Originally posted by Jeff Maginty
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Reply to: better off in the public sector
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Previously on "better off in the public sector"
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Originally posted by BrilloPad View Posteh? I thought it was still going up? Got any justification for that statement - I am very interested.
Life expectancy declining in many parts of US
Although a quick google shows it seems to be declining in plenty of other places too.
Originally posted by BrilloPad View PostThough I still think penion age should be set at the average life expectancy age.
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Originally posted by Freamon View PostIt's true to say that life expectancy in the West has peaked and is now in decline.
Though I still think penion age should be set at the average life expectancy age.
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I have to say I'm not too concerned about a pension at this point, I'm thinking I may invest my hard earned cash in another property after I've paid my current house off
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It's true to say that life expectancy in the West has peaked and is now in decline.
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It amuses me to see people seriously think about pensions like this - unless you are about to retire tomorrow rest assured that social security system as it is in the West is a just bigger version of Maddoff's pyramid.
Even if you get to pension age you won't live enough to enjoy it - most likely you'll be out of job for 10-15 years before pension kicks in due to increased threshold and stress of those year will kill you pretty quickly before you get any meaningful payout.
This assumes the pension won't be devalued due to money printing!
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Originally posted by SimonMac View PostNot sure where you get the 8 weeks paid holiday, 5 if your lucky and then maybe a increase after working there for god knows how many years.
and they still bloody moan- 6pm in office tonight and there was 3 staff left out of a team of about 60and yes you guessed it we are all contractors
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Originally posted by MrRobin View PostFor the NHS, atleast, it still works like this, except that it is on 'reckonable' pay, rather than final salary, which is unlikely to be much different.
Civil Service was always x/60 but this was to compensate for lower wages - when I've worked alongside Department of Health people, there wages have always been considerably lower than they would have been in the NHS.
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I joined in 2001 and left in 2008, I remember thinking at the time how good the pension was to be able to have up to 2/3rd's of your annual income to retire on. But now I've been in the real world for a couple of years I can see that given on how much they actually contribute it's unsustainable. It's basic maths really
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Originally posted by The Spartan View PostThe way that the pension used to work was that for each year you worked you would accrue 1/60th so if you worked for 40 years you would have 40/60th's (2/3rd's) of your final salary to retire on. So if you had a decent job toward the end of your civil service career you were laughing.
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