Public sector wellcome to the real world

cyclonebri1

jackyann wrote: »

I was brought up to be ethical and have tried to be so all of my life. Part of that was that I should both volunteer, and do a job that was regarded as "service to the community".
I became a nurse, and worked in difficult situations, with distressed people, and did unpaid overtime.
I know very little about money, other than living within my means.
I took what society deemed was a suitable salary (which, when I was a senior nurse was exactly what Price Waterhouse Cooper paid the 18-19 year old friend of our family that they took for a gap year). I paid what was requested for my pension, tax & NI.
I haven't the first clue what I could have earned in the private sector (other than as a private nurse)

I have said on another thread that I am fed up with being blamed, fed up with people thinking I have had a cushy job. My final salary: 40 years of experience and training being constantly updated, still doing clinical work, was £32k approx. I still don't know if that was fair or not, or whether the pension I receive is or not, and I suspect most of you don't either.

I worked in engineering for 38 years until I was invalided out.
Same company.
Salary back in the 90's was just under £40K at best
After a few promotions and being staffed my final salary at enforced retirment was just £30K and for that I was the companies chief engineer.
Pension system rules decreed the average of the best 2 years from the previous 10 was £28k and that's what my pension was based on.

And It's a 1/120 scheme, unlike your 1/90 or 1/60 or even 1/45:eek: for doctors/surgeons

Does that explain why "we have little sympathy??

taking_stock

cyclonebri1 wrote: »

And It's a 1/120 scheme, unlike your 1/90 or 1/60 or even 1/45:eek: for doctors/surgeons

Does that explain why "we have little sympathy??

it explains your bitterness, but doesn't really excuse it.

when you apply for a job they state the salary and benefits and you make your own choice - whether in private or public service.

i've no issue with benefits changing going forward, but agree that accrued benefits should be protected (which they are, apart from the rpi to cpi).

Darren_G

ILW wrote: »

Think you are missing the point.

As a taxpayer, I do not see why I should be paying for someone elses very generous pension that I do not have access to myself. If you want a high pension you should be funding it out of your own pocket.

But you are still happy to pay towards the 22% state contribution to each MP's pension?

And the bonuses for the bankers (nearly mis-spelled there) who were bailed out with public money??

2sides2everystory

Prime Minister is currently misselling changes to public sector pensions big time live on BBC News - he isn't even registered with the FSA is he?

ILW

Darren_G wrote: »

But you are still happy to pay towards the 22% state contribution to each MP's pension?

And the bonuses for the bankers (nearly mis-spelled there) who were bailed out with public money??

No I am not and feel the same right to express my displeasure at them as to the public sector unions thinking they can just keep on taking despite the economy not being able to afford what they think they are worth.

Koicarp

I've just been on the NHS pension scheme calculator. I'm a 41 senior charge nurse, and on todays 1/80th scheme the figures are:

Intended retirement age: 60
Current salary: £35k
Total number of whole years contributions at retirement: 34
Annual pension: £14875
Lump sum retirement allowance: £44625

Just thought it might be useful to all to see exactly what you are aguing for/against. One further point- no health "professional" other than the few in the "special classes" can retire before 60.5 years with 40 years contributions because it isn't possible to qualify before then. The majority of student nurses now are mature students, so they will get fewer years in.

Koicarp

Current contribution rates to the NHS pension are:

Contribution Tier Pensionable Pay Contribution Rate
1 Up to £20,709 5%
2 £20,710 - £68,392 6.5%
3 £68,393 - £107,846 7.5%
4 £107,847+ 8.5%
(The contribution rate paid by employers remains at 14%).

ILW

Koicarp wrote: »

I've just been on the NHS pension scheme calculator. I'm a 41 senior charge nurse, and on todays 1/80th scheme the figures are:

Intended retirement age: 60
Current salary: £35k
Total number of whole years contributions at retirement: 34
Annual pension: £14875
Lump sum retirement allowance: £44625

Just thought it might be useful to all to see exactly what you are aguing for/against. One further point- no health "professional" other than the few in the "special classes" can retire before 60.5 years with 40 years contributions because it isn't possible to qualify before then. The majority of student nurses now are mature students, so they will get fewer years in.

So your total contributions would have been around £40k (max)
If you live till 85 you will receive around £375k.
Seems pretty good to me.

Koicarp

Not complaining, just giving some real figures for people to understand what they are aguing about. Not everybody lives to 85 either, neither of my parents reached 65, so I doubt I will get to 85 or anything like it.

GavB79

Muscle750 wrote: »

secter

close

Muscle750 wrote: »

sectar

close again...

Muscle750 wrote: »

Plus my wife who is a teacher and earns close to £900 a month less than i do working in the private sectar

So let's get this straight... your wife, who does a worthwhile job (not saying your job isn't, but we don't have that information) earns £900 LESS PER MONTH than you do, but it's the public sector that have got it made?