Fed up of the bragging

System

Firstly i do not have a NHS pension and have never worked in the public sector . Ive worked for the same company in excess of 32 years. The company was bought out in 1997 by a large company . We were put into the FS scheme in 2003 and had it stopped in 2008 and transfered into a Dc scheme . The last statement i had said on the FS side i would get approx £3500 a year however this will increase each year not by much thou in last 5 years its gone up by 300 PA, On the DC side there is approx £50k and as it stands today id see approx £1800 a year if no more money was paid in if i continue to pay at current rate the estimate is £2500 a year. so so far thats £6k a year. Ive also got £65k sat in a pension with the Pru ,say when i retire that will be £75k a drawdown of 5% will see approx £3700 a year plus the SP which in todays money is £8500 a year
So thats £9700 from my work and my own private pension and £8500 from the state . I presume the poster who said their NHS pension is £22k a year had not inc their state pension in this .
To the poster who commented on the recent sad events concerning a police officer our thoughts are with his family and friends in shocking circumstances and in no way should this conversation be connected to it.
One quote on the internet says a 30 year old police officer earning £30k a year at 30 when 60 will get a pension of £28k or a lump sum of £120k and £18k a year pension. Can the poster who mentioned her son inform us of the percentage the employer (tax payer) is contributing i bet its more than her son is

Ms_Chocaholic

What is your and your wife's current income? Could you cut back on certain things to save money and enjoy a holiday. Everyone has different priorities, some friends I have spend all of their money on holidays and live frugally at home, some the complete opposite.

If you give some idea of your income/expenditure, maybe me and other posters could help you save some money for a break.

Kentish_Dave

Nikond4 wrote: »

Plod pensions are good thats why we havent got any and they all go at 55 along with alot of others in the public sector. You dont see many in the NHS going past 55 either especially the ones up the ladder so to speak.......................chip on m y shoulder nah im just the clown helping pay for these over inflated gold plate pensions

If you are struggling then you’ll tend to be a net receiver from the state.

I seem to remember that the crossover point between net paying and net receiving is around £40k per year.

Apologies if already answered, but what’s the back story? Given comments about non-working women I’ll assume that your wife works too, so if the two of you are each doing 60 hours then you really should have enough for a holiday.

coffeehound

Kentish_Dave wrote: »

I seem to remember that the crossover point between net paying and net receiving is around £40k per year.

Interesting; does that figure assume a single working parent within a 2.4 child family, or per individual?

Bogof_Babe

Kentish_Dave wrote: »

If you are struggling then you’ll tend to be a net receiver from the state.

I seem to remember that the crossover point between net paying and net receiving is around £40k per year.

Apologies if already answered, but what’s the back story? Given comments about non-working women I’ll assume that your wife works too, so if the two of you are each doing 60 hours then you really should have enough for a holiday.

60 hours? Blimey that's a bit excessive if you mean per week.

JamoLew

Just wondering what your monthly pension contributions are to get your end pension of ~£10k a year
Also at what age is that ?

To get £22k a year pension from the NHS that assumes a final years wage of ~ £40k with 40+ years service at an age of 67 with monthly contributions directly from my wage of ~9.5% = ~ £335 a month

How does that stack up against your length of service, final years wage and monthly contribution ?

Kentish_Dave

coffeehound wrote: »

Interesting; does that figure assume a single working parent within a 2.4 child family, or per individual?

I can’t remember, it was an overall average,

In terms of net contribution, the bottom three quintiles receive, the second top pays a few thousand a year, and the top pays nearly the whole bill.

If you are on average wage but with no children, and receiving no benefits then I’d imagine that you’ll be at around the tipping point.

Pollycat

I wonder if the OP's friends and family are winding him up to get a rise out of him and his wife.
Seems likely to be easy to do.

One other point:
Googling the OP's username, one may speculate what his income is spent on. :whistle:

System

Yes between 55 60 hours each week inc some weekends, Normal week is 40 hrs however OT is only the normal hourly rate which used to be time and a half.

Kentish_Dave

Bogof_Babe wrote: »

60 hours? Blimey that's a bit excessive if you mean per week.

Not really, it’s relatively common nowadays. The OP says he does that, I do it, my wife does it, it’s part and parcel of a lot of jobs.

It’s perfectly understandable preferring to do a fair amount less, but if that’s through choice then you don’t really get to complain about wages, you’re doing what nowadays is a part time job.

Like many others, I hope that the payoff is financial safety relatively early in life, but of course it’s a gamble; my health could fail before then.