Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Tom - right now these pension for Teachers etc are subsidised very heavily indeed out of that general taxation so all that is happening is a minor reduction in that subsidy.
I repeat, for the majority of people to get a pension to match the public sector, they would have to invest around 35% of salary and even then would lack a lot of guarantees and benefits.
I refer you to the figures I give above for what benefits are, they are perfectly factual and cannot be dismissed whatever misrepresentation the left wing media and unions try to put out.
You talk as if everyone in the private sector get share options and bonuses, they most certainly do not - the fact remains schemes that provide anything approaching the public sector schemes are as rare as rocking horse poo and are set to disappear all together.
Guest 710- Registered: 28 Feb 2011
- Posts: 6,950
So, Barry. You freely admit that there is such a thing as Rocking-Horse Poo?
But if, as is widely accepted, there is NOTHING amiss with the Public Sector Pension Scheme and, as you say, much that is poor with the less well endowed Private Sector Schemes why then do you not propose to improve matters for the Private Sector?
How much of the 35% you mention is set to go towards the purchase of Porche-like items?
This is no more than jealousy, is it not?
Ignorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
The simple answer is that such schemes are totally unaffordable and if you want more unemployed and business bankruptcies forcing them to provide schemes such as the public sector will do just that.
The 35% is simply the amount that would need to be invested, using a reasonable set of calculations on a basis allowed by the FSA, to build a fund sufficient to provide a comparable pension. The actual fund will depend on the success of the investment strategy, the risk profile of the member, the level of inflation and annuity rates at the time of retirement.
We have had a number of issues hit the viability of defined benefit pension schemes such as the public sector schemes: Some of these factors also result in the need for private sector employees to pay more into their own schemes.
..Mortality rates, people are living longer so a bigger fund is needed to provide the guaranteed level of pension from such schemes.
..15 year gilt rates have fallen like a stone further bringing down annuity rates. QE is forcing these rates down further. That means the amount of income generated from each £1,000 of fund is falling.
..admin and regulatory costs - these include regulations imposed under the 1995 Act as well as more recent changes such as the need to fund the Pension Protection Fund - complying with new EU laws etc.
..generally poor investment returns since 1999 have also had an impact on scheme funding levels.
..The taxation of pension funds has also had an impact taking £5bn a year from schemes already under pressure.
I could go on but it is wrong that the public sector should enjoy such feather bedded pensions paid for from the taxes paid by people who are not putting enough into their own pensions.
Guest 659- Registered: 13 Mar 2008
- Posts: 331
Guest 694- Registered: 22 Mar 2010
- Posts: 778
not really that bothered in fairness as long as i can get to my event over in canterbury for some fundraising for a charity!
And I must say WELL DONE TO DGGS for staying open!
Guest 662- Registered: 18 Mar 2008
- Posts: 325
"look at it the other way round, those people involved in wednesdays dispute wont forget who DIDN'T support them" !!!!!
Really what are they going to do for us - share their already substantial pension with all those that wont get anything like it, despite also working gruelling schedules, night shifts etc.... since the age of 16???
We are not in the 80's anymore, if the government bow down to this blackmail I know where my vote will be going next time.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
don't see your logic, how is the way you vote affected?
all the parties are against the strike.
Guest 694- Registered: 22 Mar 2010
- Posts: 778
and lets not forget that public sector workers get support/cheaper deals to get a house, and lots of discounts....
including my mum, which is fine, because adding her, made my car insurance 250 a year cheaper!
Guest 715- Registered: 9 Jun 2011
- Posts: 2,438
Best wishes to all those that feel strongly enough to strike tomorrow, not a decision you will have taken lightly.
Audere est facere.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
And also best wishes to all public servants who defy the strike call.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
best way to support the strikers is joining them on the picket line.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
No Brian the best way is for those of us in the private sector to keep working our privates off so we can afford to pay the taxes that fund their salaries and pensions.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 649- Registered: 12 Mar 2008
- Posts: 14,118
`work to rule yes,strike no.
Guest 710- Registered: 28 Feb 2011
- Posts: 6,950
I wonder, Peter, where these 'hard' working public servants spend the bit that's left after they pay their taxes?
Ignorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.
#52 says it for me!
Guest 653- Registered: 13 Mar 2008
- Posts: 10,540
Hear hear Bern and Peter.
I've said on an earlier posting that this strike is totally unnecessary and will not do any one any good and the unions will lose their members a good pension offer.
The "Looney Left" are still active - 80's term it might be, but 80's attitude still prevails.
If it isn't the lunatics running the asylum, then it's donkeys running the unions.
Roger
Guest 710- Registered: 28 Feb 2011
- Posts: 6,950
Yes Roger. I will give you four pounds for that fiver...who knows you may never get such a good offer down the line.
Ignorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.
Guest 649- Registered: 12 Mar 2008
- Posts: 14,118
Roger. I think your wording could have been better,some of the public who are out today,you will asking them to vote for you next time round,I do not agree with them going out,but there is no need to be rude,most of them think they are doing the right thing and who knows they might be right.You are sounding like Barry by the day.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Well said Roger - you are spot on.
This strike is all about protecting a privileged position at our expense - nothing else.
Guest 649- Registered: 12 Mar 2008
- Posts: 14,118
I was waiting for you to come in on it.Where do you get this privileged position from?
