Average teacher pension £10k....

ukjoel

geordieracer wrote: »

Noone mentioned 26K in this thread.

the point the OP was getting at was the direct figures that the NUT had quoted for a teacher receiving a pension if they had done their time.

Erm post 3 The bit where the poster says

The average for a full time teacher was something like 26k last year.

hoppen1

if they dont like it just line them up and shoot them.

Spiderham

One thing I think has been missed is that public sector workers aren't asking for bigger pensions, they are asking for their values not to be hugely reduced while halfway through their career. While I am very unsure of my views on the strike, I can sympathise with the views of being ripped off if they are likely to have their pensions greatly reduced. In their sectors there is only one employer so they can't find another provider offering a better deal.

Generally public sector workers earn lower salaries than those in the private sector with roles requiring similar levels of education, qualifications and training. The flip side has always been greater job security and better provisions for retirement alongside the "public duty" nature of the role. If you start hacking away at the benefits, you're really going to struggle to find high quality teachers etc.

hcb42

they are not being asked to give up a massive amount of pension. THey just have to pay a bit more in, and work a bit longer. That is reality for everyone.

ThumbRemote

antrobus wrote: »

And pray what efforts have the unions made in recent years to extend the benefits of public sector pensions to workers in the private sector?

What do you mean? In companies with union representation those unions will have stood up for their members.

Do you think the unions should be spending their time fighting for the rights of non-members?

ThumbRemote

hcb42 wrote: »

they are not being asked to give up a massive amount of pension. THey just have to pay a bit more in, and work a bit longer. That is reality for everyone.

That is not the reality for everyone.

When I took a job it had a pension scheme. My contract states that I make a contribution, and my employer also makes a set contribution. My employer is not allowed to suddenly decide to change the rules part way through.

kilapot

hcb42 wrote: »

they are not being asked to give up a massive amount of pension. THey just have to pay a bit more in, and work a bit longer. That is reality for everyone.

You have to be carefull what facts and figures you listen to. I am a teacher, I currently pay 6.4% contribution. They want my contribution to rise to 9.6%, that's a 50% increase which will see me worse off by £90 a month or £1080 a year. On top of my pay freeze for two years whilst inflation is at what 4.4%.

Additionally I will need to work 6 years longer, and gain a lesser pension. My pension remains calculated on years of contribution divided by 80 to calculate if you like the % of the final/average salary received in retirement. Oh life expectancy of teachers who retire at 60 is quite good, those who retire at 65 have a very short life expectancy. The job though rewarding is stressfull, in future teachers might cope better as we all understand the effects of stress on our health better.

What irks teachers is that our pensions were negotiated in 2007. Our pensions like many public sector pensions are glorified ponzi schemes. There is no pot of cash, the current retired teachers are paid out of my and the governments contributions to my scheme.

The problem which all this cost/pension debate understandably those in the private sector many of whom choose not to be in a pension scheme are jealous because their companies treat them like [EMAIL="!!!!"]!!!![/EMAIL]. Unless you are in the boardroom and you get massive rewards even for failing!

Likewise the MP's get to choose their own pension the can earn their pension over 40yrs (10% contribution) or 50 years (5%). Hmmm 5% seems a very low contribution over just 50 years. I read somewhere their employer contribution runs at 31.6%. Which is interesting as the government keep moaning that teachers get 13.5%.

Two issues here teachers earn far less than MPs on average (whether you use mean or median), so that 31.6% contribution is likely to be six times what they contribute to a teacher. Obviously there are far more teachers than MPs.

My union mentions that the government haven't 'valued' our scheme, what they mean by that is under the current payments (agreed 4 years ago) of 6.4% and 13.5% contributions is the scheme paying for itself? If that is a yes then this is a simple raid on pensions, if no under the agreement made in 2007 teachers would raise their contributions and the governments remain at 13.5% as per agreement.

Off track someone moaned about our holidays, simple quit your job and train to be a teacher if you want long holidays. Or reform the holidays and pay teachers more (teachers pay is based on a working year of 195 days, moan again if you wish or come and teach) those are the days we are in school and a working year of 1265 hours so roughly 6.5 hrs per day. I'm not moaning but I don't think any teacher can perform their role based on a 35.5 hr week.

You have to ask yourselves another question there is a shortage of teachers despite these great benefits, pay, long holidays, great pension.... how bad will the shortage be if the terms and conditions aren't retained? Compare to other public sector jobs wasn't there some crazy stat that for every firefighter job there were like 250 applicants per post (might be lower couldn't find a reference on internet).

My last point comes almost full circle..... the government seem very adept at getting us to be critical of each other or is that human nature?

Andy_L

vax2002 wrote: »

They work 25 years pension adds 10 years
so 35 years at contributions avg £2400 pa = £84000 fund
roughly equates to
Lump sum of £28,500 and pension of £1320 per month for life payable at 60.

No idea what you mean?

A teacher who works for 25 years will, if they joined in the last 5ish years get 25/60ths pension at 65
If they joined before that then they will have a mixture of the above and a 1/80ths + 3x lump sum payable at 60