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Do non-teachers resent teachers' good pensions

Discussion in 'Personal' started by lindenlea, Mar 30, 2016.

  1. lindenlea

    lindenlea Star commenter

    @lanokia commented on the complacent retired cat pictures, saying that's why non-teachers resent teachers. Is this common these days among working people?
    Among my retired acquaintances I did know someone who was resentful of public sector pensions, but he had been quite happy to have his private sector perks while he was working. Remember the days when bank or building society employees got preferential rates for mortgages. Company cars were a real perk "in the old days" and I hear no end of tales of company jollies from my walking group friends. Son 2 has lousy pension arrangements but works in an exciting star bizzy environment- yer pays yer money and yer takes yer choice
    I went into teaching because I lacked the imagination to work out what else I might do and husband went into the public sector for job security - we only learned about the good pensions as fewer companies offered final salary schemes and discussion of annuity rates became a feature of the personal finance pages of the papers. My father worked for CEGB and had an even better deal and my brother in law has a great deal too from a Japanese based company.
    Someone I know who has every right to resent others good deals is someone who lost much of his pension pot in Equitable Life and I don't know how that was sorted out. He was highly paid so was able to set up new pension arrangements to make up his losses.
  2. FrankWolley

    FrankWolley Star commenter

    I am retired*, and I have no complaints about my pension - but after over 3 years, incl. nearly a decade on SLT, I have less than £1300 per month net. We're comfortably off, but hardly rich.

    * For the sake of accuracy, I will add I retired early on a reduced pension. My choice...perhaps! Looking at so many posts on here, I suspect I jumped before I could be pushed!
    lanokia and lindenlea like this.
  3. InkyP

    InkyP Star commenter

    I knew someone who used to go on about what a cushy life teachers had and the 'gold-plated pensions' until his daughter became a teacher.... enough said.
    wanet, lindenlea and FrankWolley like this.
  4. peakster

    peakster Star commenter

    Do non teachers want to be teachers ?
    lindenlea likes this.
  5. FrankWolley

    FrankWolley Star commenter

    In my experience it's still the holidays that wind people outside teaching up...

    My response was never to argue the point, but just go on, at length about how wonderful it was, then add 'And why don't you train as a teacher and get the same advantages'? None ever did, of course...
  6. lindenlea

    lindenlea Star commenter

    Me too Frank :)
    Dragonlady30 likes this.
  7. lanokia

    lanokia Star commenter

    My comment was a result of reading the DT and DM comments sections on teaching stories...

    I know I know, my mistake. But there are some folk who really harbor a grudge about public sector pension... like somehow public sector workers don't deserve them...

    Always amazes me how meekly private sector workers accepted the downgrading of their pensions.
    wanet and lindenlea like this.
  8. InkyP

    InkyP Star commenter

    Yes I did that too and the usual response was 'Oh I'd hate that.' or 'I couldn't do that.'. Well, I used to like it and I could do it so I got the pension and the holidays.
    wanet and lindenlea like this.
  9. Flere-Imsaho

    Flere-Imsaho Star commenter

    I think there's a perception of gold plated pensions but very few people prioritise pensions or bother to do the sums to find out exactly the differences between their own scheme and the "gold plated public sector" ones.
    bonkers 704, ValentinoRossi and wanet like this.
  10. Richie Millions

    Richie Millions New commenter

    The poor resent the rich, the rich despise the poor. The rich need the poor to be rich. The poor do not need the rich. A recipe for social revolution which has acted out many times over history.
  11. peakster

    peakster Star commenter

    My Wife is not a teacher but her pension is way better than the teachers one.
  12. lindenlea

    lindenlea Star commenter

    Now I understand - sigh!
  13. lanokia

    lanokia Star commenter

    You'd think I'd know better...
  14. EllisCarver

    EllisCarver Established commenter

    I think you will find the funding methods are different such that final salary schemes in a company are no longer financially viable. If they were guaranteed by taxation then there would have been no change.
  15. Mangleworzle

    Mangleworzle Star commenter

    The teachers pension was never really that great, what changed was that private sector pensions got worse, although now of course the teachers pension has got worse too.

    At some point some one, a journalist I suppose looking for nice simplistic epithet used the phrase "gold plated" and so it has stuck. The only "gold plated" part of it is that you know what you'll get (until they change the rules again) rather than it all being dependent on the markets at retirement. The actual amount of it is usually far less than people seem to expect, instead of a large gold-plated urn full of cash, you get a gold plated tie-pin.

    I agree about the in-work benefits of the private sector that are conveniently forgotten about.
    bonkers 704, jacob, wanet and 2 others like this.
  16. foxtail3

    foxtail3 Star commenter

    My neighbours have excellent pensions. One has shares, trusts, etc, etc and is very comfortably off. His wife has no pension, having only worked for a short time, but they most certainly don't struggle. He worked in computers.

    Another was in the police and had two careers afterwards. Not rich, but definitely comfortable.

    We, on the other hand, struggle a bit these days. Partly because I helped out the children with cash and so on, but Mr F is still working and not earning much. My pension is not good and we have little in the way of savings.
  17. FrankWolley

    FrankWolley Star commenter

    Two points:

    • Weren't a lot of the 'problems' in private pension schemes caused by changes in the rules, esp. when Brown was Chancellor, which allowed firms to pay less into schemes and, if I remember correctly, increased taxation on schemes, justified by the claim that many private pension schemes had too much money in them?
    • The TPS scheme today isn't nearly as good as that I joined 35 years ago...changes have been made to make it more affordable (for the state).
    wanet and ValentinoRossi like this.
  18. grumpydogwoman

    grumpydogwoman Star commenter

    My OH doesn't resent mine.

    But then she gets annual bonus (over 30% in 2015) and the company puts £15 into her pension pot for every £10 she contributes. Oh, and the money she takes instead of having a company car.
  19. jacob

    jacob Lead commenter

    Blame the press.
  20. bonkers 704

    bonkers 704 Lead commenter

    It was under Thatcher (I think) that private pension schemes were allowed to take "pensions holidays" which they promptly did, and from which many never recovered.
    wanet likes this.

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