up to a maximum of 40/80ths (i.e. half pay). So if at 60 you have 40 years service, you get your full pension.

If I stay till retirement i'll have 40 years pensionable service when i'm 57 (started paying when i was 17). Hopefully i won't pay pension contributions for the last 3 years.

Plus we get 3/80ths per year lump sum (max 120/80ths or 1.5 years pay).

Regards, Daz

Midlife......

iTrader: (2)

I'm on an NHS pension of 40 X 80th so have to work 40 years to get a full pension...as I qualified at 22/23 years of age then I retire at 63

Daz beats me by 6 years

Midlife.....

Leslie

I was asking PSL: about the new members he mentioned who will be under different pension arrangements Daz.

Les