civil service pensions

peter1000

Just a quicky as most working people (who get their hands dirty and sweat )look forward to retiring in poverty on the state pension.As private pensions are a complete con and waste of money(do the sums).I hope all you lucky civil servants enjoy your gold plated pensions and spare a thought for the rest of us,and stop bleating on here about how your lump sum or pension is a few quid less than you expected just count your blessings you wont have to live on just the state pension like us lot. Sorry if i sound bitter but this is the reality for most people how can a normal working bloke be expected to save 300 to 400 hundred pounds a month in private pension to get any kind of return its unrealistic had to get this of me chest:mad:

ukdickie31

Why didn't you join the Civil Service then ?

Were the wages too poor for you?

You may have read too much of the Daily Mail.

Civil servants in the real world don't have golden pensions. Those are saved for MP's.

Tony_Webster

Senior civil servants are a different matter, but the wages are generally lower for the 'drones' to reflect the pension provision & supposed job security. MPs pensions are the real scandal, civil servants are the easy target.

EdInvestor

peter1000 wrote: »

Just a quicky as most working people (who get their hands dirty and sweat )look forward to retiring in poverty on the state pension....just count your blessings you wont have to live on just the state pension like us lot. Sorry if i sound bitter but this is the reality for most people...

Hello Peter

You obviously don't realise there are 2 state pensions.Anyone who works but has no company pension or private pension, will get the 2 state ones. The second one can double the size of the first, sometimes more. You can check how much you will get by asking for a forecast here:

https://www.thepensionservice.gov.uk

Nobody has to live on just the basic state pension - anyone in that situation can claim pension credit, which increases income by 36%. Plus you will get free rent and council tax.

ormus

civil service pensions are just not sustainable.
the average council is paying 5% out of their budget for pensions. some councils pay nearly 7%.
remember this is money for todays pensioners. civil pensions are not funded like normal pensions, they are funded out of taxpayers money, paid today. there is no pension pot gathering interest.
other depts are even worse. the fire brigade can be paying 15% of their budgets for pension.
and MPs of course are twice as well off as civil servants!
the total future liability is in the order of 850 billion quid.
this figure is impossible to find in the governments books. the whole thing is a gigantic scam.

johnllew

peter1000 wrote: »

how can a normal working bloke be expected to save 300 to 400 hundred pounds a month in private pension to get any kind of return its unrealistic had to get this of me chest:mad:

You poor chap. You could always use your £100k to provide income in your retirement. Not so badly off are you, really?

peter1000 wrote: »

Hi everybody got £100000 savings come the end of march got approx £35000 outstanding on the mortgage should i pay it off or keep my capital may be towards another property etc only earning crap money at the moment 18000 a year not sure what to do!!.

sdooley

Assuming the OP is coming up to retirement and that is all his savings then that is less than £4,000 per year max income after he's paid his mortgage off. Index-linked maybe £2,000 per year. Not equivalent to a local government pension.

I disagree with the OP's views on civil service pay in general, but cross-linking to other people's posts looks spiteful.

grannybroon

I was in the Civil Service many years ago and our salaries always reflected that it was a non-contributory scheme (salaries always slightly less than equivalent grades elsewhere who paid superannuation). I tried to transfer to a local government scheme when I resumed work in 1990 and due to gross mishandling by my employer and the Civil Service Pension fund my contributions weren't transferred. Despite enquiring recently when getting a Pension forecast I cannot do anything about it. The transfer then was time expired (a year). As a consequence I am now buying in added years.

Will qualify for Civil Service pension in December 2010 (a very small lump sum and only something like £40 a month); State Pension available from September 2011 and LG pension available when I reach 65 in 2015.

I am just glad I have been able to buy added years to top up my LG pension. I think it is up to individuals to make provision for their retirement and if fortunate to do so, good. If someone hasn't done this, then please don't whine and point the finger at certain professions.

GB

johnllew

sdooley wrote: »

I disagree with the OP's views on civil service pay in general, but cross-linking to other people's posts looks spiteful.

No more spiteful than the OP's post about something he has little knowledge about. Civil service salaries are usually well below private sector equivalents, partly to make up for their pensions but also to reflect job security. There is no longer job security in the civil service. The OP just wanted an easy target.

grannybroon

I would also agree with the job security when I was there many moons ago. Not the case now!

GB