Will there be Pension apartheid?

OldMusicGuy

doris540 said:

Firstly i did not leave the company resulting in my loss of our FS scheme it was stopped by the company . The resulting DC scheme which has just lost money obviously ive been in since we were transfered into it in 2009. and am still employed at the company. 

Welcome to the real world. You were extremely lucky to have any form of FS scheme, especially as late as 2009. These have been increasingly rare in the private sector (I have been on DC pensions since 1982). If you didn't like the change to a DC scheme, you should have left and got a job at a company that had an FS scheme (hard to find after 2009) or joined the public sector. Or you should have moved to a company with a better DC scheme, or saved harder. What you shouldn't be doing now IMO is blaming public sector employees for your choices.

Thrugelmir

itwasntme001 said:

Net pension liabilities did increase considerably over the 10 year span from around £200bn in 2009 to £400bn in 2015 to £530bn currently.  

Greater number of living retirees. Sign of an ageing population that is beginning to peak post the WW2 baby boom. 

itwasntme001

Thrugelmir said:

itwasntme001 said:

Net pension liabilities did increase considerably over the 10 year span from around £200bn in 2009 to £400bn in 2015 to £530bn currently.  

Greater number of living retirees. Sign of an ageing population that is beginning to peak post the WW2 baby boom. 

That is certainly a factor!  After-all historically the NHS scheme has incentivized doctors to retire early, many in their 50s, as they have accrued the benefits to reach LTA by then.

I worry all this is going to hurt us bad over the coming decades due to inflation.  As humans we make some really terrible mistakes in not thinking in the long run at all.  Especially in government.

JoeCrystal

Thrugelmir said:

Greater number of living retirees. Sign of an ageing population that is beginning to peak post the WW2 baby boom. 

Indeed, there are 1.56 million members across the NHS with the pensions are paid to 920,000 pensioners and dependants. There are also a further 680,000 deferred members. The number of the pensioners, dependants and deferred members outnumbers the members itself.

AlanP_2

Is the objection of the OP against DB pension schemes or against public sectror pension schemes?

Just wondering as there are privat sector employers still offering DB schemes and wondered whether she would like them closed as well just to keep everybody on a level playing field.

eskbanker

AlanP_2 said:

Is the objection of the OP against DB pension schemes or against public sectror pension schemes?

I think it's a distinct possibility that OP is inspired by the famous Marlon Brando line from 'The Wild One':

Mildred: Hey, Johnny, what are you rebelling against?

Johnny: What've you got?

Dox

eskbanker said:

AlanP_2 said:

Is the objection of the OP against DB pension schemes or against public sectror pension schemes?

I think it's a distinct possibility that OP is inspired by the famous Marlon Brando line from 'The Wild One':

Mildred: Hey, Johnny, what are you rebelling against?

Johnny: What've you got?

Quite! Certainly doesn't seem to be the sharpest knife in the drawer, except when it comes to her tongue.

german_keeper

doris540 said:

Firstly i did not leave the company resulting in my loss of our FS scheme it was stopped by the company . The resulting DC scheme which has just lost money obviously ive been in since we were transfered into it in 2009. and am still employed at the company. For the person who stated i spout etc . get off your platform . And for those that argue Public sector pay is lower thats why the pensions are as they are looking at the latest Civil service pay structure in banding and pay etc on the internet i fail to see where your coming from to be honest.. How do us in the private sector afford to put in the percentages that are paid by the public sector employer. If i could afford it believe me i would but what the end argument is which people just dont like or grasp is the fact that the employer percentages paid by the state ie the tax payer. Is compared to us is very unfair. In relation to the post about my DB pension remember i had no choice in the matter in it been stopped. Imagine what would of happened if when all the companies were stopping their FS schemes the government took the same view against the public sector and did the same. Doesnt take alot of working out. Look what happened when they tried to change the fire service pension they kicked off something cruel. I along with many others have great respect for people who do these jobs and i agree they should be suitably rewarded. However within the NHS there is also alot of dead wood and horrific wastage, of resources 

So if you contract Covid 19 as you are wheeled in through the door of you local hospital presumably you will say "I'm not being treated by any of that deadwood". Good luck with that.

Paul_Herring

german_keeper said:

So if you contract Covid 19 as you are wheeled in through the door of you local hospital presumably you will say "I'm not being treated by any of that deadwood". 

Don't be silly.
You're clearly misrepresenting her position on this matter, and being hyperbolic, to try and misrepresent her - entirely valid* - opinions...
---
I still think she need to try 4chan if she wants to learn how to troll, however.

* the word valid here is doing quite a lot of work.

german_keeper

Paul_Herring said:

german_keeper said:

So if you contract Covid 19 as you are wheeled in through the door of you local hospital presumably you will say "I'm not being treated by any of that deadwood". 

Don't be silly.
You're clearly misrepresenting her position on this matter, and being hyperbolic, to try and misrepresent her - entirely valid* - opinions...
---
I still think she need to try 4chan if she wants to learn how to troll, however.

* the word valid here is doing quite a lot of work.

I was actually trying to give her a bit of advice about how to deal with the NHS.

2 months ago my mum's dementia was so bad that she was sectioned into a NHS Mental Health Unit. Yesterday she was discharged into a care home. She is like a different person, happy as a sandboy. Me and my 2 sisters have got our mum back, although obviously they couldn't cure her dementia!! 

I'm not an emotional person and I can't remember the last time I actually cried.But recently I have been in tears several times because of those fantastic people. But do you know why? When she was admitted I told them in no uncertain terms, "you can keep your bl**dy deadwood away from my mum.