Equality (but only when it suits)

SexyGreyFox · 6 Oct 2019 at 14:32

b0rn2sk8 said:
It’s 100% your choice to retire or not

It didn't used to be like that, you had to retire when you reached pension age.
(Obviously depending what work you were in)

b0rn2sk8 · 6 Oct 2019 at 15:23

SexyGreyFox said:
It didn't used to be like that, you had to retire when you reached pension age.
(Obviously depending what work you were in)

I know

b0rn2sk8 said:
That hasn’t been the case for years...

It was phased out in 2011

dowie · 6 Oct 2019 at 15:32

SpeedFreak said:
But if I am born in April 54, with one year of age I am retiring 3.5 years later, that's not really a taper is it?

3 years it seems. But yeah that is a bit of a steeper increase relative to the earlier ones and might have been phased in better... regardless it isn't exactly unfair, the changes affect both men and women. It is more that some women born earlier still have quite a sweet deal relative to both men in general and women born a bit later.

Eurofighter · 7 Oct 2019 at 07:10

Dont people think retirement should be younger for both sexes though. What if you have a physical job. Most of them will end up on the sick before retirement.

Dolph · 7 Oct 2019 at 08:14

Eurofighter said:
Dont people think retirement should be younger for both sexes though. What if you have a physical job. Most of them will end up on the sick before retirement.

The state pension doesn't in any way determine when you can retire, it determines when you can claim your state pension.

Abraxaz1 · 7 Oct 2019 at 09:05

Eurofighter said:
Dont people think retirement should be younger for both sexes though. What if you have a physical job. Most of them will end up on the sick before retirement.

Hence why you get a private pension, the state pension is a safety net not a crutch, it's there to assist those that either dont have a pension or have a very small amount. It's not designed to be the be all and end all that everyone thinks it is.

Eurofighter · 7 Oct 2019 at 11:21

https://www.telegraph.co.uk/news/2017/12/05/uk-state-pensions-ranked-worst-developed-world/amp/

Pretty sure we need to improve things. Many people cant afford a private pension.

You can say they should get better jobs but then who will do their old job. There are always going to be low paid jobs.

I have a private pension btw. I'm just not a fan of this I'm alright Jack mentality. Wait until they stab you for food.

Angilion · 7 Oct 2019 at 11:33

Abraxaz1 said:
Hence why you get a private pension, the state pension is a safety net not a crutch, it's there to assist those that either dont have a pension or have a very small amount. It's not designed to be the be all and end all that everyone thinks it is.

A few years ago I received the projection for my private pension that caused me to opt out. My employer had massively downgraded the pension scheme for years before closing it and replacing it with an even worse one. When it got the the stage where paying the maximum I could afford for 38 years and 11 months would buy me a pension that would barely feed a dog (and no, that is not hyperbole - £21 a week would probably barely feed a dog in 2034), I opted out.

For many people, the state pension is the be all and end all. Company pension schemes are nothing like what they used to be. When I started paying in, I was due to retire with 38.9/60ths of my final salary and the AVCs I paid would have brought it up further. Now I would have to pay a much larger percentage of my wages for the same length of time to buy a pension that might keep a dog well enough fed. Maybe.

theone8181 · 7 Oct 2019 at 12:58

Angilion said:
A few years ago I received the projection for my private pension that caused me to opt out. My employer had massively downgraded the pension scheme for years before closing it and replacing it with an even worse one. When it got the the stage where paying the maximum I could afford for 38 years and 11 months would buy me a pension that would barely feed a dog (and no, that is not hyperbole - £21 a week would probably barely feed a dog in 2034), I opted out.

For many people, the state pension is the be all and end all. Company pension schemes are nothing like what they used to be. When I started paying in, I was due to retire with 38.9/60ths of my final salary and the AVCs I paid would have brought it up further. Now I would have to pay a much larger percentage of my wages for the same length of time to buy a pension that might keep a dog well enough fed. Maybe.

How can they have removed you from a final salary scheme, i thought once in you could only opt out not be kicked out so to speak?

Angilion · 7 Oct 2019 at 20:48

theone8181 said:
How can they have removed you from a final salary scheme, i thought once in you could only opt out not be kicked out so to speak?

They closed the final salary scheme. It no longer exists. No need to kick anyone out of a pension scheme that doesn't exist.

theone8181 · 8 Oct 2019 at 07:40

Angilion said:
They closed the final salary scheme. It no longer exists. No need to kick anyone out of a pension scheme that doesn't exist.

Strange, when i used to be at bae it was final salary, but its not anymore however i'm still on it as i've got money in it. Thats why i was confused.

Nasher · 8 Oct 2019 at 08:03

Its not gone for everyone.

Also MPs have set themselves up nicely :\

nitram100 · 8 Oct 2019 at 09:14

McBain said:
Glad it lost.

Want equality? Then have equality, work as long as the men.

This. I'm a RGN and the heavy patients always get allocated to me, sick of it.

SexyGreyFox · 8 Oct 2019 at 17:52

nitram100 said:
This. I'm a RGN and the heavy patients always get allocated to me, sick of it.

Well working in Public Liability in a Trust and seeing lots of cases, make sure there are at least two of you (or more) with a heavy patient if you've signed your Manual Handling Training.

Angilion · 8 Oct 2019 at 22:13

theone8181 said:
Strange, when i used to be at bae it was final salary, but its not anymore however i'm still on it as i've got money in it. Thats why i was confused.

I'm not a pensions expert, but I think there are 4 possible statuses for a pension scheme:

1) Open to new members.
2) Closed to new members but open to existing members.
3) Closed but continuing to function with the money already paid into it.
4) No longer existing.

The pension scheme I was in no longer exists. Nobody is in it, there is no money in it, it doesn't exist at all. The money that was in it was transferred to...something. I don't know what. Probably the useless new pension scheme, but it could have been pocketed by the shareholders for all I know.

Sindri · 9 Oct 2019 at 05:03

Angilion said:
I'm not a pensions expert, but I think there are 4 possible statuses for a pension scheme:

1) Open to new members.
2) Closed to new members but open to existing members.
3) Closed but continuing to function with the money already paid into it.
4) No longer existing.

The pension scheme I was in no longer exists. Nobody is in it, there is no money in it, it doesn't exist at all. The money that was in it was transferred to...something. I don't know what. Probably the useless new pension scheme, but it could have been pocketed by the shareholders for all I know.

What industry were you in? Railway?

SexyGreyFox · 9 Oct 2019 at 07:34

Angilion said:
The pension scheme I was in no longer exists. Nobody is in it, there is no money in it, it doesn't exist at all. The money that was in it was transferred to...something. I don't know what. Probably the useless new pension scheme, but it could have been pocketed by the shareholders for all I know.

Surely you can look into it or was this before the Government stepped in and started protecting pensions?