Generational Inequality

ukcarper

MyOnlyPost wrote: »

I am by no means an expert but it may be higher than you consider as I think the whole of the Civil Service used a DB pension scheme for 30 years

I agree I would have thought it would higher than 1 in 6 as you say most of the public sector are in DB schemes.

molerat

PasturesNew wrote: »

Those are different products. What if it's the same product?

If I make widgets I can give you a job in my factory and pay you £10/hour as a supervisor, while your family can be employed at £7.20/hour working under you. I can have a nice house and lots of holidays.

Or ... I can close that factory, outsource to the 10p/hour areas, get rid of you and your 5 family members and spend £120k/year on my second home and more world travelling, entertaining and keeping the wife in handbags/shoes.

I used to think the transport cost would be huge but I was watching a programme the other week where they stated it costs around 10p to ship a TV from china, peanuts in the big picture.

Thrugelmir

molerat wrote: »

I used to think the transport cost would be huge but I was watching a programme the other week where they stated it costs around 10p to ship a TV from china, peanuts in the big picture.

Now shipping by rail to Europe. As it's even cheaper than container.

davomcdave

ukcarper wrote: »

I'd love to see some figures showing how many pensioners get a final salary pension. I keep in contact with 5 of my school friends, I'm the only one with a final salary pension.

This is the best source of data on pension scheme membership:

https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/pensionssavingsandinvestments/bulletins/occupationalpensionschemessurvey/2015

I don't think it actually has the information you're after though but you might be able to infer it if you go back through the time series. If we're dealing with anecdote then my mother retired on a defined benefit pension and my father with both a defined benefit and defined contribution pension.

I know loads of old people that retired on DB schemes and all the young and middle aged people I know that aren't in the public sector or teaching in private schools are now in DC schemes. In many cases they were bullied by their employer into giving up DB scheme membership, in at least one case being threatened with the sack if they did not give up DB membership 'voluntarily'.

ukcarper

davomcdave wrote: »

This is the best source of data on pension scheme membership:

https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/pensionssavingsandinvestments/bulletins/occupationalpensionschemessurvey/2015

I don't think it actually has the information you're after though but you might be able to infer it if you go back through the time series. If we're dealing with anecdote then my mother retired on a defined benefit pension and my father with both a defined benefit and defined contribution pension.

I know loads of old people that retired on DB schemes and all the young and middle aged people I know that aren't in the public sector or teaching in private schools are now in DC schemes. In many cases they were bullied by their employer into giving up DB scheme membership, in at least one case being threatened with the sack if they did not give up DB membership 'voluntarily'.

I've looked at that before it doesn't show the figures. It looks like thier are about 5.9m people in receipt of a private sector pension and 4.5m in receipt public sector pensions, not all of the DB pensioners will have a full pension some might have only worked in a job that provided a DB pension for a few years, others might 2 or more DB pensions.