Public Sector Pensions review

#1
The much awaited Public Sector pension review by Lord Hutton is due out this morning.

http://www.bbc.co.uk/news/business-12687489
 
#4
The spite-mongers at the daily hate and many of the ovine retards who read and buy into the bollocks that they print were quick to respond with predictable ill-informed glee this morning.
 
#5
there also a lot of civil servents who get paid jack shit wages,and joined for the pension.
police yesterday
civil servents today
you tomorrow
 
#6
Theres was a lot of Civilserpents bleating this morning.......welcome to the real world...and contribute to your own fecking pension
I'll just throw this one into the ring…

"…Even members of the Armed Forces, police and firemen, who can currently go on a full pension as early as 50, were told they will have to wait until they are 60 to qualify.…"

Read more: http://www.dailymail.co.uk/news/article-1364758/Public-sector-staff-told-Work-longer-smaller-pension.html#ixzz1GBeTg95B…"


I don't get my CS pension until I'm 65 anyway.
 
#9
I'll just throw this one into the ring…

"…Even members of the Armed Forces, police and firemen, who can currently go on a full pension as early as 50, were told they will have to wait until they are 60 to qualify.…"

Read more: http://www.dailymail.co.uk/news/article-1364758/Public-sector-staff-told-Work-longer-smaller-pension.html#ixzz1GBeTg95B…"


I don't get my CS pension until I'm 65 anyway.
How is that a change to existing 'preserved pension' arrangements for those in AFPS 05? Does it really mean that anyone will be required to serve for longer? Not a rhetorical question, am looking for answers here.
 
#10
I'll just throw this one into the ring…

"…Even members of the Armed Forces, police and firemen, who can currently go on a full pension as early as 50, were told they will have to wait until they are 60 to qualify.…"

Read more: http://www.dailymail.co.uk/news/article-1364758/Public-sector-staff-told-Work-longer-smaller-pension.html#ixzz1GBeTg95B…"


I don't get my CS pension until I'm 65 anyway.

If you were allowed to stay in the forces until 65 I would have no problem with that, but If you have to leave the Forces, Fire and Police..your pension should start after your "sell by date" how ever council/ 9 to 5 Civil servants should contibute more to their pension....as they do less ( I m off sick for 12mth on full pay due to stress)...Life is hard.....but its harder if your stupid!!
 
#11
So whats your take on it the Ivan?
Simply this mate.
I pay 11 per cent towards my pension which looks set to rise to 15 per cent. I,ve been paying this for 20 years and it now looks like i,ll have to work for 8 years longer to be able to qualify. Fine, i,ll suck it up if thats the case, but it pisses me off when some fat sweaty arsed journo who nevers steps out of their fleet street office writes drivel about "gold plated non contributory pensions" in order to play rabble rouser to the outrage whores and the great unwashed.
 
#12
Simply this mate.
I pay 11 per cent towards my pension which looks set to rise to 15 per cent. I,ve been paying this for 20 years and it now looks like i,ll have to work for 8 years longer to be able to qualify. Fine, i,ll suck it up if thats the case, but it pisses me off when some fat sweaty arsed journo who nevers steps out of their fleet street office writes drivel about "gold plated non contributory pensions" in order to play rabble rouser to the outrage whores and the great unwashed.
I take your point about the Jurnos.....But the private sector will have to pay a lot more than that to equal your pension as it is not subisdised by the Tax Payer. its tough out there!
 
#13
The vast majority of CS do contribute to a pension at present (despite the Daily Hate trying to convince people otherwise). The average CS pension is barely £7,000 per year - its not exactly gold plated is it!

Personally I have no huge problem with the changes, as my accrued pension will be okay, and any future 'average salary' pension will be based purely on my current grade. However I can see that with massively reduced promotion opportunities in future, new joiners will find it hard to get promotion and as such will see hugely reduced pensions in the long haul. This, coupled with salaries that are good for admin work, but poor once you need people with specialist skills such as engineers or project managers etc, will reduce the appeal of the CS as a long term career for people with key skills.

We can easily get new admin types, but we're going to struggle to get specialists in - and this means either getting contractors (even more drain on the budget) or more screwed up project management and problems. This will cause a problem in years to come and will hurt the front line. Its hard enough now trying to convince our procurement people and engineers to stay, when they could easily double their salary outside. Reforming pensions will make this retention battle that little bit harder.
 
#14
Given that the gap between contributions and pensions in payment would double over the next four years to £9bn, people have to remember that we are skint and paying millions every day on interest for the national debt. So welcome to the real world and I think that ALL public sector workers should pay higher contributions towards their pension pot during their working life.
 
#15
What sort of outlook is that for life!! most low paid private sector types wont even see a pension.....
the pension scheme was a sweetie to get staff years ago when no one wanted the civil service,there are a lot of good cs staff out there,and yes there are tossers as well.
 
#16
Does look as if the actual retirement age would, under these recommendations, eventually move to 60 which would make the scheme easier to fund. Not at all sure how that would work.
 
#17
What sort of outlook is that for life!! most low paid private sector types wont even see a pension.....
Through ignorance or just poor financial planning? There is nothing stopping anybody starting a pension fund so I'm finding it hard to understand your point.

I'm not a civil servant, I do draw an armed forces pension and I now contribute to my companies private pension at a rate of over £400 per month however I certainly don't begrudge these people the pension they signed up for. There are a hell of a lot of generalisations appearing in the press to try and justify this. "Private companies don't have final salary pensions" well mine does and only this year the pension review recommended no change to it's terms and conditions. "Private companies don't contribute to private pensions" well mine does, not a high rate I agree but they do contribute along with HM taxman. "Private pensions don't allow for early retirement" well mine does, I can retire at 55 provided I have completed at least 5 years in the scheme, admittedly it would be pension suicide because of the rate reduction but the point is I can. In fact my new pension and its benefits make the Armed Forces and civil servant's pension look like a charity contribution. In the private sector my pension is expensive, my job doesn't share the security of a govt worker and I don't share the benefit of a good redundancy scheme but they pay me a damn sight more than the government ever did to compensate for that and my company benefits of car, mobile, expenses system etc certainly don't leave me feeling envious of any civil servant or member of HM forces to be honest. Reading the shite spouted in the comments section of the daily wail and the Telegraph for that matter makes me believe there are a lot of envious and bitter people out there with too much time on their hands, I wonder just how many of them are receiving their full salary & benefits package from the state.......
 
#18
It's interesting that Hutton appears to have included Armed Forces pensions in his survey. I doubt they will do much about retirement age, but I think that career average will be very much on the cards.

Also interesting that they're talking about the problems of the population living longer - how does that fit with all the fat kids that the health police keep warning us are stacking up so many health problems that they will die before their parents?
 
#19
When the economy was good the Private Sector scoffed at the 'poor' Public Sector workers and made hay while the sun shone.

Now things aren't so good they are baying for the blood of those they once mocked. Funny how things change.

One noticeable thing is that MPs Pensions have not been included in the review so will no doubt stay the same, 2/3 final salary after 20years of service with 11% contributions. Now that is something to get outraged about!
 
#20
The vast majority of CS do contribute to a pension at present (despite the Daily Hate trying to convince people otherwise). The average CS pension is barely £7,000 per year - its not exactly gold plated is it!

Personally I have no huge problem with the changes, as my accrued pension will be okay, and any future 'average salary' pension will be based purely on my current grade. However I can see that with massively reduced promotion opportunities in future, new joiners will find it hard to get promotion and as such will see hugely reduced pensions in the long haul. This, coupled with salaries that are good for admin work, but poor once you need people with specialist skills such as engineers or project managers etc, will reduce the appeal of the CS as a long term career for people with key skills.

We can easily get new admin types, but we're going to struggle to get specialists in - and this means either getting contractors (even more drain on the budget) or more screwed up project management and problems. This will cause a problem in years to come and will hurt the front line. Its hard enough now trying to convince our procurement people and engineers to stay, when they could easily double their salary outside. Reforming pensions will make this retention battle that little bit harder.


Very good points Jim.

With the current pay freeze and a total lack of promotion opportunities right out to the horizon, even though I'm at the top of my pay band, I'm now falling behind the pace for my job externally. The chances of getting a vaguely competent and technically qualified outsider to come in and replace me at the bottom of the D band? Somewhere between FA2 and bugger all. I'm near enough to retirement to be able to suck it up, but 10 years ago? I'd probably have walked.

All the people gloating about the 'CS Scum' getting shafted better brace themselves for far more technical, procurement and management f**kups in the years ahead as the MOD CS rapidly deskills itself.
 

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