Public Sector Strikes

dacouch

For a private pension you would have needed to contribute circa £410 a month (meaning your salary would have been circa £45k) for your 27 years to achieve £8500 per annum

Flyboy152

dacouch wrote: »

For a private pension you would have needed to contribute circa £410 a month (meaning your salary would have been circa £45k) for your 27 years to achieve £8500 per annum

Based on what growth assumptions?



P.S. Using Standards life's "Pension Calculator," is not necessarily the best way to check.

dacouch

Standard 7% per year growth

Flyboy152

dacouch wrote: »

Standard 7% per year growth

Whose annuity is the income coming from?

According http://www.pensioncalculator.org/ the contribution would nearer three hundred pounds a month. I wonder who is right?

dacouch

Flyboy152 wrote: »

Whose annuity is the income coming from?

According http://www.pensioncalculator.org/ the contribution would nearer three hundred pounds a month. I wonder who is right?

Eyeinthesky says he has contributed for 27 years and was retired early, I've assumed he started contributing age 30 and retired 27 years later aged 57.

Based on your suggested monthly payment of £300 the suggested annual income would be circa £6800 using your suggested link.

My calculation was "Back of a fag packet", using your calculator and the above criteria eg age 30 and 27 years contributions it the monthly payment would be about £384 so my circa figure was not that far out

Flyboy152

dacouch wrote: »

Eyeinthesky says he has contributed for 27 years and was retired early, I've assumed he started contributing age 30 and retired 27 years later aged 57.

Based on your suggested monthly payment of £300 the suggested annual income would be circa £6800 using your suggested link.

My calculation was "Back of a fag packet", using your calculator and the above criteria eg age 30 and 27 years contributions it the monthly payment would be about £384 so my circa figure was not that far out

And thouroughly ignoring the....

This time, they were advised, by their occupational health provider, to find me other employment to avoid any further damage to my hearing, which had worsened. There was no other job suitable, so I was retired. My pension years were enhanced to 33 years

.....part of the statement.

How's your [STRIKE]Standards life's Pension Calculator[/STRIKE], sorry, "Fag Packet," calculation now?

dacouch

Flyboy152 wrote: »

And thouroughly ignoring the....



.....part of the statement.

How's your [STRIKE]Standards life's Pension Calculator[/STRIKE], sorry, "Fag Packet," calculation now?

Your the one ignoring the fact that he only paid 27 years contributions, the extra 6 years enhanced pension were not paid by him, so my calculation is more accurate than your calculation. It clearly stated 27 years in my original post

gregg1

Rotor wrote: »

Nope ; I'm still on truce. I'm still waving my 'peace in our time' letter.
I've pledged to put away my rant box and only use fact , logic and humour to fight my corner ( well maybe some opinion and speculation too)
Not sure what you mean here . is it taht the money is theirs because they pay tax? - but they only make up 1/6th of the workforce ( and far less as a fraction of taxpayers assuming everyone pays tax of some sort).But they take 6/6ths of the benefit from that pension fund
The basic fact is that with increased longevity promises that seemed reasonable 30 years ago are unaffordable now.
(say) £10,000 a year pension for 10 years in retirement is a lot less than £10,000/yr for 20 years in retirement now. (Think the average female lifespan is 88 yrs so make that 28 years)

Yours Faithfully
Mr Rotor

nope - I was merely pointing out that public sector workers are taxpayers themselves as a lot of people seem to ignore that fact.

However hard I look at it, I still find it hard to square the circle which says that Bankers' contracts cannot be changed but public sectors can.

gregg1

Rotor wrote: »

Ha - Gregg . Just noticed . My 'peace in our time' letter comment
That metaphor makes me Chamberlain which means you are ...........................
Oh No . Does that mean I lose the argument as stated by Godwins Law (First person to mention hitler/nazis on an internet thread loses the argument);)

poor deluded rotor - you lost the [STRIKE]plot[/STRIKE]argument way back on the thread mate;)

Rotor

gregg1 wrote: »

poor deluded rotor - you lost the [STRIKE]plot[/STRIKE]argument way back on the thread mate;)

Ha ha - I.m sure many in the public sector agree with you. Turkeys don't vote for Christmas.
I've been avoiding the thread to avoid a rant but the teachers they taunt and goad me so.
Just received the email to say school is closed on thursday. So thats a days earnings lost and a days schooling for my children lost. Collateral damage I suppose.
Still if "losing the argument" is synonymous with wanting to put the education and future of children before demands for increasing pension benefits (at a time when private pensions are plummeting) then guilty as charged.