Public Sector Pension Strikes – A JOKE !

chucknorris

Zelazny wrote: »

In a sane world, they'd have made provision for their own retirement. ...

I'm in the teachers pension fund and yes I have made OUTSIDE provsions for my retirement by starting businesses up, running them for decades and building them up then selling them.

Obviously I am also contributing to the teachers fund because it's a great deal, are you really expecting us to believe that if you were in a position to join the scheme you would refuse on a point of principle?

By the way I wouldn't dream of striking because my students need me to be lecturing not poncing about on strike.

cyclonebri1

CLAPTON wrote: »

absolutely meaningless

having you been drinkling

Errr, have you???, :rotfl:

J_i_m

Believe it or not I'm not mortally opposed to upping my pension contribution, I wouldn't overly object to the employer contribution dropping a bit. My main concern is when I do retire will I able to live comfortably? I think this is probably true for most of us. Essentially we all want the same thing in the end.

I would agree that there is something seriously wrong private pensions in general and it's clear many people feel hard done by. If my pension is altered in the name of affordability then it would be nice to know that it'd help improve the state pension for everybody. That's the problem though... There's no mention of that. It's effectively "hey those poor souls in the private sector have really sucky pensions, to make it fair yours should suck too!"

We really shouldn't be fighting amongst ourselves because effectively we're playing into the hands of the politicians who'll use any gimmick to distract us from the bigger picture. We need to stop bickering and claiming that we provide each others wages and instead lobby the government to say "Oi! Things aren't quite right, what can we do about it?"

CLAPTON

cyclonebri1 wrote: »

Errr, have you???, :rotfl:

well, actually yes but only red wine which of course is totally affordable

jem16

howee wrote: »

Yes teacher paying all 20% is fine with me as a taxpayer, how would it not be.

You tell me.

but no I don't see a reason for the extra 14% in her pay packet. Nice idea I would suggest it to my employer but I live in the real world lol.

The real world is that the teacher accepted a package that included a pension contribution from the employer. Remove that contribution and you remove the terms of the job signed up for. Would you be happy if your employer reduced your wages by 14%?

What I would like to see is public sector pensions, contributions and retirement age pegged to the average private sector pension scheme. Not better no worse.

When I signed up, the average private sector pension was better than mine as was the actual wage. Don't remember anyone saying then that it had to be equal.

Old_Slaphead

CLAPTON wrote: »

I thought your point was that 1.6% of GDP for public pensions was unaffordable

my answer was relevant to that question
clearly 1.6% of gdp is completely affordable (although it may not be fair) in the context that pensioners make up 20% (and rising ) proportion of the population

I invite you to say what you think is affordable and what is fair.

The 1.6% of GDP (which equates to over 3% of total tax take) refers to public sector pensions not state pensions (that's several more % on top).

At that level it will exceed spending on Education and Defence (not combined though).

That amount is being paid to employees, in the main, who've benefited from above average salaries.

This, to me, seems generous to the point of extravagent.

Public FS pensions were introduced to compensate for years of alleged low pay in public service - this is clearly not the situation now.

atush

chucknorris wrote: »

I'm in the teachers pension fund and yes I have made OUTSIDE provsions for my retirement by starting businesses up, running them for decades and building them up then selling them.

Obviously I am also contributing to the teachers fund because it's a great deal, are you really expecting us to believe that if you were in a position to join the scheme you would refuse on a point of principle?

By the way I wouldn't dream of striking because my students need me to be lecturing not poncing about on strike.

I agree (and as aformer scientist did do teacher training as was thinking of entering) I too would join the scheme, even as it is now.

I would agree that there is something seriously wrong private pensions in general and it's clear many people feel hard done by.

One thing that would be HUGE help to get private pensions back on track is to withdraw the divend tax as many of us made initial projections thinking that we would not be paying this 10% tax. Simples.:)

sheffield_lad

jem16 wrote: »

You tell me.



The real world is that the teacher accepted a package that included a pension contribution from the employer. Remove that contribution and you remove the terms of the job signed up for. Would you be happy if your employer reduced your wages by 14%?



When I signed up, the average private sector pension was better than mine as was the actual wage. Don't remember anyone saying then that it had to be equal.

My employer DID change the conditions of my pension, remember in real world final salary pensions have gone lol.

Try, losing final salary, going to defined pension with no contribution from my employer (of over 10,000), then paying in 10% for 1/68th when I retire at 68.

Sound good? and none of us threatened to withdraw our labour we accept this is the real world where things can't be borrowed forever and need to be affordable.

cyclonebri1

CLAPTON wrote: »

well, actually yes but only red wine which of course is totally affordable

Then we are in agreement on one aspect of life at least, , without it the cap would be throw in.

Old_Slaphead

atush wrote: »

One thing that would be HUGE help to get private pensions back on track is to withdraw the divend tax as many of us made initial projections thinking that we would not be paying this 10% tax. Simples.:)

And how about not having to buy an annuity or note having drawdown maxed at 100% annuity rate.