it is banned, but didnt stop us last time
its also a joke that police, military and firefighters are keeping a 60 retirement age but once again prison staff are forgotten about
Basically what my mate has texted back.
Legally can't strike but will anyway.
Basically what my mate has texted back.
Legally can't strike but will anyway.
Basically what my mate has texted back.
Legally can't strike but will anyway.
60 year old police officers on the street Dolph?
I do agree that 55 should be kept as a retirement age for lower ranks. I also accept that my contributions, currently 11%, will go up in the current climate.
Yes, it is.
The pensions protection fund only takes on insolvent schemes, one of the results of that is that no new liabilities are incurred, so no further accrual of benefits, no new memberships.
The key part is the existing scheme has to be wound up.
But they are allowing people to continue to accrue new unfunded liabilities. Hence it is not the same thing at all.
The public sector is a larger problem, because of the nature of public sector funding.
Sack them all then, I'm sure the state can find a new group of nutters to bully and abuse prisoners.![]()
My step father is PO. He served this country for 24 years in the Navy fighting for this country, he is a respectible and caring man who has difficulty in reconciling some of what he sees and has to deal with.
Your ignorance really knows no bound, and I have to wonder just how disgusting a personallity you must have in real life.
I bet you make friends really easily.
I'm trying to wrap my head around this, can anyone explain it better for me. I'm using rough estimates here;
So lets for argument sakes, say you started working at 20 earning £20k gross p.a., you work till 60, thats 40 years, let's assume a yearly pay rise of 2%. Over 40 years you pay into the pot 3.5% pension, working out at around £43.8k.
Your final salary after these 40 years of pay rises is just over £44k, lets assume your final salary pension is about a third, so around £13.4k, so the pot you've accured over fourty years is divisable by the pension you'll get bang on by 3, that's three years of drawing a pension out of your "pot" before it's dried up, after that it's coming out of public funds, and the pension you draw stays the same?
Is that something like how it currently works?
Errrr no.
The scheme must not have commenced wind up before April 2005.
The schemes load poor funds into good funds in order that the Government itself does not have to foot the bill, although it is in effect a smudge anyway.
It loads burden onto prudent businesses. The weakest performing funds have to pay more, so they are themself in effect penalised.
The whole scheme is corrupted.
It should not be allowed, it is unfair and distorts competition.
I am suprised by your opinion and silence over the issue, to be frank.
Who says?
The public sector is not a larger problem. This is nonsense.
The nature of all funding is an issue.
Do I need to use sarcasm tags in future?
I actually agree with you here, but you have to remember why the PPF was created following Brown's smash and grab raid of a couple of hundred billion and the subsequent consequences to private sector defined benefit pensions...
Public sector pension liabilities run to several trillion pounds. The costs of even the PPF protected funds doesn't even come close.
I'm trying to wrap my head around this, can anyone explain it better for me. I'm using rough estimates here;
So lets for argument sakes, say you started working at 20 earning £20k gross p.a., you work till 60, thats 40 years, let's assume a yearly pay rise of 2%. Over 40 years you pay into the pot 3.5% pension, working out at around £43.8k.
Your final salary after these 40 years of pay rises is just over £44k, lets assume your final salary pension is about a third, so around £13.4k, so the pot you've accured over fourty years is divisable by the pension you'll get bang on by 3, that's three years of drawing a pension out of your "pot" before it's dried up, after that it's coming out of public funds, and the pension you draw stays the same?
Is that something like how it currently works?
A reduction in the numbers of civil service middle managers? You say that as if it'd be a bad thing.Then you'll find middle managers in the public sector saying - hold on, I'm earning £40k a year with a crap pension while I could be earning £65k a year in the private sector with a crap pension. So we'll have an exodus of all the best public sector workers unless we give them an even bigger pay rise.
A reduction in the numbers of civil service middle managers? You say that as if it'd be a bad thing.![]()
My step father is PO. He served this country for 24 years in the Navy fighting for this country, he is a respectible and caring man who has difficulty in reconciling some of what he sees and has to deal with.
Your ignorance really knows no bound, and I have to wonder just how disgusting a personallity you must have in real life.
I bet you make friends really easily.