Public sector pension rant

JamesU

bilbo51 wrote: »

I can be a real pain you know. People always have a choice a to what to do next. For example, you now have a choice as to whether to respond to this post. It's my contention that you'll make the best choice for you.

There is no point in either of us being a pain. But if you can actually explain how a 65 year old pensioner can choose not to loose 15-20% of their pension over the next 20 years following Government intervention with a switch from RPI to CPI, please do enlighten me.

JamesU

nic_santorini

dizzybuff wrote: »

If hes being paying 11% in for his pension , he will be a copper . Coppers can not opt out of paying their pension. They can not opt out of paying into the Police Federation and they can also not strike ...

Actually, cops do not have to pay the pension at all, nor the federation, but yes can not strike.

Loughton_Monkey

JamesU wrote: »

There is no point in either of us being a pain. But if you can actually explain how a 65 year old pensioner can choose not to loose 15-20% of their pension over the next 20 years following Government intervention with a switch from RPI to CPI, please do enlighten me.

JamesU

Truth in this, but this is not really relevant to the OP. The CPI change affects every single one of us (destined to use state pension) - not only public sector FS pensions.

When you start a job, you get a 'contract' giving you £8,000, plus stated pension scheme mebership (if required) and (say) 3 weeks holiday. As time goes on, you get a £400 rise. Does anyone refer to this as 'winning'? If you had expected £500 rise, do you call this 'losing' [or "loosing" - sic]?

This sort of thing has little to do with winning or losing. Just as your employer can have hard times and freeze salaries - even make a few redundant ('losing' 100% of salary) - they can have good times [as public sector has recently]. Life is a lottery.

There is no 'contract' for State Pension. You get what you get. The Government could withdraw them entirely tomorrow. There is no 'right' to get RPI increase every year. Only expectation. For a lot of lower paid people, there is no 'right' to pay less tax than last year - and yet with allowance up to £7450 from £6450, have they not 'won'? Do you see any posts thanking the tax payer or Government for this extra?

There are many symptoms of a sick and dying economy. By far the largest of these is the huge whinging about the 110+ forms of state benefits that sadly exist in this country.

RichandJ

dizzybuff wrote: »

If hes being paying 11% in for his pension , he will be a copper . Coppers can not opt out of paying their pension. They can not opt out of paying into the Police Federation and they can also not strike ...

Could also be Fire, unless they've changed the contribution rate since I last dealt with both schemes.

dizzybuff

nic_santorini wrote: »

Actually, cops do not have to pay the pension at all, nor the federation, but yes can not strike.

sure

TBH Im not sure they can opt out of the federation , you are correct about the pension thoough. However it would be highly unsuggestable due to the cover they provide for the coppers.

pete1564

I have a personal interest in this thread and wonder if anyone can explain something that puzzles me. I've asked a local staff rep member but only got a puzzled look and scratch of the head!

I am presently due to retire at end October, 2012 having reached 30 years service. If having reached maximum pension contributions by then, but then being required to work until 60, will I still have to pay into pension?