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  • FIRST POST
    • Muscle750
    • By Muscle750 12th Jun 17, 6:05 PM
    • 876Posts
    • 267Thanks
    Muscle750
    Another public sector golden pension
    • #1
    • 12th Jun 17, 6:05 PM
    Another public sector golden pension 12th Jun 17 at 6:05 PM
    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
Page 1
    • p00hsticks
    • By p00hsticks 12th Jun 17, 6:10 PM
    • 5,590 Posts
    • 5,135 Thanks
    p00hsticks
    • #2
    • 12th Jun 17, 6:10 PM
    • #2
    • 12th Jun 17, 6:10 PM
    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
    • By IAmWales 12th Jun 17, 6:11 PM
    • 1,231 Posts
    • 2,603 Thanks
    IAmWales
    • #3
    • 12th Jun 17, 6:11 PM
    • #3
    • 12th Jun 17, 6:11 PM
    You seem a very bitter person Muscle750. Do you not have anything positive in your own life?
    • iltisman
    • By iltisman 12th Jun 17, 6:12 PM
    • 2,279 Posts
    • 2,451 Thanks
    iltisman
    • #4
    • 12th Jun 17, 6:12 PM
    • #4
    • 12th Jun 17, 6:12 PM
    You have done it now all the members of the Public Sector (resting classes) will pile in saying what a hard time they have.
    It's only my cheerfulness that keeps me going
    • hyubh
    • By hyubh 12th Jun 17, 6:37 PM
    • 1,887 Posts
    • 1,400 Thanks
    hyubh
    • #5
    • 12th Jun 17, 6:37 PM
    • #5
    • 12th Jun 17, 6:37 PM
    You have done it now all the members of the Public Sector (resting classes) will pile in saying what a hard time they have.
    Originally posted by iltisman
    Wrong forum. Please take the Tyrannosaurus Rolling elsewhere - ta!
    • takethemon
    • By takethemon 12th Jun 17, 6:40 PM
    • 100 Posts
    • 50 Thanks
    takethemon
    • #6
    • 12th Jun 17, 6:40 PM
    • #6
    • 12th Jun 17, 6:40 PM
    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
    • By MPD 12th Jun 17, 6:49 PM
    • 194 Posts
    • 240 Thanks
    MPD
    • #7
    • 12th Jun 17, 6:49 PM
    • #7
    • 12th Jun 17, 6:49 PM
    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.
    Originally posted by Muscle750
    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
    • By moneyfoolish 12th Jun 17, 7:00 PM
    • 450 Posts
    • 261 Thanks
    moneyfoolish
    • #8
    • 12th Jun 17, 7:00 PM
    • #8
    • 12th Jun 17, 7:00 PM
    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
    Originally posted by Muscle750
    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
    • By Silvertabby 12th Jun 17, 7:08 PM
    • 1,518 Posts
    • 1,812 Thanks
    Silvertabby
    • #9
    • 12th Jun 17, 7:08 PM
    • #9
    • 12th Jun 17, 7:08 PM
    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
    • By C_Mababejive 12th Jun 17, 7:52 PM
    • 10,251 Posts
    • 9,309 Thanks
    C_Mababejive
    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.
    Originally posted by takethemon
    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
    • By westv 12th Jun 17, 7:59 PM
    • 4,291 Posts
    • 1,863 Thanks
    westv
    I'm fuming and blame the public sector that my private sector DB pension pot is currently only just under £300,000!

    • PeacefulWaters
    • By PeacefulWaters 12th Jun 17, 8:36 PM
    • 6,854 Posts
    • 8,441 Thanks
    PeacefulWaters
    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.
    Originally posted by moneyfoolish
    Not taking payment holidays would have incurred huge tax penalties.
    • chucknorris
    • By chucknorris 12th Jun 17, 8:39 PM
    • 9,099 Posts
    • 13,742 Thanks
    chucknorris
    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
    Originally posted by Muscle750
    If it is so good, why didn't you work in the public sector? Surely that omission is your error of judgement isn't it?
    Chuck Norris can kill two stones with one bird
    The only time Chuck Norris was wrong was when he thought he had made a mistake
    Chuck Norris puts the "laughter" in "manslaughter".
    After running injuries I now also hike, cycle and swim, less impact on my joints.

    For the avoidance of doubt Chuck Norris is an actor and an ex martial artist (not me)
    • Muscle750
    • By Muscle750 12th Jun 17, 8:40 PM
    • 876 Posts
    • 267 Thanks
    Muscle750
    And im fuming throu no choice of our own the FS was ripped from under our feet 11 years ago with little warning and the DC pension we were given in its place aint worth as it stands the paper its written on. Yet as long we keep supporting the public sector pensions throu Tax revenue who cares
    • chucknorris
    • By chucknorris 12th Jun 17, 8:50 PM
    • 9,099 Posts
    • 13,742 Thanks
    chucknorris
    You have done it now all the members of the Public Sector (resting classes) will pile in saying what a hard time they have.
    Originally posted by iltisman
    I haven't had a hard time, although I have worked bloody hard (which is totally different). I now work in the public sector, but I have mainly worked in the private sector, also worked for myself and also ran businesses. What I would say is, if the public sector is so much better, why not work in it, rather than moaning about it?
    Chuck Norris can kill two stones with one bird
    The only time Chuck Norris was wrong was when he thought he had made a mistake
    Chuck Norris puts the "laughter" in "manslaughter".
    After running injuries I now also hike, cycle and swim, less impact on my joints.

    For the avoidance of doubt Chuck Norris is an actor and an ex martial artist (not me)
    • chucknorris
    • By chucknorris 12th Jun 17, 8:53 PM
    • 9,099 Posts
    • 13,742 Thanks
    chucknorris
    And im fuming throu no choice of our own the FS was ripped from under our feet 11 years ago with little warning and the DC pension we were given in its place aint worth as it stands the paper its written on. Yet as long we keep supporting the public sector pensions throu Tax revenue who cares
    Originally posted by Muscle750
    It seems to me that your issue is both with your employer for what happened 11 years ago, and also yourself for not moving over to the public sector when that happened.
    Chuck Norris can kill two stones with one bird
    The only time Chuck Norris was wrong was when he thought he had made a mistake
    Chuck Norris puts the "laughter" in "manslaughter".
    After running injuries I now also hike, cycle and swim, less impact on my joints.

    For the avoidance of doubt Chuck Norris is an actor and an ex martial artist (not me)
    • marlot
    • By marlot 12th Jun 17, 8:54 PM
    • 3,045 Posts
    • 2,175 Thanks
    marlot
    I took a 50% pay cut when I moved into the public sector.

    The department I'm in has more than 50% vacancies. If you have the right skills and are prepared to work for the salaries on offer, come and join us. We have jobs for software developers, projectmanagers, business analysts, etc.
    • marlot
    • By marlot 12th Jun 17, 8:56 PM
    • 3,045 Posts
    • 2,175 Thanks
    marlot
    And im fuming throu no choice of our own the FS was ripped from under our feet 11 years ago with little warning and the DC pension we were given in its place aint worth as it stands the paper its written on. Yet as long we keep supporting the public sector pensions throu Tax revenue who cares
    Originally posted by Muscle750
    So just because you were knifed by your employer, you want to knife other people. Nice.
    • chucknorris
    • By chucknorris 12th Jun 17, 9:00 PM
    • 9,099 Posts
    • 13,742 Thanks
    chucknorris
    I took a 50% pay cut when I moved into the public sector.

    The department I'm in has more than 50% vacancies. If you have the right skills and are prepared to work for the salaries on offer, come and join us. We have jobs for software developers, projectmanagers, business analysts, etc.
    Originally posted by marlot
    I didn't quite take that much of a salary hit, when I went to work in the public sector I could have earned about £75k in the private sector, my PS salary was only about £52k (I forget), but when you add the pension on and all the holidays (I'm university lecturer), and take away all the unpaid overtime that I used to work. I suddenly realised what a mug I had been, but that didn't make me angry at other lecturers, it just made me realise what a fool I had been.
    Last edited by chucknorris; 12-06-2017 at 9:02 PM.
    Chuck Norris can kill two stones with one bird
    The only time Chuck Norris was wrong was when he thought he had made a mistake
    Chuck Norris puts the "laughter" in "manslaughter".
    After running injuries I now also hike, cycle and swim, less impact on my joints.

    For the avoidance of doubt Chuck Norris is an actor and an ex martial artist (not me)
    • Linton
    • By Linton 12th Jun 17, 9:00 PM
    • 8,203 Posts
    • 8,073 Thanks
    Linton
    Not taking payment holidays would have incurred huge tax penalties.
    Originally posted by PeacefulWaters
    Thank you Nigel Lawson
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