Problems with my pensions department with Transfer value requests

Pixieboy

OP, based on your assessment of 3% extra, I assume you are on just shy of £25k.
You are probably already paying 6.5% and the proposed increased rates being put forward by Dept for Communities & Local Government are
Apr 2012 7.2%
Apr 2013 8%
Apr 2014 8.3%
Have a look here http://www.communities.gov.uk/news/localgovernment/2004263

There is anti union bias sometimes, but this isn't really the case in this thread.

We just want you to think this through rationally as there seems a very real risk of 'cutting off your nose to spite your face'.

atush

I have a knife spare.

Linton

majorwally wrote: »

Well, that's cleared that up!

I don't think you guys quite get me.

My contributions are going up 3%, yet I didn't ask for this and I get nothing extra for all those extra payments. Yes, I still get the pension when i'm 85 or whatever, but this wasn't the deal when I signed up. Nobody ever said "oh by the way, we will just keep raising your contributions until you drop out"

3% for me is £62 per month so just like pay cut of that amount.
Why must I have pay cut?
I didn't cause the crisis, or did I?

No point in complaining to us, we cant do anything about it - the change has happened you have three choices:

1) Pay the extra
2) Leave the scheme and be worse off than if you had chosen option 1
3) Find a job in the private sector and get an even worse pension deal.

So it's up to you.

sandsy

majorwally wrote: »

My contributions are going up 3%, yet I didn't ask for this and I get nothing extra for all those extra payments. Yes, I still get the pension when i'm 85 or whatever, but this wasn't the deal when I signed up. Nobody ever said "oh by the way, we will just keep raising your contributions until you drop out"

Term and conditions aren't set in stone in any job. When they change, employees have to decide if they will carry on or move on somewhere else.

Fact of the matter is that your pension currently is being subsidised by the average taxpayer in the street - to the extent that the average taxpayer in the street can't afford to save anything for their own retirement. The proposed changes aim to change the balance of that ever so slightly by making you contribute an extra 3% yourself. It's still a brilliant deal!

majorwally

sandsy wrote: »

Term and conditions aren't set in stone in any job. When they change, employees have to decide if they will carry on or move on somewhere else.

Fact of the matter is that your pension currently is being subsidised by the average taxpayer in the street - to the extent that the average taxpayer in the street can't afford to save anything for their own retirement. The proposed changes aim to change the balance of that ever so slightly by making you contribute an extra 3% yourself. It's still a brilliant deal!

OH God help me, here we go. The old taxpayer pays your pension argument.
The average taxpayer also pays for illegal wars, benefits to people that have never worked a day, MP's that hardly make any decisions anymore, etc, etc.
So don't give me that one. The taxpayer has been paying my wages because he needs my services.
Have you ever used the NHS?
i bet the next time you desperately need it, you won't moan about the tax payer paying all those wages and pensions. Oh, maybe you will be the selfish muppet you obviously are.

majorwally

atush wrote: »

I have a knife spare.

Perhaps you could sharpen it on your wit then?
Watch out for carotid artery though, wouldn't want you to slip or anything!

majorwally

Pixieboy wrote: »

There is anti union bias sometimes, but this isn't really the case in this thread.

Yes, I'm getting the picture load and clear.

Maybe Martin should rename his web site to "moneysavingexpertsalsoincludingantiunionsadselfishpatheticweasels.co.uk

atush

I am a former research Scientist and know my anatomy thank you very much. Who do you think helped develop the first AIDS test and first sero-epidemiology screenings? I am sure I could find your artery with my knife ;-)

What I can't find is your heart or brain. As we were REALLY trying to help you come to the right decision. IN your best interest, not ours which would be for you to stop paying in. So if I was a selfish git like you, I would say STOP PAYING IN but i am not selfish and wanted the best for you. I know you are upset at having to pay more, I am upset with having to save more and pay 12K higher tuition per year for my twins starting Uni next year. Life is hard for all of us, but will be LESS hard for you if you keep paying into your pension.

But you obv don't care about others trying to help you. Maybe you have no compassion like those nurses mentonned inthe BBC this am, leaving old people to starve and dehydrate in their beds?

Raggie

Why would you leave a public scheme.

My wife started her first pension when starting work in local government 4 years ago.

I started mine 18 years ago.

I earn 4 times her.

Her pension statement came the same month as my private pension this year.

Her estimated annual pension at retirement was more than my projected figures.

She is 2 years younger.

I have been paying to a private scheme for 14 more years.

Yet she is going to be better off than me unless I significantly increase my payments.
Currently 10% of my wage btw.

I would love a pension as good as hers!

The_Angry_Jock

majorwally wrote: »

Yes, I'm getting the picture load and clear.

Maybe Martin should rename his web site to "moneysavingexpertsalsoincludingantiunionsadselfishpatheticweasels.co.uk

You really paint a picture of someone deserving of much praise for the 'services' they provide :money:.