Civil Service-lump sum or annual pension max? Lump sum investment options

zagubov

I'm not sure that the civil service and police pensions have the same commutation rate. On another thread I think someone said the police one has a 20:1 rate.

Maybe if your thinking of getting an increased lump sum, the police pension might be a better deal. But you need to consider it carefully, as you would permanently lose pension income, and you probably can't change your mind once you've submitted your pension request.

Plus I gather people retiring at 60 are often looking at almost 30 years of retirement nowadays.

woolly_wombat

Muscle750 wrote: »

John O'Connell, chief executive of the TaxPayers' Alliance, said: "Workers in the private sector are paying for their public sector counterparts to enjoy a retirement they can only dream of, and that disparity has been brutally compounded over the years by politicians continuously launching raids on private pensions.

Good job Mrs Muscles has Local Government pension then eh

mgdavid

Muscle750 wrote: »

So if you have 43 years service and planning to retire at 60 means that you started at 17, however you mention also a pension from the plod am i missing something here or did you start with them at 8 years old! ..........

You may well have missed something; I inferred the plod pension came from the ex as a result of a Pension Sharing Order due to the divorce

Muscle750

sham63 wrote: »

Yawn.......:whistle:

The truth................end of.

Muscle750

Be interesting to know what the percentages are in the post divorce Pension sharing order. It again shows how good the Public sector pensions are. My company pension a few years ago lost both mine and the companies miserable 5% contributions and more over a 12 month period after as reported "Poor returns". Our FS scheme has a £18 million black hole in it also. In the public sector however you dont have this issue your pensions are totally secure. Plus the employer in the public sector contributions are way above ours in the private sector which of course are funded by the tax payer,

kidmugsy

Muscle750 wrote: »

the employer in the public sector contributions are way above ours in the private sector

That's presumably true of LGPS but none of the other big government schemes are "funded" i.e. there are no employer contributions. It's all a promise based of future tax revenues.

Bravepants

kidmugsy wrote: »

Golly, spoiled brats. School leaving age was 15 in my day.

You're lucky! I went to school in a cardboard box.

Bravepants

Muscle750 wrote: »

The truth................end of.

https://www.jobsgopublic.com

Andy_L

Bravepants wrote: »

You're lucky! I went to school in a cardboard box.

A cardboard box? Luxury! [insert 4 yorkshiremen sketch here]

greatkingrat

kidmugsy wrote: »

That's presumably true of LGPS but none of the other big government schemes are "funded" i.e. there are no employer contributions. It's all a promise based of future tax revenues.

There is still an employers contribution rate set, even if it is essentially just the government paying itself money.