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Author Topic: Re: Inequality  (Read 626 times)

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Roger

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Re: Inequality
« Reply #20 on: May 13, 2019, 02:51:33 PM »

Not really shooting anyone at all Dam. I thought the article was an interesting look at a problem that needs more airing.

To the extent that Public Service Pensions are paid for by the State, (rather than employee contributions), this is an increasing burden on the Young who we also expect to fund massive and increasing healthcare costs of the aged like me - the same Young who may already be excluded from a very expensive housing market. I'd agree that the excessive level of PS pay packets at Executive level, including Pensions, needs to be looked at.

I'm not sure socialism is to blame, but the cost of PSP's will needs to be addressed in the coming years, although the topic is sensitive. Understandably!
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''If you can't explain it simply, you don't understand it well enough'' - Albert Einstein

caller

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Re: Inequality
« Reply #21 on: May 14, 2019, 12:12:46 AM »

You can't retrospectively means test a state pension after so many have paid into for most of their working lives.

You can say that from x date, perhaps with 10/15 years of their working lives left, that changes will be made, to allow those affected to make the necessary provisions. But that would have to be phased in based on their projected pension shortfall.

As for public employees not contributing to their pensions, this was only ever partly true. I knew when I joined local Govt. from Central Govt back in 1993 that I would ever thus be contributing to my pension and the higher I went the larger that contribution was. But when I left Central Govt (which I never wanted to do and only did so as my Dept. was being subsumed into another and I was never prepared to work for the other lot), my salary went up by 4k per annum, but nearly 50% went to my new pension conts.

And although I was moving on to effectively, a lesser job, but one with great potential, the 4k increase really demonstrated how, as civil servants, you knew there was a trade off between your lower salary and pension, irrespective if that is formally correct, it's why most were prepared to make do with that - and a sense of pride and responsibility, which certainly applied in my line of work. I could have easily done a desk job, rather than working as and when required anywhere the job took me, as I did for many years.

And for what it's worth, all civil servants now make some contribution to their pensions. As far as I am aware, no one gets a free ride anymore and other changes have been made as well - final salary pay out replaced by average salary pay out, working longer and so on.

And as an edited addendum, has anyone actually checked what the average public sector pension now is? A few years ago it was 8k per annum.
« Last Edit: May 14, 2019, 12:18:01 AM by caller »
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