Davy51 Posted September 18, 2012 Report Share Posted September 18, 2012 Elaborate advert on tv last night publicising the forthcoming employee pensions that will affect everyone working because the employer will also contribute to your pension,as already happens with good schemes. It does make you wonder though how many people will actually benefit from this if Vince Cable gets his way & makes life easier for employers to sack employees by dumbing down employment laws & reducing the power of employment tribunals. No doubt Vince is cosying up to CBI for a good job when he gets booted out at the next election. Quote Link to comment Share on other sites More sharing options...
Bazj Posted September 18, 2012 Report Share Posted September 18, 2012 I have a question that will have the lefties and luvvies punchng their screens... why should a company pay for a workers pension? and before you ask, my company has (what was previously called a stakeholder scheme which means the company contributes towards an employees pension providing the employee opts to contribute himself) but back to the question.... why should a company pay for an employees pension? If you employ someone, you pay them to work, you pay them to be sick, you pay them to travel and you pay them to holiday... surely it is up to the employee to pay for himself once he is no longer in my employ? Just as with the benefits argument, if someone can afford flashy cars, holidays abroad and designer clothes; surely they should pay for their own pension? If I employ someone and he works for me for say five years and during that time I pay his pension contribution.... if after five years he tells me to stick the job as he is going elsewhere, should I be able to claim back pension contributions I have made or maybe even claim them from his new company??? Discuss! Quote Link to comment Share on other sites More sharing options...
wolfie Posted September 18, 2012 Report Share Posted September 18, 2012 Quote Link to comment Share on other sites More sharing options...
Peter T Posted September 18, 2012 Report Share Posted September 18, 2012 Wasn't it lieu(part) of a salary of a salary increase because the private sector got the pension included??? Quote Link to comment Share on other sites More sharing options...
wolfie Posted September 18, 2012 Report Share Posted September 18, 2012 Because the State can no longer afford to support, on its own, people who are living longer. Quote Link to comment Share on other sites More sharing options...
observer Posted September 18, 2012 Report Share Posted September 18, 2012 Well, the money has to come from somewhere, unless you want a future where your tripping over Grumpies begging in the street! Think the conclusion is Baz; that generally, young folk can't be trusted to take up a pension scheme, when they have other youthfull distractions to spend their money on - and IF you want workers to afford private pensions in the first place, you'd probably have to pay 'em more to do it, or pay more taxes towards State Pension provision. This Gov of course, would no doubt prefer others to pay for pensions anyway. Assuming the projected average longevity, I doubt future pensions, private or public, will be adequate ; even if they keep increasing the retirement age. So, a bit of s**t sandwich for future generations to bite into! Quote Link to comment Share on other sites More sharing options...
fugtifino Posted September 18, 2012 Report Share Posted September 18, 2012 Baz's question is a fair one, and doesn't in the least make me want to punch anything. Genuine question 'cos I really don't know the answer, is it a legal requirement that an employer contributes to employee pensions? Quote Link to comment Share on other sites More sharing options...
Evil Sid Posted September 19, 2012 Report Share Posted September 19, 2012 not yet but it will be no doubt. Also look out for the next round of adverts for legal claims for mis-sold pension plans etc. The way it is looking the employer IS obligated to provide a pension plan(or at least have a pension plan in place) but the employee is NOT obligated to join it. So how does that work for part time workers I don't know because the level of employee contributions is based on their minimum earnings for the year. Be back to people on the lump before long. Quote Link to comment Share on other sites More sharing options...
Cleopatra Posted September 19, 2012 Report Share Posted September 19, 2012 The employer is already heavily taxed. Add the burden of paying for his employees' pensions and there would be more employers going out of business and unemployment will rise accordingly and who pays them then? Quote Link to comment Share on other sites More sharing options...
wolfie Posted September 19, 2012 Report Share Posted September 19, 2012 Employer’s contributions to a company pension plan not only are not subject to national insurance contributions, but they also qualify 100% as a deduction from company profits to reduce corporation tax. Quote Link to comment Share on other sites More sharing options...
Davy51 Posted September 19, 2012 Author Report Share Posted September 19, 2012 Isn't the idea of employer contributions to encourage employees to join a pension scheme.Pension schemes are a good idea if there are times of economic boom where a worker could go through his/her working life with the majority of years in full time employment,however,the problems start in times like the present economic climate where the only jobs are agency, part time or temporary when no one can really plan for future years ,let alone retirement. In that case a pension no matter how small usually disqualifies the pension holder from any state benefits whatsoever & certainly doesn't provide a pot of gold at the end of the rainbow. Quote Link to comment Share on other sites More sharing options...
observer Posted September 30, 2012 Report Share Posted September 30, 2012 At the end of the day, the money has to come from somewhere - and the obvious target is the super rich who monopolise capital. Redistribute it through taxation, and more folk with more money = more spending = more demand = more jobs and the merry go round can get going again. Quote Link to comment Share on other sites More sharing options...
RingoDave Posted October 1, 2012 Report Share Posted October 1, 2012 Maybe I'm being a bit simple, but isn't this rather academic while chancellors have the possibility, as Gordon Brown proved, of just taking money from the "pension pot" to attempt to balance his other books. I, for one, can see this happening again in the near future, especially with the current crop in charge. Quote Link to comment Share on other sites More sharing options...
observer Posted October 1, 2012 Report Share Posted October 1, 2012 Watching further info on the news, it appears that folk can opt out of these schemes, and are very likely to do so on the grounds of affordability - so we could still eventually be tripping over OAPs begging in the streets; especially if benefits get cut. Quote Link to comment Share on other sites More sharing options...
asperity Posted October 1, 2012 Report Share Posted October 1, 2012 Surely the problem is that the government is taking our money and urinating it against the nearest wall (or furthest if you're talking about India). When did it become legal for the government of the day to decide how much of our salaries we should be allowed to keep? Get rid of all of the thieving politicians and start anew. Quote Link to comment Share on other sites More sharing options...
observer Posted October 1, 2012 Report Share Posted October 1, 2012 It became "legal" Asp, when the first elites appeared in history; payed for by a tax on the surplus production of the masses. Quote Link to comment Share on other sites More sharing options...
asperity Posted October 1, 2012 Report Share Posted October 1, 2012 You don't half talk rubbish Obs :grin: Quote Link to comment Share on other sites More sharing options...
Bazj Posted October 1, 2012 Report Share Posted October 1, 2012 You don't half talk rubbish Obs :grin: How long have you been a member on here Asp? and its took you how long to work that out?? Quote Link to comment Share on other sites More sharing options...
asperity Posted October 1, 2012 Report Share Posted October 1, 2012 A bit slow on the uptake me :blink: Quote Link to comment Share on other sites More sharing options...
observer Posted October 2, 2012 Report Share Posted October 2, 2012 I can't help it if you've never read a book Asp! Quote Link to comment Share on other sites More sharing options...
algy Posted October 2, 2012 Report Share Posted October 2, 2012 Would someone please explain to this 'thicko' what all this hoo haa is about with this 'new' contributory pension scheme, I was made to join the ICI 'contributory' pension fund and wasn't given an option in 1967, and am I glad I did!, aren't they just reinventing the wheel yet again. Quote Link to comment Share on other sites More sharing options...
Lt Kije Posted October 2, 2012 Report Share Posted October 2, 2012 Companies don't like it because they are being made to contribute to it algy, like you I think it is a good idea Quote Link to comment Share on other sites More sharing options...
algy Posted October 2, 2012 Report Share Posted October 2, 2012 Companies don't like it because they are being made to contribute to it algy, like you I think it is a good idea Back in 1967 there were also companies who bore the total cost of non-contributory pension funds, my father was in one with what was Laporte Chemicals Ltd at Baronet works at Walton, and I thought he was he was on a complete winner, don't suppose there are many of those about today. Quote Link to comment Share on other sites More sharing options...
Lt Kije Posted October 2, 2012 Report Share Posted October 2, 2012 In those days algy, people were valued by their employers, now you are just a number, A necessary expense Quote Link to comment Share on other sites More sharing options...
Peter T Posted October 2, 2012 Report Share Posted October 2, 2012 Back in 1967 there were also companies who bore the total cost of non-contributory pension funds, my father was in one with what was Laporte Chemicals Ltd at Baronet works at Walton, and I thought he was he was on a complete winner, don't suppose there are many of those about today. I was fortunate to be in that one Algy. Didn't this all come unstuck when brown robbed the pension fund which had a knock on effect of companies no longer being able to afford paying the full pension contributions? Quote Link to comment Share on other sites More sharing options...
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