Announced today, phased in over 3 years, contributions are to double, costing an average teacher a further £100 a month. This on top of the two year wage freeze.

More public sector pensions to be hit too. (Source: TES, 14/1/11)

NOW we know why the government and it's tame media have been rubbishing the public sector for eight months So that there is no sympathy for the workers hit by this sort of theft. Because theft is what it is.

And before anyone says, please understand that the Teacher's Pensions fund was stolen by a previous government YEARS ago, so doesn't exist, the government actuaries say it "would be worth" about half what INDEPENDENT actuaries say. Surprise suprise.

So they took the money and spent it years ago, and now taechers are being asked to pay MORE because they no longer have the fund to pay out from.

Meanwhile, MP's pensions remain gold-plated, and the bankers continue with £8 MILLION bonuses....each!

One rule for them, eh?

 

to be honest, i don't have time to care about pensions as I can barely afford to live right now.

 

They can get part time jobs during all that holiday they get

 

Alcazar......just to confirm, am I right in that teachers currently pay 6.4% of their salary for their pension?

Shaun

 

Teachers Pensions are final wage schemes, so they get the same money in pension as they were in the job. I know cos my Bro and Sis are teachers.

So only fair that they give a bit more from their £30k+ salaries.
Not all of us can afford a pension at all, let alone a final salary scheme.

 

Most final salary schemes are 40/60ths are they not? That's what mine is anyway!

 

How many bankers are to each get an £8m bonus exactly and in which bank?

 

Midlife: yes, 6.4%, slated to rise over three years to 12.8% with no extra benefits.

Jimbob/g7prs: Teacher's pensions are 40/80ths of the best of the last three years' final salary. That allows a teacher to take a pay cut for his/her last two years, without losing pension.

They can then take part-time, etc or move aside to allow a younger teacher their promoted post. I know a few who did so, just burned out.

 

Some guy on TV this week, £8 million BONUS, can't remember the details,

here:
http://www.mirror.co.uk/news/politic...5875-22840313/

I Googled it and there are others too.

 

But he earned it!

Anyway I don't like the way Bankers etc seem to have found a way to apparently enslave us but otoh what can you do? I don't think popular outrage is the answer and there will always be elites. Maybe available credit and thus banking elites is the price of a civilised society. What do you replace it with? Socialism? That is even more unjust and enslaving.

 

It had to happen to be honest .
We cant keep subsidising these pension pots of everyone as well as trying to put a few quid away for our own pensions .

All the Council wallers need to coff up a bit more as well now .

 

Sorry but 6.5% for 40/80ths is no way near enough and it should go up. Don't forget they have about 4 months of fricking holidays.

 

Do they?

 

Typical mis-informed nonsense!

 

must have been a cr@p teacher then :P

 

lol, I fought and resisted the urge.

 

Oh...........while I remember I thought the teachers had no actual pension fund and was paid entirely out of taxation.

http://www.bbc.co.uk/news/business-11446829

Shaun

 

Quote from above: Most final salary schemes are 40/60ths are they not?

No, they are not, 40ths is very generous. Then take into account the fact that there are very few final salary schemes left open to future accrual you will find that the teachers scheme is FAR more generous than Joe Public on their DC scheme.

Quote from above: Sorry but 6.5% for 40/80ths is no way near enough and it should go up.

Bang on the money (so to speak) Its a paltry contribution rate compared to the benefits it provides. If you are in any doubt please feel free to compare to what the equivalent DC pension pot will provide the same person with the same contribution history.

Quote from above: Some guy on TV this week, £8 million BONUS

Yes he did but as has been said he earned it. I agree 100% with Bob Diamond (Barclays Boss) when he says the time for remorse from banks is over. Yes, they did cause a meltdown but, long before and now after they are contributing significantly to the economy's recovery and growth. Look at the bonuses this way, they will be taxed in one way or the other so why not let them pay them if they can prove a solid balance sheet, stability and that they have met and repaid the conditions of the bail out? If the bankers move abroad then all that tax money will go with them and us, Joe Public will be hit harder again.

Quote from above: And before anyone says, please understand that the Teacher's Pensions fund was stolen by a previous government YEARS ago, so doesn't exist

Behave yourself! Stolen how exactly? We have always, and will always be taxed and hence the pensions will always be paid. Lastly on this point, are you aware that there are two different ways of valuing a final salary schemes deficit / surplus? Probably explains perfectly the difference between govt and independent actuaries numbers as the media will use one figure from one and another figure from the other to make their scare-mongering articles of interest to Joe Public

 

about time and all . all local goverment workers should be made to cough up why the bloody hell should 17% of my council tax go to pay thier pensions thats £221 quid of my money paying for some other **** to lead the good life when they get to 55 well out of order

 

Hold on a min....I assume you have a Subaru, then you can afford a pension.

 

Because none of the contributions (from either the employer or the employee) have been invested in a pension fund - they have all been spent by successive governments. So there is no pension pot; pensions are paid from taxation. You don't have to be Einstein to work out who's fault that is!

 

And lets not forget all the days off due to Snow ffs !!!!

I thought it was nearer a quarter of our council tax that went into these golden pension schemes .Thats 550 of my hard earned each year towards some layabout retiring at 50 ish while I slog my guts out to 66/67/68 whatever it will be !!!!!

Make them ******* work until 60 odd yrs old .!!

 

Bod Diamond knows full well that his outfit jumped through hoops (selling massive assets off to the Chinese or something like that, if I remember rightly), to avoid taking a penny of tax-payer's money in the outrageous scandal which was the bank-bailout, so he's talking out of both sides of his mouth. Hardly a surprise that though, is it, he is a banker after all

 

For those who think that teachers get it so good why don't you become teachers instead of getting all bitter and twisted over it?

 

How about everyone in the country give me £1 and I will pay tax on that also? I've just done the 'good deed' of paying tax and 'contributing' to the economy EXACTLY the same as Bankers getting million pound bonus' do.

 

I would not have a clue what to do with all the spare time to be honest ,for that reason its not for me !!

 

Future liabilities for public sector pensions is the Gorrilla in the corner nobody talks about. It's not even included in the national debt figures yet is Trillions.

 

You're not kidding its not for you, but not for that reason.