Rhetoric media on state gold plated pensions

Random47

Is it just me or has there been an increase in the 'hate' media on government backed DB pensions. Really just stirs up contentions on private sector workers and their DC pensions against (often lower paid by category) for LG, civil service, NHS, etc., former workers. 

JoeCrystal

I haven't seen any recently. Got any examples? The only one that came to mind is a headline complaining about an NHS nurse whose children were "cheated" out of death in service since she opted out of her NHS pension scheme to pay her household bills... But that does not really what you got in mind.

Andy_L

Feels about the same level of ""hate" media" as usual

dunstonh

Really just stirs up contentions on private sector workers and their DC pensions against (often lower paid by category) for LG, civil service, NHS, etc., former workers. 

It used to be the case that the DB pension for the public sector was a reward for a life of public service on a salary that was lower than the private sector.

However, public sector pay is mostly higher than private sector pay and has been for some time.    Yes, there are exceptions, but in general, that is the case.

So, there is the potential for conflict in media articles there.  Then if you factor in the usually well-paid public sector jobs going on strike for even more money, it just plays into the media agenda nicely.

However, I hadn't noticed any particular increase in the usual rhetoric. 

Dazed_and_C0nfused

Usual stuff in the fail last week

https://www.dailymail.co.uk/debate/article-11136239/amp/Gold-plated-public-sector-pensions-real-timebombs-bankrupting-Britain-writes-LIAM-HALLIGAN.html

Random47

Dazed_and_C0nfused said:

Usual stuff in the fail last week

https://www.dailymail.co.uk/debate/article-11136239/amp/Gold-plated-public-sector-pensions-real-timebombs-bankrupting-Britain-writes-LIAM-HALLIGAN.html

Yup an the Telegraph rag 
https://www.telegraph.co.uk/state-pension/

Albermarle

It is inevitable that people with pensions with uncapped inflation increases, will be seen as sitting pretty at the moment. It would be surprising if it did not raise some peoples blood pressure. Fairly or unfairly. 

SouthCoastBoy

Yes, massive inequality on pensions, not sure if taxpayers will continue to support funding the public sector pension when they receive nothing similar in return. However it seems both main parties will continue to support the Civil Service pensions so looks like there is currently no choice. I'm fortunate in that my wife works in the public sector so we have some exposure to the public sector pensions  so with that and two full state pensions we have got some hedge against inflation 

daveyjp

My usual response is everyone has the right to work for whoever they like.

Pension provision is one aspect of the overall renumeration package.

Profit share/share options/redundancy terms in the private sector can be very lucrative.  

Albermarle

SouthCoastBoy said:

Yes, massive inequality on pensions, not sure if taxpayers will continue to support funding the public sector pension when they receive nothing similar in return. However it seems both main parties will continue to support the Civil Service pensions so looks like there is currently no choice. I'm fortunate in that my wife works in the public sector so we have some exposure to the public sector pensions  so with that and two full state pensions we have got some hedge against inflation 

I see that your previous pessimistic inflation predictions, seem to be coming true, unfortunately. Hopefully your longer term predictions will not be accurate !

Andy_L

Dazed_and_C0nfused said:

Usual stuff in the fail last week

https://www.dailymail.co.uk/debate/article-11136239/amp/Gold-plated-public-sector-pensions-real-timebombs-bankrupting-Britain-writes-LIAM-HALLIGAN.html

"A mid-ranking mandarin on £60,000 a year, having joined the civil service aged 35, could retire aged 60 and receive £25,000 a year, upgraded each year for inflation, for the rest of their life. "

Hmmm, wonder how they worked that out?
Looks like they've used the old 1/60th FS scheme rules but ignored the ~25% reduction for taking it 5 years early and that that scheme hasn't been available for new entrants for 15 years and for existing members for 7 years (pending McCloud)