Another public sector golden pension

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Muscle750
Muscle750 Posts: 1,075 Forumite
in Pensions, annuities & retirement planning
Someone i know just took early retirement from the civil service took £80k lump sum off to sunny places for next 3 months and is going to carry on doing a 3 day week when they return for more than if they carried on working FT and left the pension. And the last contact i had with my pension in the private sector was informing me of a loss in the fund overall virtually wiping out the previous 12 months contributions.one word......................JOKE ...........end of.
We along with many others i know working in the private sector feel badly let down
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  • p00hsticks
    p00hsticks Posts: 12,819 Forumite
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    Please just give it a rest (or at least post in the 'Praise, Vents and Warnings' or 'Discussion Time' sections in the future rather than here). You've made your view of public sector pensions very clear in previous rants and this adds nothing further.
  • IAmWales
    IAmWales Posts: 2,024 Forumite
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    You seem a very bitter person Muscle750. Do you not have anything positive in your own life?
  • iltisman
    iltisman Posts: 2,589 Forumite
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    You have done it now all the members of the Public Sector (resting classes) will pile in saying what a hard time they have.
  • hyubh
    hyubh Posts: 3,531 Forumite
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    iltisman wrote: »
    You have done it now all the members of the Public Sector (resting classes) will pile in saying what a hard time they have.

    Wrong forum. Please take the Tyrannosaurus Rolling elsewhere - ta!
  • takethemon
    takethemon Posts: 139 Forumite
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    It never fails to bemuse me that many who get their golden handshake in the public service return to do the same or similar jobs.
    I must not be shaking hands in the correct manner.
    I have a Public service pension by the way, and I cant fault it.
  • MPD
    MPD Posts: 261 Forumite
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    Muscle750 wrote: »
    And the last contact i had with my pension in the private sector was informing me of a loss in the fund overall virtually wiping out the previous 12 months contributions.one word......................JOKE ...........end of.

    Maybe you should ask the knowledgeable people on this forum to review your investment strategy. That will be far more use to you than getting bitter about other people's choices.
    After years of disappointment with get-rich-quick schemes, I know I'm gonna get rich with this scheme...and quick! - Homer Simpson
  • moneyfoolish
    moneyfoolish Posts: 681 Forumite
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    Muscle750 wrote: »
    Someone i know just took early retirement from the civil service took £80k lump sum off to sunny places for next 3 months and is going to carry on doing a 3 day week when they return for more than if they carried on working FT and left the pension. And the last contact i had with my pension in the private sector was informing me of a loss in the fund overall virtually wiping out the previous 12 months contributions.one word......................JOKE ...........end of.
    We along with many others i know working in the private sector feel badly let down
    You have been badly let down.......but not by the public sector! You've been let down by Gordon Brown, greedy companies who took pension holidays in the good times and corrupt bankers who caused a stockmarket crash. I worked in the private sector and the public sector and received very similar pensions from both as when I took my private sector pension it was also a final salary pension. I completely agree with you about people taking redundancy and/or retiring and then returning to work on larger salaries than they had before but that also applied to the company I worked for in the private sector at the time I took redundancy.
  • Silvertabby
    Silvertabby Posts: 9,022 Forumite
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    The bulk of my and Mr S's public sector pensions are from our combined 52 years service in HM Forces. You made your career choice, we made ours.
  • C_Mababejive
    C_Mababejive Posts: 11,654 Forumite
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    takethemon wrote: »
    It never fails to bemuse me that many who get their golden handshake in the public service return to do the same or similar jobs.
    I must not be shaking hands in the correct manner.
    I have a Public service pension by the way, and I cant fault it.
    It can also happen in the private sector. I know of people who have DB pensions ,can reture from 5 onward with reduced pension. Some have been re-hired via third party contracting companies to do the same job purely due to lack of expertise/bodys to do that work.
    Feudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..
  • westv
    westv Posts: 6,084 Forumite
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    I'm fuming and blame the public sector that my private sector DB pension pot is currently only just under £300,000! :mad:

    :p:D:D
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