Incensed again

julieq

There'd be a net benefit to the residual UK without revenue from North Sea oil, amusingly. If I remember right, the net tax take in Scotland is £45B against spending of about £54B, take back the tax from North Sea Oil and you appear to have a surplus until you figure out you also have to pay interest on about 10% of the UK net debt.

We'd fill the £10B hole by not having to pay you £10B basically and with about £4B annually in saved interest payments on top. I'd take that. Also England would have the government it wants without being distorted by Scottish votes being bought by subsidy.

Good luck if you go for independence anyway. You could well end up as rich as Norway. Or Iceland. Or Eire. Or even Greece.

Worth taking on the point about manufacturing too. Germany has a strong manufacturing base, true, but the structure of the country financially is different - more privately owned companies - and the bigger ones are manufacturing overseas anyway. If you look at the value chain of manufactured goods, very little is added in the basic manufacturing phase, most of it comes later. So really it's not unreasonable to concentrate on high efficiency value adding forms of industry, which basically is where Thatcher pointed us.

Anyway back to pensions. Someone said that the public sector pensions were sustainable but that the money was siphoned off. Rubbish. But if it's true there's a simple solution which is to take all contributions and invest them, i.e. a private pension scheme. If you're right it'll be sustainable and give you the same benefits. You'd be mad to try it though.

longleggedhair

afc80 wrote: »

It was in his election manifesto (the date for the referendum), and yes it is going to be close. We will go when we think we can win.

The media in Scotland is almost universally Labour and unionist.

Labour hacks masquerading as journalists are all over the odious BBC spinning scare stories and the print media are also in the hands of these people.

Even with all the anti Scottish propaganda independence will come, it is a matter of time.

I beg just one thing, please don't send Nicky Campbell, Lorraine Kelly, Gordon Brown and Andrew Neil back to us?

One other thing, I have many friends who are English, Aberdeen is full of English due to the wealth of the area, even they vote for Alex Salmond.

Haha! Well perhaps you could ask Alex to ban them, add a few more feet to Hadrians Wall!

As I said I rather hope Scotland wins its bid for independance. We can become good neighbours. And the English would never have another Labour government forced on them they don't want.

I have many friends in Scotland who are Conservatives but who vote SNP to keep Labour out, as I probably would. However I fear Scottish independance is a pipe dream...we will see.

stedwell

Going back to the original post - no teacher earns £37k for 40 years that is impossible as it is the top end of pay scale. I have been teaching for 24 years and I now earn 37000. My latest predicted pension was 9K and not 25k a year. It is not likely to get much better. Also this is not about a private v public argument. That is exactly what the government wants us to do -fight amongst ourselves. This is about the fact that the government have refused to carry out the latest review of teacher pensions - and why? Well they are not under performing. In fact they are on course and need no adjusting. The unions are presently trying to sue the government as they have acted illegally by not carrying out our review. I have paid a lot of money into my pension although you would think it came free if you believe the media. I refuse to have my money taken away from me by the government to pay for the debt this country is in. That has nothing to do with me or my pension.

MoreOn

Old_Slaphead wrote: »

What's difficult to understand about a 1/60th pension accrual for each year worked.

Someone working 40 years on £35k pa therefore gets £35,000x40/60 =£23,333pa pension.

The only difficulty is my local college lecturers start at 18500 and top of the scale is 30500 approx


Even my local university lecturer.. is someone does a degree master then PhD (so that would me 10years in eductaion assuming p/t PhD over 6) would start on 29500 ...

All this 40 years on 35k lark is pure spin... headline figues and playing the power things...

If they wanted to change things, why don't they change it for all the new entrants...

MoreOn

stedwell wrote: »

I have paid a lot of money into my pension although you would think it came free if you believe the media. I refuse to have my money taken away from me by the government to pay for the debt this country is in. That has nothing to do with me or my pension.

Robert Maxwell!!

stedwell

"All this 40 years on 35k lark is pure spin... headline figues and playing the power things..."

Absolutely! Why do people believe it?????

afc80

Your 9,000 predicted pension is you pension as at the end of the last financial year and is what you what get, yearly increases aside if you left your job at that point.

If you work till retirement you will have a pension comparable to 2 thirds of your salary in your last year of work (under the current arrangements)

You will also have a state pension (which is getting more generous) and you will have a lump sum.

You will have a comfortable retirement and be much better off that the vast majority of the public whatever the result of the latest pension stand off imo.

MoreOn

michelle1506 wrote: »

longleggedhair wrote: »

As others have said you will still get a damn good pension which people in the private sector can only dream of. I hope the gov sticks to their guns. Let the public sector go on strike, it will help reduce the wage bill.

Do you not see what is happening in Greece. God forbid the Labour pary had been elected in 2010 we would be on the roadto becoming another Greece. The present gov is giving us some short term pain, but this will ensure a better future for us and our children.

Bottom line is-if you dont like it in the public srctor, leave. There will be 20 people behind you waiting to take your job.[/QUOTE]

Please don't put words in my mouth - Your words not mine!

Erm there isn't enough people with my quals... fancy losing 750k in other income to get it?

bigfreddiel

cyclonebri1 wrote: »

The maximum my tight assed company would allow me to do?

well cyclonebri1 if you don't like your "tight assed company" why don't you get a job in the public sector?

cheers

fj

stedwell

My husband is 52. He has taught for 30 years. His prediction last year was 11K You are telling me that in just 13 years (when he is 65) his pension will be double? I don't think so. In fact the value of our pension will be 15% less due to the lower CPI indexation. Why does there have to be this feeling that we have to kick anyone who is standing up for their rights? There seems to be the feeling that if I can't have it then neither will you. Government must be laughing their socks off we play straight into their hands with all this bickering when as workers we should be supporting each other.