Public sector wellcome to the real world

Uglymug

toshy wrote: »

My pension is worth £600 a month, I will get £400 a month government pension. Yes I no longer will pay NI or pension contributions but this will not affect my nett income and I will be taxed.
I WILL however be marginally better off in retirement than when working, so this only re-inforces my original argument about low salaries in the public sector. Pay us a better salary to enable us to make effective private pension arrangements and all this arguing will not be necessary!!

I think you'll get the 1st £10,000 per year tax free at age 65. You'll pay about £400 per year tax, that's about £33.33 a month.

The taxpayer would save a fortune if they gave the public sector workers a 20% pay rise in compesation for their pensions - Unfortunately, I don't think your unions would stand for it

toshy

Uglymug wrote: »

Sorry, only mentioned teacher in one post as an example - I've reworded:

I don't know what public sector workers are on, say their final salary was £30,000 a year. After 40 years they probably get a £20,000 per year index linked pension.

This pension is worth about £666,666!!!!! (2 thirds of a million pounds)

my current salary is £17,000. Pay rises and increments/up-grading is all totally frozen, has been for 2 years and it seems no change in that is likely. Even the majority of teachers are not on that salary as a lot of experienced teachers are leaving in droves, so most schools have a predominance of NQT's and also choose to appoint NQT's to try to balance their budgets. Uglymug lives in cuckoo land methinks!

Uglymug

toshy wrote: »

my current salary is £17,000. Pay rises and increments/up-grading is all totally frozen, has been for 2 years and it seems no change in that is likely. Even the majority of teachers are not on that salary as a lot of experienced teachers are leaving in droves, so most schools have a predominance of NQT's and also choose to appoint NQT's to try to balance their budgets. Uglymug lives in cuckoo land methinks!

Googling teachers pay gives the figures from teachers.org.uk They range any where between £21,588 and £45,000
I pressume the older teachers and those close to retirement will be on the larger end of the pay scales.

toshy

Uglymug wrote: »

I think you'll get the 1st £10,000 per year tax free at age 65. You'll pay about £400 per year tax, that's about £33.33 a month.

The taxpayer would save a fortune if they gave the public sector workers a 20% pay rise in compesation for their pensions - Unfortunately, I don't think your unions would stand for it

I believe it has been a suggestion already put forward by the unions.
I know many of our members would prefer it as it gives them more control. We strongly suspect that the government is happy to have the pension payments going into a pot....our big question is what happens to it after that!

toshy

Uglymug wrote: »

Googling teachers pay gives these figures from teachers.org.uk
I pressume the older teachers and those close to retirement will be on the bigger pay scales.

Pay Scales 2010-2011 (June 2010)

Teachers’ pay scales from 1 September 2010 for each of the four pay areas: England and Wales generally (E&W); Inner London; Outer London; and the Fringe Area. These scales include the 2.3 per cent increase from September 2010 with slightly higher increases on the main scale in Inner London.

PAY STRUCTURE FOR QUALIFIED TEACHERS 1/9/2010 – 31/8/2011
(OTHER THAN LEADERSHIP GROUP MEMBERS, ASTS AND ETS)

Main Pay Scale£ p.a.£ p.a.£ p.a.£ p.a.M1 21,588 27,00025,117 22,626M2 23,295 28,408 26,674 24,331M3 25,168 29,889 28,32526,203M4 27,104 31,446 30,080 28,146M5 29,240 33,865 32,630 30,278M6 31,552 36,387 35,116 32,588Upper Pay Scale£ p.a.£ p.a.£ p.a.£ p.a.U1 34,181 41,49737,599 35,218U2 35,447 43,536 38,991 36,483U336,756 45,000 40,433 37,795

Yes the more experienced teachers are on the higher scales, but they are becoming few and far between these days. NQT's are on less, as would be expected.

Uglymug

toshy wrote: »

I believe it has been a suggestion already put forward by the unions.
I know many of our members would prefer it as it gives them more control. We strongly suspect that the government is happy to have the pension payments going into a pot....our big question is what happens to it after that!

You could give it to your Unions to manage. If they then perform badly you could threaten NOT to go on strike.

toshy

Well thank-you all for an interesting time! I hope my input has helped to quell some of the antagonism against public sector workers and given you all a broader picture.
There are no real rights and wrongs in all this re private v public. It's just flagging up the differences between the two.
Its time the gaps were narrowed and I hope you all agree with that! I for one will be doing my bit to try to reach this goal. But I'm sorry...if I'm forced into taking strike action in order to achieve it, then strike I shall!
I'll check back tomorrow to see who else has slagged me off! he he!:rotfl:

kidmugsy

On this forum there are lots of queries and comments that suggest to me that public sector pensions are a ludicrously expensive way to attract and retain staff. If I were in charge, I'd safeguard your accrued rights and apart from that I'd close the pension schemes forthwith. Then by experiment I'd find what sorts of pay rises or pay cuts - or other changes in conditions - would get and keep the labour force I wanted. I'd guess that that would mean larger pay rises for some - e.g. people with rare skills, especially in expensive parts of the country - and smaller, or cuts, for others. My own inclination would be to try hard to keep individuals who've proved themselves to be reliable, loyal and competent, rather than taking punts on strangers: it's far too risky to cast aside experienced people with the right attitude. But be that as it may, the pension schemes are far too costly, especially as so many of the employees clearly have no concept of how expensive they are. Scrap 'em. In case I've not made myself clear, let me emphasise: every time a public employee denies how costly the pensions are (and therefore how valuable they are) the stronger he makes the case for scrapping them.

ani_26

It seems to me, we are all in the same boat, and the strike by the public sector, has highlighted what is happening across the board with pensions, and yes, it is a question of welcome, ( not wellcome), to the real world, public sector. The government is doing a job, of making us all responsible for thinking about our future, and our retirement pensions, because it is no longer sustainable from the taxpayer's pot, ( be it public sector pensions, or state pensions ).

Maybe the government, ( any government in office), still has'nt closed the gate after the horse has bolted, as the population of this country continues to rise, from all sources.


To the 25 year old deciding whether to sop their nhs? pension contributions, as all their mates have. As its been said, YOU will be the one who has the last laugh, as there will never be a convenient time to restart them, until its too late. You may even be able to consider retiring reasonably comfortably, at an earlier age than your mates. Who will have the last laugh, then?

2sides2everystory

sharnad_commenting_on_an_accumulated_£500,000_pension_fund wrote: »

You would need to be a higher office in charge of over a hundred people to get that for your pension

Er nope, a nurse could manage it over their career - jackyann will confirm. Mind you, I am sure they will have been in charge of the health of a damned sight more than 100 people by the time a nurse retires

they are linked to the CPI arent they?

Are you saying that's cheap to run? Cheaper than RPI sure, but index-linked anything ain't cheap.

Uglymug wrote:

... After 40 years they probably get a £20,000 per year index linked pension.

This pension is worth about £666,666!!!!! (2 thirds of a million pounds)

Yep, the devil sure is in the detail :rotfl:

sharnad_again wrote:

Im really going to have to get my pension statement out to look at what I am worth in my old age

If you are public sector then perhaps it might surprise you very nicely as things stood last time you got a statement