Public Sector Pensions

StevieJ

abaxas wrote: »

Just tax pensions on annuity payments.

Problem sorted.

What does that mean?

Old_Slaphead

carolt wrote: »

I'm not a public sector worker and I voted for.

How else do you think public sector workers are going to be paid the pensions they signed up to and were promised as part of their pay deal?

That's fair enough - but future annual pay rises are not part of their pay deal. I would simply give them no pay rises until the overall package was more in line with what's affordable & available across the country as a whole. Remember Mr Brown was quite happy to change the signed up T&Cs of private schemes taxation.

The current public/private pension situatiion is a bit like the Equitable Life debacle where one set of beneficiaries get unlimited guarantees which are subsidised by other contributors on significantly inferior terms. As the guarantees become more valuable & costly, the bigger the cross subsidy from others was required.

abaxas

StevieJ wrote: »

What does that mean?

It means an extra tax on pensions payments. Th advantage of doing it this way is that it doesnt break contrcts and could be sold under the title of 'pension protection tax' or something.

I'd be suprized if this doesnt happen in the next 5-10 years.

Generali

StevieJ wrote: »

Obviously some dishonourable people on here who believe that employment contracts should be broken, where next the £50k promise on bank accounts or defaulting on our govt debt?

My opinion is that they shouldn't be broken, clearly that would be wrong. I believe however that they will be broken as a lie has been sold to the British people, that it's possible to pay for pension promises as those promises exist as present.

Old_Slaphead

abaxas wrote: »

It means an extra tax on pensions payments. Th advantage of doing it this way is that it doesnt break contrcts and could be sold under the title of 'pension protection tax' or something.

I'd be suprized if this doesnt happen in the next 5-10 years.

Would you suggest that those of us making our own private provision without any taxpayer help be expected to pay too?

sss555s

I'd like to vote yes but with conditions.

Surely if they are going to honour the contracts then it should be the same for everyone that pays for it, public and private, and be based on your wage in your final working years.

This would give pensioners more comfort in their retirement which they deserve after paying tax all their life, public or private.

marklv

Arcaine wrote: »

Just a quick poll on Public Sector Defined benefit pension scheme funding.

This is an idiotic poll because the issue will be the decided by the government of the day, not by a referendum.

Old_Slaphead

StevieJ wrote: »

Obviously some dishonourable people on here who believe that employment contracts should be broken

There's more than 1 way to skin a cat. No future pay increases or staff pension contributions increased by say 10-15% to meet additional longevity costs. That presumably wouldn't break the T&C's of employment

westv

marklv wrote: »

This is an idiotic poll because the issue will be the decided by the government of the day, not by a referendum.

Idiotic? I thought that Governments were decided by polls as well.

abaxas

Old_Slaphead wrote: »

Would you suggest that those of us making our own private provision without any taxpayer help be expected to pay too?

Of course.

You got tax relief on it!