Lt Kije Posted March 10, 2011 Report Share Posted March 10, 2011 A shake up of public pensions, Work longer, pay more, and take out less Cannot see them swallowing that without a fight Full story here http://www.bbc.co.uk/news/business-12687489 Quote Link to comment Share on other sites More sharing options...
AdrianR Posted March 10, 2011 Report Share Posted March 10, 2011 The country is skint and people are living longer. I think 60 as a retirement age at the expense of the tax payer isnt viable even when the pot is healthy. I cannot see how anyone can argue that element anymore. Isnt life expectancy somewhere over 80 now. Interesting to read that there is no diference in comparable pay between public and private sector. As a lifetime worker in the latter I have always paid for my pension and would never have got a final salary ever. I see plenty of people on very low salaries still havign to find payment for their pension. I think the hutton compromise makes sense. Quote Link to comment Share on other sites More sharing options...
Lt Kije Posted March 10, 2011 Author Report Share Posted March 10, 2011 I agree their has be something done, I work in the private sector and have only been able to pay into a private pension for the last 10 years, not that it is worth anything at the moment Quote Link to comment Share on other sites More sharing options...
inky pete Posted March 10, 2011 Report Share Posted March 10, 2011 Stick 'em on definited contributions pensions, just like most other people - no set retirement age then, and people can top up there own pot through AVCs if they're going to want to retire early. Might even give the public sector an interest in the performance of the real economy! Quote Link to comment Share on other sites More sharing options...
Bazj Posted March 10, 2011 Report Share Posted March 10, 2011 I have had a private pension since I was 18. (Thanks Dad!!) but bcause the returns are so bad, I am thinking of using the few hundred a month we put into a pension to by property while it is cheap. Get some mug to pay the rent and sell it when I retire...... Property is really low at the moment in comparison to a few years back so it would make sense..... I am looking into it next week! I don't want to work till I'm 68 to pay taxes to give to foreigners and scroungers....... Quote Link to comment Share on other sites More sharing options...
Lt Kije Posted March 10, 2011 Author Report Share Posted March 10, 2011 Does your company have a pension scheme Baz Quote Link to comment Share on other sites More sharing options...
Bazj Posted March 10, 2011 Report Share Posted March 10, 2011 Does your company have a pension scheme Baz yes it does and has had one since stakeholder pensions were introduced years ago. Wether the lads I employ want to join is another matter though! why do you ask? Quote Link to comment Share on other sites More sharing options...
Lt Kije Posted March 10, 2011 Author Report Share Posted March 10, 2011 Our company does as well, but as you say its a waste putting money in at the moment Quote Link to comment Share on other sites More sharing options...
Bazj Posted March 10, 2011 Report Share Posted March 10, 2011 I can't remember what the rules are now, but every company that employs "X" amount of people (possibly 5 I think) has to have a company scheme in place. If I remember rightly, I'm sure Liebor came up with plans that by next year or the year after, companys must enroll their employees and pay something in every month for each employee.....as if we don't pay enough!! Quote Link to comment Share on other sites More sharing options...
Peter T Posted March 10, 2011 Report Share Posted March 10, 2011 Perhaps if the two B's had stolen the Pension money, this problem wouldn't have occurred. Quote Link to comment Share on other sites More sharing options...
Lt Kije Posted March 10, 2011 Author Report Share Posted March 10, 2011 Nowt wrong with your statement Peter, but I think you will find the Tories had a go also Quote Link to comment Share on other sites More sharing options...
observer Posted March 10, 2011 Report Share Posted March 10, 2011 The only reason that public sector employees join a pension scheme is cos they are compulsory, and at the moment worthwhile. But as disposable income decreases, there will be even less incentive to make personal provision. Also, we have the prospect of a standard state pension being introduced irrespective of NI contributions - so a charter for the feckless? All this soul searching cos they've discovered folk are living longer, well they can blame that on the health facists! Quote Link to comment Share on other sites More sharing options...
asperity Posted March 11, 2011 Report Share Posted March 11, 2011 A charter for the feckless Obs? We've already got that Quote Link to comment Share on other sites More sharing options...
Robbo Posted March 11, 2011 Report Share Posted March 11, 2011 a charter for the feckless Quite right. People needed to have 44 years of national insurance contributions before they qualified for a full pension. That was then reduced to 30 years and now it's proposed that you won't need to have any, and still end up with a bigger pension than those who have worked and contributed all their lives. The politics of madness. Quote Link to comment Share on other sites More sharing options...
observer Posted May 11, 2011 Report Share Posted May 11, 2011 Anyone over 60 now, will dip out by around ?2grand a year - cos the new scheme won't come in till 2016 - so a bit of a birthday lottery. Quote Link to comment Share on other sites More sharing options...
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