Re: Public sector pensions debate below

Just to point out that as a civil servant, I have no idea whether I pay enough to fund my retirement based on the contributions nor whether there is a shortfall. Neither does anyone else.

Why?

Because when the Civil Service scheme isn't funded from a 'pension fund'. There is no money invested. My 'contributions' go straight back to HM Treasury to spend on whatever is decided by HM Government. So the shortfall is at least partly HM Government's fault. They spent the initial contributions.

Oh and when your private sector employer decides to change your pension scheme, they do so within the context of the law. When my employer wishes to change the scheme, they change the law.

That's a bit of a difference.

Posted By: Johnny Comecardiff on November 28th 2011 at 20:44:00

Message Thread

Re: Public sector pensions debate below (General Chat) - Johnny Comecardiff, Nov 28, 20:44:00
- quality posts Johnny Comecardiff (n/m) (General Chat) - robert_rosario, Nov 28, 21:28:47
  - So, as much as I hate asking the same question again and again, (General Chat) - tudders, Nov 28, 21:39:41
    - suspect a deal will eventually be negotiated (n/m) (General Chat) - South_West_Canary, Nov 28, 21:45:56
- I'd love the luxury of a day off on Wednesday. (General Chat) - pieman63, Nov 28, 21:01:01
  - "50% of the pop works for the govt" - fact or deliberate overstatement? (General Chat) - Sugbad The Bad, Nov 28, 21:04:51
    - sounds high, but to match the current public sector pensions (General Chat) - phrankin, Nov 28, 21:10:40
      - most public sector wages low though (General Chat) - South_West_Canary, Nov 28, 21:18:38
        
        many private sector wages are low (General Chat) - phrankin, Nov 28, 21:19:38
        
        should get themselves organised (General Chat) - South_West_Canary, Nov 28, 21:22:28
    - the rest are on benefits (n/m) (General Chat) - Tombs, Nov 28, 21:10:24
- My point, thinly disguised as it may have been, (General Chat) - tudders, Nov 28, 20:59:48
- The pensions are currently incredibly generous. (General Chat) - phrankin, Nov 28, 20:58:20
  - Generous as in we should all have equally bad pensions? (General Chat) - Johnny Comecardiff, Nov 28, 21:00:52
    - generous, as in, the schemes in the private sector were deemed unaffordable (n/m) (General Chat) - phrankin, Nov 28, 21:05:09
      - mine isn't (General Chat) - South_West_Canary, Nov 28, 21:09:48
        
        Wasn't helped much by Gordon Brown's tax changes back in the late 90s (General Chat) - phrankin, Nov 28, 21:17:25
        
        final salary schemes have almost disapeared from the Private sector (General Chat) - phrankin, Nov 28, 21:12:25
        
        indeed. very bad for those who have lost them (General Chat) - South_West_Canary, Nov 28, 21:16:12
        
        How would you define correct contributions? (n/m) (General Chat) - tudders, Nov 28, 21:21:55
        
        whatever actuaries advise (n/m) (General Chat) - South_West_Canary, Nov 28, 21:24:08
        
        agreed. nor the greed of businesses (n/m) (General Chat) - South_West_Canary, Nov 28, 21:20:07
        
        Gordon Brown axing dividend tax credit in 1997 didn't help either (n/m) (General Chat) - phrankin, Nov 28, 21:18:57
        
        Cost to pension funds was approx ?5 billion a year (n/m) (General Chat) - KentonCanary, Nov 28, 22:49:33
- I don't want to use my holiday up because people want to strike (n/m) (General Chat) - BSE Canary, Nov 28, 20:45:30
  - air traffic controllers? (General Chat) - Tombs, Nov 28, 20:51:34
    - i thought Labour privatised them? (n/m) (General Chat) - Ralf Scrampton, Nov 28, 21:06:39
      - god knows (General Chat) - Tombs, Nov 28, 21:11:03
  - Can I suggest you address that to your free childcare provider? (n/m) (General Chat) - Johnny Comecardiff, Nov 28, 20:51:13

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