Pensions as deferred salary is based on the additional employer contributions, not the defined benefit at the end
30/11 Strikes.
- Thread starter wordy
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Pensions as deferred salary is based on the additional employer contributions, not the defined benefit at the end
Governments can just dismiss or disinherite obligations just like that? Are you sure?
You vote for it, you pay for it.
No, why would they have to assess payscale when it is done on a yearly basis already?
A different big bad tory government did it and ran away?
Sorry, doesn't really wash up very well as an argument. I never realised embarking on a new term created a new state.
technically, yes, at least for future obligations.
Which is why, for the same age and qualifications, public sector pay is greater than private sector?
It is public pension spending, including the state pension...
Welfare spending is separate.
As for the rest, I didn't want to get into a big debate over who pays what, but you may want to look up the terms I used as you seem to either not understand what was said or just want to argue something else.....neither of which I have time for tonight.
My original post was in response to the claim that the Public Sector is self sustaining....it isn't, unless you claim it is also....needless to say I wasn't making any claims to what pays for what, only that the private sector or private wealth if you prefer ultimately funds the majority of Government Spending, it certainly is not self sustaining, or even mostly on credit as you suggest.
In any case, something has to be done......and as yet there is no viable or credible alternatives being put forward, Labour certainly aren't.
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No, sovereign technicalities aside, as per your assertion - it is normal practice on a term by term or Government by Government basis to ignore what previous Governments have pledged?
Dribble.
![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
Why dont you join it if its so good, Dolph?
Deleted member 66701
Deleted member 66701
You forgot to add the "in certain regions", which I think says more about the poor state of the economy on a regional scale that it does about perceived over valuing of public sector employees.
For example, the Fylde coast (i.e. Blackpool) has a lot of public sector workers - the DWP's main DLA processing centre is located at Warbreck Hill, War Pensions at Norcross, strategy at Peel Park and another government entity - Premium Bonds - at Marton. Now of course public sector salaries in this area are going to be higher than most of the working populace - we all know the problems Blackpool faces - but is that a reason to depress the salaries of those working in the public sector in this area? What would that do to the local economy?
Yes robbed by the previous labour government when Brown effectively performed a ninja raid on private pensions. Brown's decision in 1997, when he was Chancellor, to axe tax relief on dividends paid to pension funds has cost private occupational schemes £175billion. That is equivalent to around £16k to 17K per person.
So I'd say the private sector has a pretty good reason to be ****ed off when they see their public sector brethren effecitely raking it in ?
Whats good for the goose is good for the gander, unless you think the private sector should be made to prop public sector pensions up while they have to suffer themselves ?
These issues are not one for conflating, unless you want to bring in the other sector while we are at it which would be fine to me.
You responded to me, and I never said at any point the Public Sector, in any way, was self sustaining.
Utter rot.
Especially after most local government employees got swindled in the 2008/09 pay deal, then got a two year pay freeze, followed by an [sarcasm] utterly generous [/sarcasm] 1% maximum per annum for 2012-2014. They've effectively taken a 12-15% pay cut which they will never get back ... if they still have a job at the end of the austerity measures.
You stated that the money for Government spending was largely funded by Government Borrowing.....I pointed out that it is not, and gave a brief list of the funding sources in addition to Government Borrowing.
No, what I stated was that it is impossible to actually acertain what is going on between the various types of revenue / liquidity;
Biohazard said:
Utter nonsense
http://www.ifs.org.uk/budgets/gb2011/11chap7.pdf
Page 170.
note this does not include the effect of pension differentials.
I expect an apology, or an alternative citation if you wish to continue to peddle the misinformation.
And how was that the public sector workers fault
And how does the public sector also getting robbed help you out or better your position? Ohhh that's right it doesn't other than make you FEEL better knowing loads of other people have been ass raped as well! Nice! like I said, bitter, rancid sour grapes, pathetic!!
And how was that the public sector workers fault
And how does the public sector also getting robbed help you out or better your position? Ohhh that's right it doesn't other than make you FEEL better knowing loads of other people have been ass raped as well! Nice! like I said, bitter, rancid sour grapes, pathetic!!
How is it sour grapes when the private sector was directly targeted and pension raped, then 13 years down the line the government coffers are effectively empty and the public sector pensions are then brought back in line with the private ones to help balance the books.
Its called simple accounting...............
I am not bitter for anything as my pension is not tied up into a pension plan anywhere, its made up of a property portfolio and various other holdings so one way or the other I am zero affected as housing markets will have been well stabilised by the time I retire, so your sour grapes theory is way of target.
On the first page;
"Before the financial crisis, public sector employees were, on average, paid at levels roughly in line with their private sector counterparts once observed differences in skill composition were taken into account."
Who was right, you or the IFS?
In any event, we've been here before. Apology? Pfft.