Rhetoric media on state gold plated pensions

hyubh

CorseyEdge said:

Interesting analysis in the Ready Reckoner section of that report seems to indicate that increases in CPI can be offset by increasing wages in public service accordingly (assuming cost recovery via increased contributions)

So... the finances of public sector pension schemes are sound because they are Ponzi schemes....?

DoublePolaroid

Typical “look, there’s a squirrel!” tactics by the media stooges of the Government of the day. Utilise the undoubted power of envy to get the proles at each other’s throats so that they don’t realise that it’s actually the people in charge who are responsible for the state of the nation’s finances. 

I’m endlessly fortunate that I will, in a couple of decades, be in receipt of a gold plated, state-backed DB pension. I’m grateful for the perk of my job. I also don’t give a monkeys what anybody thinks about it. Least of all Daily Mail readers. 

Andy_L

arnoldy said:

Most people appreciate very much the public sector front line...dinner ladies, road sweepers, nurses, police, squaddies, firemen..etc.

But what they don't like is the standing army of quangos and back office "administrators" dressed as managers. And their final salary pensions for their jobs that have a tenuous link to front line delivery. Remember of the 1.3 million people + that work in the health service barely 400,000 are nurses and doctors. Scandal.

Why? What's the "right" ratio of Drs/nurses to other staff?

You've also forgotten that a sizable chunk of the remaining 0.9 mil are other clinical/medical roles (midwives, paramedics, physios, ODPs, dentists etc) and healthcare assistants 

Andy_L

frugal90 said:

Don't think mine is especially gold plated. I worked as a teacher in middle management for 36.25 years. Pension is £22800 per year plus I got 3 times as a lump sum. Fortunately married to retired teacher , so comfortable compared to many.

It is the deal we signed up for. Those that complain go and do 36 plus years at the chalkface.

It's good plated in terms of what it's worth compared to what you (we, since I have one myself) paid towards it, rather than in absolute terms

Gary1984

I was also surprised by pay being higher in the public sector. I wonder if part of this is explained by greater unionisation. The answer to me would be those in the private sector should unionise and demand better pay rather than attack the benefits of their fellow workers in the public sector.

Classic tactic of divide and rule to ensure a race to the bottom.

dunstonh

frugal90 said:

Don't think mine is especially gold plated. I worked as a teacher in middle management for 36.25 years. Pension is £22800 per year plus I got 3 times as a lump sum. Fortunately married to retired teacher , so comfortable compared to many.

It is the deal we signed up for. Those that complain go and do 36 plus years at the chalkface.

To get that equivalent in the private sector, using a DC scheme, you would need to have paid around 25-30% of your salary (including employer contribution).

zagfles

DoublePolaroid said:

Typical “look, there’s a squirrel!” tactics by the media stooges of the Government of the day. Utilise the undoubted power of envy to get the proles at each other’s throats so that they don’t realise that it’s actually the people in charge who are responsible for the state of the nation’s finances. 

I’m endlessly fortunate that I will, in a couple of decades, be in receipt of a gold plated, state-backed DB pension. I’m grateful for the perk of my job. I also don’t give a monkeys what anybody thinks about it. Least of all Daily Mail readers. 

Indeed, like when people whine on about fat cats, Elon Musk etc. I'm sure they don't give a monkeys what people think of their wealth and priviliege either.

zagfles

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 

Yes similar with us. Anyway who knows, the stockmarket might soar over the next few decades and private sector workers with DC pensions might end up better off, I'm sure that'll lead to "hate"/"envy" stories in other parts of the media

zagfles

Random47 said:

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/

Maybe reporting on the cost of public sector pensions should become a "hate crime". Call the police

drummersdale

Similarly to the teacher who commented earlier I worked 41 years to arrive at a pension of c£23k per annum plus lump sum - if it’s gold plated then it seems only gold leaf as opposed to 24 carat - but I have nothing else to compare it to so not sure what someone who worked 41 years in the private sector would be picking up in comparison. I also agree that I knew what I was signing up for and if I wasn’t happy could have voted with my feet, as can those in the private sector. The irony is that after 10 years of continuous pay restraint by the Tories their fantastic stewardship of the economy means that my pension is likely to increase by a significant % over the next 2 years due to inflation. I realise that is cancelled out by rising prices but inflation will fall eventually whereas my pension will get a decent uplift in perpetuity.