Public Sector Pensions ... Grrrr

**robnjc** · 7 September 2007, 07:58

The public sector union pension funds - they're some of the biggest investors on the market. Don't worry its not your taxes.

My wife has one - its great - instead of money-purchase AVC's she can actually buy extra years of service!! This is possibly the single best piece of advice my financial advisor ever gave me.

**Troll** · 7 September 2007, 08:00

Originally posted by robnjc View Post

The public sector union pension funds - they're some of the biggest investors on the market. Don't worry its not your taxes.

Employers contribution?

**ChimpMaster** · 7 September 2007, 08:07

It hacks me off no end to hear about how our taxes are used to inflate the public sector. They should scrap current government and rebuild in the mould of an efficient business.

In your case, shoot your uncle dead - this way you'll save the burden of taxes going to fund his pension, and you can go to jail to live a life of luxury, paid for by your own past tax contributions.

**FiveTimes** · 7 September 2007, 08:16

Originally posted by TazMaN View Post

In your case, shoot your uncle dead - this way you'll save the burden of taxes going to fund his pension, and you can go to jail to live a life of luxury, paid for by your own past tax contributions.

and if you are really lucky he might have left you something in the will

**interested** · 7 September 2007, 08:34

Originally posted by the guy with the bowtie View Post

I have an annoying uncle. He takes great delight in telling anyone who will listen how great he is.

He has been a civil servant since leaving school. In the few conversations I could tolerate I have deduced he never added any value or worked under serious pressure to produce within a deadline. He appears to have no transferrable or marketable skills.

Rather than accept a transfer to somewhere in Wales, he has just taken early retirement (he is 51). He says they gave him a clock, £80k lump sum and £30k per annum linked initially to salaries then, when he is 60, to inflation. Even factoring down for bulls**t this is still beyond my wildest dreams. In my planning I calculate I will need £150k equity just to equal the annual income from the State Pension.

Who is paying for this enormous and increasing commitment ? ...

Methinks there will come a time fairly soon when "honest working people" to quote Gordon will start to question this.

Rant over.... Stand easy

The public sector pensions liability is about £550bn according to official figures, perhaps double that if you listen to the likes of Watson Wyatt or Grant Thornton

Guess who pays?

**Old Greg** · 7 September 2007, 08:41

Hey - I've got 8 years paid into a public sector pension. Hands off.

**Gibbon** · 7 September 2007, 08:49

Originally posted by interested View Post

The public sector pensions liability is about £550bn according to official figures, perhaps double that if you listen to the likes of Watson Wyatt or Grant Thornton

Guess who pays?

We've been here before, however lets go again.

Public service pensions are not free they have to pay superannuation. In my wife's case if she had put her money into savings at 5% interest she would be looking at 450K upon retirement. Out of this she gets a lump sum of 70-80K and pension of 18K. Not exactly brillant.

The problem with council pensions is they don't put the money into a pot, they spend it and the former workers pensions have to come out of their budget. People are living longer so the proportion of the budget going on pensions increases.

**TheFaQQer** · 7 September 2007, 09:49

Does working as a maintenance worker for Metronet count as qualifying for a public sector pension?

I quite fancy that one, seems easy.

**gingerjedi** · 7 September 2007, 10:02

They generally get 5hit money throughout their working life and this is the upside, I don't lose any sleep over this sort of thing.

Public Sector Pensions ... Grrrr