Public sector wellcome to the real world

Old_Slaphead

bigjl wrote: »

I don't want to burst your bubble but I pay over £400 a month into my pension.

It is only a 1/80th scheme so not exactly big money.

I make £34.5k a yr including London Weighting and unsocial hours allowance.

You pay over 14% of your salary in pension contributions for a 1/80th scheme ?

Is there any reason why or are there any particular features of your scheme that make it significantly more expensive than other public sector schemes?

RichandJ

Old_Slaphead wrote: »

You pay over 14% of your salary in pension contributions for a 1/80th scheme ?

Is there any reason why or are there any particular features of your scheme that make it significantly more expensive than other public sector schemes?

Ditto. I thought the highest contribution rate (I stand to be corrected by a valid link) was 11% for the Police & Fire schemes.

bigjl

What??

So two persons that don't work for the public sector don't know everything about them, now theres a surprise.


It is best to not listen to the rubbish spouted by politicians really.


Public sector, or in my case NHS Pensions are not the £5 a month pensions that some people with an axe to grind may make you think.



I am not going to post a link as actually my life isn't available on Google.


Even if you check all the NHSBSA website you will find that it doesn't actually go into much detail.


I can however confirm that from a top line of just over £2800, I take home £1854 on a flat month where there is no incidental O/T or any subsistance/mileage claims.


There are certainly some income tax benefits from paying the pension contributions that i do. But I do wish some of you chaps in the private sector can explain why they keep on taking tax and NI from my wages, after all you keep on saying that only private sector tax payers pay for my pension, so still can't figure out why I pay tax and NI.


According to some it seem that only the private sector pay such things.


Anybody with any common sense can see this is just a diversion tactic to put working man against working man( or woman), pretty much a tactic of divide and rule.

It wasn't the public sector that screwed your private pensions, it was the stock market and economic downturn.


I remember people telling me about how much better the returns on their private pension where in comparison to my guaranteed but limited return NHS Pension.


Well, as the IFA said, investments can go down aswell as up.


Would private pension holders be moaning if their pension had performed twice as well as forecast?


No, they wouldn't.


Why take out your anger on those that took guaranteed returns instead of risking it for a possible bigger pension at the end.


You are just like those people that thought they were clever with an Endowment Mortgage, laughing at all those mugs with safe but more costly repayment mortgages, when the Endowments didn't pay off the mortgage the same type of person suddenly became vocal.


Any investment is risky.


Nothing stopping you joining the Public Sector.

dunstonh

Public sector, or in my case NHS Pensions are not the £5 a month pensions that some people with an axe to grind may make you think.

NHS contributions are not 14%.

8.5% is the highest (for higher earners), Most NHS workers find themselves in the 5% or 6.5% band

http://www.nhsbsa.nhs.uk/Documents/Pensions/Cost_and_Contributions_Factsheets-_All_NHS_Sheme_Members.pdf

bigjl

Yawn, obviously that generic roughguide webpage knows more than my payslip.

Ever though for a second that some people purely due to the fact that they pay for something every month may just be in a better position to know certain things.


I pay exactly what I have said for my pension, just over £400 a month, I do this to ensure I have a decent retirement.

If some chose to pay the minimum or not use the full facilities of the pension they are given then bad luck on them.


You will also note in that link that you have put up that the additional contributions are paid by my employer, not the taxpayer as such.

Is it the fault of the public sector that you have allowed your pay and conditions to be reduced?

More likely the fault of the last Labour government.

Lets not confuse normal hard working public sector workers with London Underground Tube drivers as they are thoroughly overpaid and always have been due to the fact they strike every other month.

Why was there not such an outcry when those greedy sods cost the economy millions with their petulant demands?

Every NHS job is paid at a rate that is set by independant evaluation, though a lot of NHS jobs actually got given one pay band less than they qualified for under A4C, the reason for this was money.

I have also had an effective pay freeze since 2009, as have most NHS workers.

So this continual uninformed battering of the public sector is wrong.

For example why are we not talking about cutting MP's Pensions, or Local Government bosses very generous pensions?

They are the ones with the unaffordable pensions.

How is is fair to expect a teacher to agree to T&C of employment, work for 30 yrs and looking forward to retirement in 10 yrs. Only to be told that uncapped immigration and the benefit claiming career underclass are costing far too much money so they have to pay more for their pensions and work longer to allow the government to continue to pay for the benefit underclass and all the Eastern European children living abroad that are now entitled to child benefit due to one or both of their parents working for a period of time in the UK. Maybe they have gone home but are still claiming benefits of one fomr or another, job seekers for example.


No, much better to blame the public sector pensions due to the fact the government has wasted all the money and the Banks lost what was left by backing a three legged pony.

bigjl

The_White_Horse wrote: »

i think, having read this thread, that we can all agree that the public sector workers are greedy grasping filth who have no idea how anything works - having never created anything in their miserable insulated lives. they have no idea what the value of money is. they are the lowest of the low. they should all have a 30% pay cut across the board and be forced to make larger pension contributions into defined contribution pensions. if they don't like it, they can work in the private sector. they would last all of 3 minutes. bunch of mardy jokers.

Well, I must say that your teachers definately failed you going by how you have written that post.

Funny how people with private pensions never said a word when they were working out well, out performing expectations etc.

The word I think we are looking for is jealousy, simple as that.

I took a 40% pay cut when I joined the NHS ten years ago.

I accepted that even though short term I was worse off I worked upwards of 100hrs O/T every month.

Today I sit here reading this thread full of lealousy and bitterness, look at my payslip and realise that I still earn less than before I joined the NHS.

It was a sacrifice I was happy to make as the T&C were far superior, even though pay was less and the job was a lot more stressful and physically taxing.

The simple fact is the private sector are not in a position to see where this country wastes money hand over fist every day, or the underclass that are the true reason for the excessive drain on the public purse.


There is nothing stopping any private sector worker doing what I did other than the ability to get accepted. Many people do as I did every year, at my workplace there is an ex Trader from the Liffe exchange, a very intelligent bloke, that works in the public sector in an effort to put something back into society, he is a member of the pension scheme aswell, mainly due to the fact that membership also gives you a lump sum if you die in service.


But don't worry all you private sector bods, the NHS will be getting privitised bit by bit over the next 10 yrs, starting with the Emergency Ambulances.

So be very careful what you wish for, you might just get it:rotfl:

cyclonebri1

bigjl wrote: »

Yawn, obviously that generic roughguide webpage knows more than my payslip.

If some chose to pay the minimum or not use the full facilities of the pension they are given then bad luck on them.


I have also had an effective pay freeze since 2009, as have most NHS workers.

So this continual uninformed battering of the public sector is wrong.

.

Hmm chap, I mostly agree with your sensible posts but had you made it clear rather than play on the issue that your pension payments included "additional voluntary contributions" in effect, you wouldn't have attracted the flack.

And I have to add do you not think the the private sector hasn't had the same absolute pay frfeeze for that time or probably longer?, I've got news, we have had.

As the man said "we're all in this together";)

dunstonh

Yawn, obviously that generic roughguide webpage knows more than my payslip.

Ever though for a second that some people purely due to the fact that they pay for something every month may just be in a better position to know certain things.


I pay exactly what I have said for my pension, just over £400 a month, I do this to ensure I have a decent retirement.

If some chose to pay the minimum or not use the full facilities of the pension they are given then bad luck on them.


You will also note in that link that you have put up that the additional contributions are paid by my employer, not the taxpayer as such.

So, your contributions include additional voluntary contributions. The voluntary contributions are not the part that is the issue. The fact is that you are not paying 14% for standard benefits and it is the standard scheme benefits/cost that is the issue.

Koicarp

bigjl wrote: »

I accepted that even though short term I was worse off I worked upwards of 100hrs O/T every month.

How do you manage 100 hrs O/T? are you part time?

JoeCrystal

Koicarp wrote: »

How do you manage 100 hrs O/T? are you part time?

Quite easily. In my job within private sector during Christmas production period, I did break 100 overtime hours within a month . by working late and weekend. I am assuming bigjl did the same.