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[OT] Pensions

Discussion in 'Computing and ICT' started by autismuk, May 11, 2011.

  1. That's a good argument - the ones based around numbers are nonsense.
    I suppose the only real counter is that the current government is doing what the last government wanted to but backed down from when the Unions got angsty ; viz. that the pension was never affordable, and those people giving you 'clear indication' were lying to you.
    There's a (true) story from the US about this. A governer doing the same sort of thing was booed by the firefighters. He told them (perhaps bluntly) ; why are you booing the first person to tell you the truth ?
    Fair enough, most people would agree, but that's not a reason to pay an unaffordable pension. The current behaviour of Huhne is not unrelated, I'm sure to the fact that he's just qualified for a ministerial pension, by about 1 day.
     
  2. It is possible to get out of TPS, I think. Why you would want to is beyond me.
    You are getting about 20% of your salary in pension contributions. If you want to keep the same goodies - indexed linked, retire at 60, transferrable ; and the contributions have to be indexed as well, how much do you think you would get ?
    (Incidentally, it's the first that's the real problem. It makes an enormous difference)
     
  3. tonyuk

    tonyuk Occasional commenter

    Its an interesting one - I think if there was a strike with ALL unions involved it would work as it means there is no babysitting service so people will have to take time off work to look after their kids - this will bring teh country to its knees. Teachers amaze me in that they do nto realise the power a strike would have it effects so many people (unlike the miners). However it means everyone would have to come out!
    The other annoying thing is that we can not pay into the teachers pension and have a seperate one outside so we can choose where to put our money (rather than teh top up we have now).
     
  4. Because this is clearly a Ponsi scheme. If you think that the government will stop at these proposals, good for you. I think they will continue to reduce the benefits and increase the costs. We (the many teachers) are paying for the (fewer) teachers who are retired and still alive. As time goes by there will be more of us taking the pension. The govt hasn't put any money aside and will continue to try to make current teachers pay for the retirees. That cost will rise, so those teachers will pay ever more and the pension paid will fall.
    I have only been in teaching a few years and the pension I would get by sticking this out till I'm 66/67/68 (or whatever they decide to move it to) is not so handsome. Especially as they are also asking me to work a load more years.
    In any event, I am talking opportunity cost of money. When I decided to leave I set up a part time business. For each pound I invested over this last year I now have 3 (after tax). As I buy more that multiple is going up. I can't believe it, but the turnover is close to half a million a year. I haven't borrowed a penny. No trade debt.
    The push was Gove spouting his guff after the election. I CAN do sums thanks. At this rate I will have paid off my mortgage about the same time as my daughter leaves school. £20k invested will have yielded well over £200k.
     

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