Autumn Statement

Thrugelmir

oldvicar wrote: »

Leave it a while and a final salary pension won't have gone up much if the salary hasn't increased.

Additional years of service enhance the pension more.

Thrugelmir

FTBFun wrote: »

Surprised no-one has started a thread about this yet:

That's because it has no impact in the real world of property prices and rents.

purch

Don't worry, by the time we get to 2026 the state retirement age will probably have risen to 70!

I feel better now :cool:

CLAPTON

Thrugelmir wrote: »

Additional years of service enhance the pension more.

well each additional year in a final salary scheme adds either 1/60 th i.e. 1.67% or 1/80th i.e. 1.25% to the pension

so if the choice is between a working with a frozen salary with the pension growing at either 1.67% or 1.25%
compared to retiring and having the pension increase by 5.2%

if one is above minimum retirement age it is a consideration depending upon the precise details

certainly when inflation was running at 20% is was a very serious option

rozeepozee

ruggedtoast wrote: »

Maybe I will. I've been thinking about getting a new job.

Maybe I'll take yours.

Are you sure you want a job in public relations?

Catslovelycats

With all the talk about recession, does it mean that interest rates are likely to go up - or is it not that simple?

Phil3822

Not really that simple but in terms of mortgage interest rates I doubt they will go up for a while. It's a guess though!

Catslovelycats

Thanks Phil.

You've read my mind - it was mtg I was thinking about primarily!

Graham_Devon

wotsthat wrote: »

Graham will be pleased.

I actually see very little point in it all.

Especially at a time like now. MPs etc are congratulating themselves about it, but it's just another private company raking it in, and the taxpayer yet again stumping up the cash to make sure the private company doesn't have to suffer.

It still leaves us with the highest bills in the country by quite some margin, and it's costing the taxpayer £35m a year. Yet South West Water made a profit of £132m last year, up 8.7% from the previous year.

I really fail to see any logic or point to it all. It's just another exercise whereby the state takes on more debt and the large companies make another record breaking profit.

robmatic

CLAPTON wrote: »

well each additional year in a final salary scheme adds either 1/60 th i.e. 1.67% or 1/80th i.e. 1.25% to the pension

so if the choice is between a working with a frozen salary with the pension growing at either 1.67% or 1.25%
compared to retiring and having the pension increase by 5.2%

Not quite, your benefit will increase by 1/N where N is number of years worked e.g. if you have only been in the scheme for 4 years and work an additional year, your benefit will increase by 25% regardless of the accrual rate.