Public Sector pay rise 2023

413x said:
Generally I think it's fair. Isn't public sector pension for example amazing?
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Not these days, no. It's just a regular private pension you'd get anywhere (except the absolute worst employers).

A lot of the amazing benefits people think we have were last seen in the 80s or whatever. Final salary pension, etc.

What we have now is the same as private sector people have. Or worse.
Begbie said:
Health care, pension, time off, etc.
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None of which are unique, or more than you'd have in the private sector.

Colleagues of ours have left and gone to private sector employers, added 70% to their salary, and now have better pension and benefits.

The idea that public sector benefits are some super duper advantage is for the birds.
 
FoxEye said:
Not these days, no. It's just a regular private pension you'd get anywhere (except the absolute worst employers).

A lot of the amazing benefits people think we have were last seen in the 80s or whatever. Final salary pension, etc.

What we have now is the same as private sector people have. Or worse.

None of which are unique, or more than you'd have in the private sector.

Colleagues of ours have left and gone to private sector employers, added 70% to their salary, and now have better pension and benefits.

The idea that public sector benefits are some super duper advantage is for the birds.
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That's sad. I always thought that public sector was underpaid vs private but the benefit ce later (much much better pensions etc)
 
A lot of people think all sorts of things about the public sector, based on what may have been true decades ago.

People who joined in the last 20 years or whatever have none of that.

We've had over a decade now of continual budget cuts, outsourcing, and worsening of terms.

All the stats (and there are many comparing public to private) show a story of private sector paying more and with better benefits. You only work for the public sector these days for two reasons: 1) you enjoy the work/life balance or 2) you are ideologically drawn to working for the public sector. Literally everyone else can get a better deal going private.
 
FoxEye said:
Not these days, no. It's just a regular private pension you'd get anywhere (except the absolute worst employers).

A lot of the amazing benefits people think we have were last seen in the 80s or whatever. Final salary pension, etc.

What we have now is the same as private sector people have. Or worse.

None of which are unique, or more than you'd have in the private sector.

Colleagues of ours have left and gone to private sector employers, added 70% to their salary, and now have better pension and benefits.

The idea that public sector benefits are some super duper advantage is for the birds.
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Ref: pensions, what are the employer contribution:employee contribution ratios?
 
FoxEye said:
Not these days, no. It's just a regular private pension you'd get anywhere (except the absolute worst employers).

A lot of the amazing benefits people think we have were last seen in the 80s or whatever. Final salary pension, etc.

What we have now is the same as private sector people have. Or worse.

None of which are unique, or more than you'd have in the private sector.

Colleagues of ours have left and gone to private sector employers, added 70% to their salary, and now have better pension and benefits.

The idea that public sector benefits are some super duper advantage is for the birds.
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I don't contribute to my pension.

I also definitely get more days off than the average private sector, not including the paid days off I get for skiing, at, etc. (probably another 2-3 weeks a year).

Id say that's pretty unique.
 
Scougar said:
I'm at a private multi-billion dollar firm, with an excellent review where last year I got 10% + 10% bonus... And this year with a near identical review got less than 5% and just shy of I think 7% bonus.

I think these public sector folk did pretty darn well to be honest. Yes, inflation is sucking hard for sure, so don't think I am saying it is fair, only comparable. For many years, a lot of my gov buddies were on pay freezes which sucked big time for them.
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Yeah hence why junior doctors need to stop going on about 35% fairytales
 
Begbie said:
I don't contribute to my pension.

I also definitely get more days off than the average private sector, not including the paid days off I get for skiing, at, etc. (probably another 2-3 weeks a year).

Id say that's pretty unique.
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I didn't get skiing holidays as part of my package. Clearly I need to renegotiate. Hopefully we can swap the skiing for something of equivalent value, tho.

e: Guessing you're a teacher :)
 
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https://www.mod-pc.co.uk/ - looks like new pension calc has gone live early :)

My IP is £500 higher, but my lump sum and Final pension is lower - ?

Doesn't take into account the pay rise either :(

Decision may not be as straight forward to go back to the 75......................
 
CaptainRAVE said:
The pension was outstanding. My dad had a huge lump sum and monthly income when he retired. It’s nowhere near what it was.
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That depends on the organisation. A lot of multi academy trusts will be members of the LGPS (of which most councils still are members also, hence the name) which is still pretty amazing at 1/49th accrual rate and inflation linking and lots of other benefits. Contributions depend on salary but I'm paying 6.8% for example.

Teachers pension is still relatively decent, as is the NHS one, it really depends on what you're talking about when you say public sector.
 
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ivrytwr3 said:
https://www.mod-pc.co.uk/ - looks like new pension calc has gone live early :)

My IP is £500 higher, but my lump sum and Final pension is lower - ?

Doesn't take into account the pay rise either :(

Decision may not be as straight forward to go back to the 75......................
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Cheers,

Though I still have 5 and a half years to go until I get a pension and can leave. My initial payout and initial pension is better on the 05, but my pension at SPA is better on 15.

Food for thought... Or I could just do BES and have my spine removed for 2 years and leave with a WO pension.
 
Mad_Jay said:
Cheers,

Though I still have 5 and a half years to go until I get a pension and can leave. My initial payout and initial pension is better on the 05, but my pension at SPA is better on 15.

Food for thought... Or I could just do BES and have my spine removed for 2 years and leave with a WO pension.
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I have similar time, still leaving though.

Yes, not quite as simple as going back to 05 it seems, might be better on the 15 for the SPA pay. Depends how far past SPA we live.

Don't see why you wouldn't BES though, I would if I was staying in. Only a few years of actual work after training, plus you can probably avoid most of that :p
 
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413x said:
That's sad. I always thought that public sector was underpaid vs private but the benefit ce later (much much better pensions etc)
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Its not a issue with public vs private sector, the issue is defined benefit pensions, where the anticipated return is not matched by the pension fund, forming a liability.

Then either the taxpayer must bail them out, the company issuing it, the insurance if there is any, or pensioners get shafted.

I believe private sector has moved away from these pensions while private sector has held onto them on average.

My pension is with nest auto enrollment, the structure is good, and the only real changes i would make is perhaps to alter the contribution %, where perhaps i could put more in, and my employer matches that higher amount.

Keep in mind that your pension whatever it is, is part of your total salary, its not a standalone thing, if you have a better pension it means you could have been paid more instead.

However as we can see in defined benefit schemes or similar, usually in the public sector, this is generally not the case as many of them have created liabilities, i.e. the pension was too good due to poor assumptions.
 
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ivrytwr3 said:
New pay rise figures have been published:

RAF Pay Scales | RAF Ranks and Pay 2025

www.armedforces.co.uk www.armedforces.co.uk

7.25% rise for me.
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Frustrating seeing the payscales when our trade used to be on the high payband only to be changed to the lower ones.

Even more frustratingly, if it was judged on the part of the trade I was part of I would've been a level or two up. But our trade being so diverse really messed that audit up.
 
Begbie said:
I don't contribute to my pension.

I also definitely get more days off than the average private sector, not including the paid days off I get for skiing, at, etc. (probably another 2-3 weeks a year).

Id say that's pretty unique.
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So you are on the navy ski team?

Edit my friend was on that, it was 1month skiing abroad per year which was double pay, pretty good deal lol :)
 
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Begbie said:
I have similar time, still leaving though.

Yes, not quite as simple as going back to 05 it seems, might be better on the 15 for the SPA pay. Depends how far past SPA we live.

Don't see why you wouldn't BES though, I would if I was staying in. Only a few years of actual work after training, plus you can probably avoid most of that :p
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How long will you have done when you leave?
 
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