What is the maximum they can make you contribute to pension?

majorwally

gadgetmind wrote: »

OK, here is an experiment, and I do urge you to try it. Go to a pensions calculator such as the one on the Hargreaves Lansdown web site. Punch in your numbers and see what sort of a pension 6% or 9% contributions gets you. It will be very, very small. Now try with the 25%-30% that those who have to fund their own pensions have to contribute unless retiring in poverty appeals. The numbers will look slightly better but still not a patch on the value for money you can get by having the tax payer fund your pension for you.

So, in summary -
1) Leaving your public sector pension scheme will be bad for your wallet but GREAT for tax payers, so I vote you do it.
2) Stop complaining. I don't blame anyone who rides the gravy train as far and fast as they can, but let's just say that complaining about the buffet service to those trudging alongside won't get you much sympathy.

Oh, not the old "taxpayer pays for your pension routine"
The taxpayer has been paying my wages for years so why the massive concern all of a sudden?
Do you use any of the public services.
Have you ever needed the Police, Fire, Ambulance?
Where you not very grateful for the professional way you were treated?
Have you ever needed the NHS?

Were did you get educated?

So the taxpayer pays for my pension, so what?
If they didn't I would go cap in hand to the taxpayer for state hand outs, which is best.
As a private sector you might have to do this and will I be shouting "Noo, it's unfair to the taxpayer"?
No of course not, because you have probably paid your taxes all your life.
So sick of this!

Plus, taxpayers pay for all sorts of things, Mp's expenses, partying, hiring of their wives and families, benefits, war.
Those are the obscenities to me, not someone's pension who has worked all their life to provide a service.
Get a life mate.

gadgetmind

majorwally wrote: »

Were did you get educated?

Well, doesn't that sum it up nicely!

Old_Slaphead

majorwally wrote: »

I contribute 6% into my pension scheme, yes, I'm public sector-(Boooo-hiss)
Looks like we have a 3% contribution rise on the way (which I can't afford) so I'm thinking of dropping out.

If you go ahead on behalf of taxpayers everywhere I'd like to applaud you, sir - you would be certainly living up to your name

The extra 3% is 2.4% net of tax. If you drop out you'll probable have to contract back into state scheme which will cost around 1.6% so you'll probably be not much better off - but we the British taxpayer will be. Thank you.

dunstonh

Oh, not the old "taxpayer pays for your pension routine"
The taxpayer has been paying my wages for years so why the massive concern all of a sudden?

In the past, the wage of the average public sector worker was low. The pension was seen as a reward for public service and a life on lower wages than a private sector worker. The Labour years saw significant increases in public sector workers remuneration in relation to the private sector. So, that is what has changed.

As a taxpayer, I am quite happy for you to drop out of the scheme. You are the only one going to lose out and taxpayers will gain (and with pension credit proposed to be abolished you wont be paid there either). However, it would be a very bad decision on your part.

atush

So, have you trimmed your spedning so you can stay in?

Or are you just gonna fight w/others here?

Your new pension is still a good deal, and you need to retire on something. So trim your spends and stay in.

ermine

Looks like we have a 3% contribution rise on the way (which I can't afford)

Oh, not the old "taxpayer pays for your pension routine"

You, sir, will never get anywhere on this troubled earth until you take responsibility for YOUR frickin' decisions rather than blaming others for your predicament.

You have excellent pension provision. You are clearly overspending if you can't afford the extra required to make this less of an unreasonable burden on the rest of us, and you need to sort your life out. Geddit? The reason you aren't getting as much sympathy for your predicament is because you are in a hole of your own making, and you are about to screw all your tomorrows for your todays. We're asking you to not do this to yourself, but we aren't so chuffed because we do pay for your pension and your salary. We're just not so nasty as to agree with you that it really is all so unfair and you should quit your excellent pension scheme forthwith.

Were did you get educated?

The public sector teachers in my day clearly did a better job for me than they did for you Since you did make the point about the excellence of State education, it's Where, !!!!!!...

CLAPTON

it seems to me that it would be a good idea if all salaries should be quoted grossed up for benefits

so if a teacher (say) earns 25,000 and the pension is considerd to be worth 20% in addition then the highlight salary ought to be quoted as 30,000pa

similarly if a private sector worker had a salary of 25,000 and a pension with 10% employer contribution and say 3,000 car benefit then their highlight salary should be quoted as 30,500pa

This would greatly aid transparency of true salary value in relation to both pension and other benefits; who knows it might encourage employers and employees to favour pensions over other BIK.

robmatic

CLAPTON wrote: »

it seems to me that it would be a good idea if all salaries should be quoted grossed up for benefits

so if a teacher (say) earns 25,000 and the pension is considerd to be worth 20% in addition then the highlight salary ought to be quoted as 30,000pa

similarly if a private sector worker had a salary of 25,000 and a pension with 10% employer contribution and say 3,000 car benefit then their highlight salary should be quoted as 30,500pa

This would greatly aid transparency of true salary value in relation to both pension and other benefits; who knows it might encourage employers and employees to favour pensions over other BIK.

Agreed. If job advertisements quoted total remuneration rather than salary people would be able to make a valid comparison.

bendix

I think the OP should drop out of his public sector pension. In fact, I think we should use the public sector's prevailing whinging attitude at having to pay a small increase (much less of course, than the private sector) to encourage every public sector work to give up their pension rights.

It's our duty as publicly minded citizens.

dtsazza

Majorwally - it's very simple. Take a look at what pension benefits you could get with your contribution elsewhere, and if it's better, put it there instead.

CLAPTON wrote: »

it seems to me that it would be a good idea if all salaries should be quoted grossed up for benefits.

That's exactly what I do already - well, certainly for pension contributions which is just money at the end of the day. A company car/private healthcare might be more contentious, because it may cost £3000 but be of almost zero value to you. The comparability starts to break down if you wouldn't have spent a direct £3000 pay rise on the same things.