Great so despite being a net contributor to the pension scheme i’m being told that my pension is being cut and i have to contribute more and i may not be eligible for teh schemem in the future.

Probably been done before but this is a bit of a bugger to be honest.

Oh and no pay rise again. Lovely.

What’s a pay rise?

Poor rant ! 2 out of 10 only for the bad spelling

but lack of capitals and exclaimation marks let you down 😛

What’s a job?

A pay what? Has you efficiency gone up?

Great cricketer

You should count yourself lucky that you have:-
1) A company pension
2) Not had a pay cut
3) A job.

yes and that we dont come and beat you and eat your young
This is post thatcher britain no one care sabout th ecollective they only care about themselves
I agree up to apoint but we will all live longer and that means pensions costs wil rise
personally I think the solution is to look at the current crop of pensioners/those about to retire – they are the ones whose payments given will not match the payments recieved – think a cap is reasonable as well as the odd expensive members get massively as well – I know the average is only about 4k Pa and £2.4 k for women.
Both my parents [divorced] have ridden the property bubble massively and now find themselves retired with expensive unmortgaged houses 60 K payouts + pensions and have the money to spend 6 mths abroad in their 30K campervans. They are not far behind me in terms of income and given no mortgage are certainly higher in terms of disposable income and everywhere we go they get in cheap 😯
Unfortunately due to longevity the status Quo is not sustainable

Been pointed to the NHS pension site this morning to read that my pension may be frozen ‘if’ (more like when) Hutton’s recommendations are implemented. Kind of annoying that I am being expected to put a lot more in for no great increase in return, seeing as I already pay more in due to my grade. Nowt we can do about though.

Its also worth pointing out that the NHS pension has already been reformed and is in surplus – more money comes into the fund than goes out

Its also worth pointing out that the NHS pension has already been reformed and is in surplus – more money comes into the fund than goes out

Any projected data available for say 20 years in the future ?

I saw on the news yesterday that one in four children born today are expected to reach 100 years of age.

24 years student, 40 years work, 36 years retired how do we pay for that?

all the pies – thats hardly fair – yes there are liabilities in the future but that is because its a revenue funded the previous and current surpluses go into the exchequer and are not invested separately for the future.

not unfair I’d suggest TJ

say you had a private sector (or money purchase scheme as they can reasonably be called now) with say Equitable Life say – you be ****ED now, whilst if you have a public sector pension then no matter how much money the scheme owners piss up the wall you’re covered and you get a guaranteed amount of money

nice of all political parties to studiously ignore the pensions problems (people living longer, financial seperation between public/private[we’re all in this together] pensions for at least the last 30 or so years,

I don’t have a company pension scheme, I haven’t been able to afford to pay into mine for 6 years now, I have a contract only till September a rubbish 3rd sector salary and no property….. hmmmmmm……

I’m going living with Junkyards Dad, can he cook?

Its also worth pointing out that the NHS pension has already been reformed and is in surplus – more money comes into the fund than goes out

Any projected data available for say 20 years in the future ?
There’s going to be a NHS in 20 years time? 😯

If the surpluses over the years paid as pension contributions had been invested then the NHS pension fund would be a huge amount of money dwarfing its liabilities. However the surpluses have been treated as revenue by the exchequer. Why should the pensioners pay for that again – they have already paid once

yes there are liabilities in the future but that is because its a revenue funded the previous and current surpluses go into the exchequer and are not invested separately for the future.

akin to a pyramid selling scheme if you ask me, paying current liabilities out of current cash flow 😉

40 years work? More like 50-60.