i just had my pay "rise" and it was very small

Gorgeous_George

AIUI the two year pay freeze is just that. Rather than illegally backtracking on any peviously agreed deals those Public Sector Workers with existing agreed pay deals will be honoured and their two year pay freeze will start when those deals end. It will still be two years.

The pension argument is a farce. Other than servicemen and the Police, most Public Sector Workers that I know earn 1/80th per year with a maximum of 40/80ths (or half pay) after 40 or more years service. Hardly gold-plated.

If Private Sector Workers want to know where their pension has gone they could do well to look at the shareholders (and Gordon Brown of course).

Remember, while Public Sector Workers are a soft target it wasn't them that caused the financial crisis any more than a bloke who fits doors to a Fiesta.

GG

ruggedtoast

Generali wrote: »

Be pleased that I'm doing well for myself. I'm no longer in investment banking or hedge funds; I'm looking after peoples' pensions and most importantly making sure they are secure with no Madoff-style shenanigans. The pay isn't telephone-number stuff but it is enough to provide a decent life-style for me and my family.

The Generali children mixing with Australian children earlier today.

ruggedtoast

chucky wrote: »

when the White Horse complains that his pay rise is very small... are we sure that he's referring to his pay rise or is his <blank> very small

please fill in the <blank> as you wish

Apparently even a very small one is better than nothing.

Gorgeous_George

White Horse is a donkey. Hee Haw, Hee Haw.

Old_Slaphead

Gorgeous_George wrote: »

The pension argument is a farce. Other than servicemen and the Police, most Public Sector Workers that I know earn 1/80th per year with a maximum of 40/80ths (or half pay) after 40 or more years service. Hardly gold-plated. .

If Private Sector Workers want to know where their pension has gone they could do well to look at the shareholders (and Gordon Brown of course).

Remember, while Public Sector Workers are a soft target it wasn't them that caused the financial crisis any more than a bloke who fits doors to a Fiesta.

GG

Don't forget that all 1/80th pensions also pay 3x annual amount as a tax free lump sum - so the annuity value of this should also be added in to the value. Also for most the pension pays from age of 60 which is another 5 years worth! Plus it's guaranteed and index linked so no worries there then. Compared with what's now available in the private sector it's platinum tipped with diamonds plated.

Gordon Brown created the business environment - shareholders are mostly pension funds and share prices have hardly done well in past 10 years (hence that's why pensions are currently such poor value!). Stockmarket is now lower than when Labour came to power in 1997 - the only greed has been by the Government.

The vast majority of the private sector didn't create the problem either but why should they be the only ones that pay? Bankers were a big problem but the public weren't forced to take out massive loans and mortgages. They were conned by vested interests including the Government who were happy to see the public screwed so it could raise more taxes and create the illusion of growth to fund the excesses of the "big state" public sector (an extra 1.2 million jobs)

PasturesNew

ruggedtoast wrote: »

Apparently even a very small one is better than nothing.

It probably smells like a biggun.

marklv

Gorgeous_George wrote: »

AIUI the two year pay freeze is just that. Rather than illegally backtracking on any peviously agreed deals those Public Sector Workers with existing agreed pay deals will be honoured and their two year pay freeze will start when those deals end. It will still be two years.

The pension argument is a farce. Other than servicemen and the Police, most Public Sector Workers that I know earn 1/80th per year with a maximum of 40/80ths (or half pay) after 40 or more years service. Hardly gold-plated.

If Private Sector Workers want to know where their pension has gone they could do well to look at the shareholders (and Gordon Brown of course).

Remember, while Public Sector Workers are a soft target it wasn't them that caused the financial crisis any more than a bloke who fits doors to a Fiesta.

GG

What the BBC is proposing on pensions is disgraceful. Rather than guaranteeing the indexation of pension rights, they are not only removing the indexation guarantee, but actually under-indexing it, so that the pension rights will effectively be worth almost nothing by the time many employees retire. Diabolical! It would have been better if they had simply put all the staff on the new money purchase scheme and frozen existing final salary rights but indexed them.

marklv

Andy_L wrote: »

? You need to work on your reading comprehension, I'm not saying anything is wrong with spine points. I'm saying that some departments still have them & are getting an increase despite the budget's pay freeze.

btw In many areas you don't have to start at the bottom of the pay spine

So what? If the all points on the spine are frozen, bingo - you have a pay freeze! So what would have been a real rise in salary merely becomes keeping your real previous salary, with no actual rise. What's your point?

silvercar

marklv wrote: »

So what? If the all points on the spine are frozen, bingo - you have a pay freeze! So what would have been a real rise in salary merely becomes keeping your real previous salary, with no actual rise. What's your point?

You would generally move one point up the spine on your anniversary of being at that grade, provided that there are points above you on the spine to move to and they are not special spine points requiring certain achievements.

marklv

silvercar wrote: »

You would generally move one point up the spine on your anniversary of being at that grade, provided that there are points above you on the spine to move to and they are not special spine points requiring certain achievements.

Yes, but what I'm saying is that if the points are themselves frozen - i.e. do not rise with inflation - then a move to the next spine point is no longer a genuine rise in salary, as was intended, is it?