Unions and Pensions

atush

Squiggybank wrote: »

I work for a university in admin, I'm not in a Union, I opted out of the LGP and have no intention of striking later this month.

I was rather annoyed to have just found out that I have to complete and return a form stating that I confirm I will work as normal that day. If this form is not returned by 29th they assume you are striking and dock your pay. The problem is I only found out about this 'form' when I over colleagues speaking about it, I was not included on the email distribution list. Me any how many others?

Also if you are unfortunate enough to be sick on this day you MUST provide a doctors certificate (they will reimburse you)

I just find it annoying that ordinary folk with no intention of striking could be penalised here if they did not receive the form or are sick but for one reason or another can't get the medical certificate. Surely it would be better to assume that staff are going to uphold their contract and come to work unless they say they are striking.

Sorry for the moan it just annoyed me a bit

I would warn your employers that they are being unfair in not informing you.

And having opted out, what are you doing for a pension?

Koicarp

dshart wrote: »

No one will be forced to work longer, it will just mean you will have to accept a lower pension to retire earlier. The same option private sector workers have.

Playing with words. We will have to work longer to get to normal retirement age.

I'm struggling to understand why they've gone to 1/60th, now it will be possible to get 75% of average salary pension. I don't believe I'd need that much in retirement. I'll have 15/60ths in on the new scheme, and add that to 19/80ths (+2/80ths bought with transfer in) from the old scheme at 60, which depending on the actuarial reduction doesn't currently look too scary. Once the new calculators go live I'll feed back.

CLAPTON

Squiggybank wrote: »

I work for a university in admin, I'm not in a Union, I opted out of the LGP and have no intention of striking later this month.

I was rather annoyed to have just found out that I have to complete and return a form stating that I confirm I will work as normal that day. If this form is not returned by 29th they assume you are striking and dock your pay. The problem is I only found out about this 'form' when I over colleagues speaking about it, I was not included on the email distribution list. Me any how many others?

Also if you are unfortunate enough to be sick on this day you MUST provide a doctors certificate (they will reimburse you)

I just find it annoying that ordinary folk with no intention of striking could be penalised here if they did not receive the form or are sick but for one reason or another can't get the medical certificate. Surely it would be better to assume that staff are going to uphold their contract and come to work unless they say they are striking.

Sorry for the moan it just annoyed me a bit

all things being equal then you must be very rich to be able to afford to opt out of the LG pension scheme

Koicarp

antonic wrote: »

As a civil servant I DO agree that I should have to contribute (I have had 23 years of not contributing so far!) AND I intend working till 62 (when I have done my 40 years in the Classic pension scheme when I would have done the maximum 40/80ths) but what I do object to is being asked to pay more when its going to the national debt NOT my pension !.

So I will be out on strike on the 30th !.

It's hard to have any sympathy when as you say you've paid nothing in for 23 years. When I talk about this down the pub everybody seems to think we pay nothing towards our pensions, when in reality it's just a few.
The sailor chap said somewhere earlier that we should be moving towards one pension scheme, and I agree with him.

dshart

Koicarp wrote: »

Playing with words. We will have to work longer to get to normal retirement age.

I'm struggling to understand why they've gone to 1/60th, now it will be possible to get 75% of average salary pension. I don't believe I'd need that much in retirement. I'll have 15/60ths in on the new scheme, and add that to 19/80ths (+2/80ths bought with transfer in) from the old scheme at 60, which depending on the actuarial reduction doesn't currently look too scary. Once the new calculators go live I'll feed back.

Your arguments seem to be based on what you will get now compared to what you would get before without looking at whether what you would get on the old system was affordable.

I just hope the government have got their figures right and the schemes are made affordable. But please do give us feedback when the calculators go live.

Koicarp

dshart wrote: »

Your arguments seem to be based on what you will get now compared to what you would get before without looking at whether what you would get on the old system was affordable.

I just hope the government have got their figures right and the schemes are made affordable. But please do give us feedback when the calculators go live.

I wasn't attempting to comment on whether it was affordable for the government. I don't buy the idea that the old scheme isn't affordable with increased payments from members.

dshart

Koicarp wrote: »

I wasn't attempting to comment on whether it was affordable for the government. I don't buy the idea that the old scheme isn't affordable with increased payments from members.

So what sort of figure increase would you be happy to pay to make it affordable. A figure acceptable to you may not be acceptable to someone else, they may want a lower increase but accept to work longer to attain the same goal.

I believe you have a set goal that you mentioned in a previous post and off course you would like a solution that would enable you still achieve that goal, there is nothing wrong with that. But your solution may not suit all.

Remember there is nothing stopping you paying as much as you want into an alternative private investment vehicle to enable you still attain your goal. The return may not be as beneficial as the same money in a public sector pension, but that is life.

Koicarp

dshart wrote: »

So what sort of figure increase would you be happy to pay to make it affordable. A figure acceptable to you may not be acceptable to someone else, they may want a lower increase but accept to work longer to attain the same goal.

I believe you have a set goal that you mentioned in a previous post and off course you would like a solution that would enable you still achieve that goal, there is nothing wrong with that. But your solution may not suit all.

Remember there is nothing stopping you paying as much as you want into an alternative private investment vehicle to enable you still attain your goal. The return may not be as beneficial as the same money in a public sector pension, but that is life.

Agree with all that. I'd be happy to double my contributions to keep the same deal, though as you say I understand that others may differ.
For me it is retirement age that matters, as my wife and I both come from families where parents haven't made retirement age. We are currently looking at stocks and shares ISA's, AVC's and or property to get to where we want to be, but it would be easier to work out what we should do if all concerned could get a move on and decide what is happening. In the meantime we are paying down our already small mortgage.

paparossco

StevieJ wrote: »

Good point could be long queues at the Docs on that day

Just as well the BMA are not balloting this time, nor the BDA so toothache might work as well.;)

atush

Koicarp wrote: »

Agree with all that. I'd be happy to double my contributions to keep the same deal, though as you say I understand that others may differ.
For me it is retirement age that matters, as my wife and I both come from families where parents haven't made retirement age. We are currently looking at stocks and shares ISA's, AVC's and or property to get to where we want to be, but it would be easier to work out what we should do if all concerned could get a move on and decide what is happening. In the meantime we are paying down our already small mortgage.

I see that retirment age is a big thing for you, and why. Although you share your parents genes, you may not share their lifestyle so hopefully have longer. My parents died one in their 50's and one in their 60's but both smoked heavily ( I never have) and had other lifestyle load factors. So I am planning on outliving them