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Thedelldays

By Thedelldays,
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Whitey Grandad

Whitey Grandad

Posted
Posted
Joe

 

Please read this link fully: http://www.tuc.org.uk/extras/publicsectorpensions.pdf

 

It argues the case against the commonly held views about public sector pensions far more succinctly than I ever could!

 

The whole question of public sector pensions started to be addressed some time ago (as this document shows).

 

The document also explains very well how, to a great extent, public sector pensions are funded by members' current contributions rather than from another public purse. It suggests that, to change to a system similar to private pension schemes, would require a significantly high input from government to pay for these contributions which would no longer be forthcoming. I'm no accountant so I can't think through the argument very well.

I've just skimmed through it because I'm off on holiday tomorrow, but it does have some twisted logic in places and often muddles the distinction between public employees' benefits and state hand-outs. You are right to point out that the current contributions are paying for current pensions so I'm sorry VFTT, your 6.5% is not going towards your own pension. The problem is not necessarily the size of the pensions but the quantity of them, and they are all 'unfunded'. My gripe is that when Brown raided the private pensions and brought the whole system crashing down, there was not an equivalent contribution from the public sector. I don't know where this retire at 65 comes from, I know lots of ex Local Authority people who have taken retirement earlier than that.

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buctootim

buctootim

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I don't know where this retire at 65 comes from, I know lots of ex Local Authority people who have taken retirement earlier than that.

 

They changed the terms about 8 years ago. Anyone in before that can retire at 60, in after and its 65.

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bridge too far

bridge too far

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Posted
I don't know where this retire at 65 comes from, I know lots of ex Local Authority people who have taken retirement earlier than that.

 

As with a private sector pension, anyone can retire at any age they choose. However, the salient point is

 

YOU CANNOT RECEIVE YOUR PENSION UNTIL YOU REACH 60 / 65

 

I don't know why people have so much trouble understanding that very simple fact.

 

I have 'retired' from the NHS. I can't get my pension for a number of years yet. My pension is frozen at the time I left the NHS.

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badgerx16

badgerx16

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Posted

 

YOU CANNOT RECEIVE YOUR PENSION UNTIL YOU REACH 60 / 65

 

I don't know why people have so much trouble understanding that very simple fact.

 

Because it doesn't match their agenda, which is derived from what they read in the Daily Hail.

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Lord Duckhunter

Lord Duckhunter

Posted
Posted
As with a private sector pension, anyone can retire at any age they choose. However, the salient point is

 

YOU CANNOT RECEIVE YOUR PENSION UNTIL YOU REACH 60 / 65

 

I don't know why people have so much trouble understanding that very simple fact.

 

I have 'retired' from the NHS. I can't get my pension for a number of years yet. My pension is frozen at the time I left the NHS.

 

My mate is a teacher, he told me himself that he can retire and draw a pension from 55. Is he wrong? If so, I hope he's not teaching the children economics.

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Seaford Saint

Seaford Saint

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My mate is a teacher, he told me himself that he can retire and draw a pension from 55. Is he wrong? If so, I hope he's not teaching the children economics.

 

You can retire at 55 and draw a pension. Before April you could do the same at age 50. You take a hit for doing it each year before normal retirement age you lose a proportion of the pension

 

I only know this because Vodafone stopped their final salary scheme a few months ago and I got offered and took the pension, got a lumps sum and a pension whilst at the same time continuing to work for them just like before :) - I am quids in sitting here with my £500 headphones, my present to myself.

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GenevaSaint

GenevaSaint

Posted
Posted
tonights episode are just scratching the surface on the cuts we will see in the local areas

this is going to be bad..I fear labours legacy will be horrific

 

I agree to a point TDD, but I've just read that the ConDems are going to freeze council tax for two years. That's a travesty given the central funding cuts probably already on the way.

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