Government pensions not so gilt edged? Wondering about withdrawing from NHS pension.
13 January 2012, 08:16 PM
#31
You are right...... My Pension has been the same for 30 years and overnight they want to take £20 grand a year off it and make me pay more and retire later.
OK, I don't mind paying more or working a bit longer because that's the nature of the game.... but it's the loss of actual pension that really gets my goat !!
Shaun
OK, I don't mind paying more or working a bit longer because that's the nature of the game.... but it's the loss of actual pension that really gets my goat !!
Shaun
13 January 2012, 10:06 PM
#32
Scooby Regular
DingDongler
To be honest I've never questioned it.....the pension contribution has been coming out of my salary since 1982 when I started as House Officer at the London Hospital in Whitechapel.
Like you I could earn my monthly salary by working a week in Private Practice but for a lot of reasons that will never hapen LOL
Shaun
To be honest I've never questioned it.....the pension contribution has been coming out of my salary since 1982 when I started as House Officer at the London Hospital in Whitechapel.
Like you I could earn my monthly salary by working a week in Private Practice but for a lot of reasons that will never hapen LOL
Shaun
I know that place well!
Do you remember the pickled babies in jars in the path museum?
I presume you went for a drink at the students union? How about Good Sams? The Blind Beggar, The Grave Maurice etc?
Good times they were, cheap beers and young student nurses
Last edited by Dingdongler; 13 January 2012 at 10:22 PM.
13 January 2012, 11:15 PM
#33
Dingdongler
Two words...........The Feathers
Three words........John Harrison House
Three words.........The mile end run
Yep, I remember the Blind beggar, the Grave Maurice and the Good Samaritan (the Sammy), and the star and garter, Fieldgate Mansions, Pickled babies, The elephant man, scalopi / spagheti at the italian across the road........
Where did you qualify then ?
Shaun
Two words...........The Feathers
Three words........John Harrison House
Three words.........The mile end run
Yep, I remember the Blind beggar, the Grave Maurice and the Good Samaritan (the Sammy), and the star and garter, Fieldgate Mansions, Pickled babies, The elephant man, scalopi / spagheti at the italian across the road........
Where did you qualify then ?
Shaun
14 January 2012, 05:59 AM
#36
Scooby Regular
Dingdongler
Two words...........The Feathers
Three words........John Harrison House
Three words.........The mile end run
Yep, I remember the Blind beggar, the Grave Maurice and the Good Samaritan (the Sammy), and the star and garter, Fieldgate Mansions, Pickled babies, The elephant man, scalopi / spagheti at the italian across the road........
Where did you qualify then ?
Shaun
Two words...........The Feathers
Three words........John Harrison House
Three words.........The mile end run
Yep, I remember the Blind beggar, the Grave Maurice and the Good Samaritan (the Sammy), and the star and garter, Fieldgate Mansions, Pickled babies, The elephant man, scalopi / spagheti at the italian across the road........
Where did you qualify then ?
Shaun
The three feathers of course, forgot that!
When you say mile end run do you mean the rag week beer run?? That was mental, fricking mental.
Me and two mates did it three legged dressed just in jockstraps, surprised we didn't get arrested
14 January 2012, 11:53 AM
#37
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Pensions seem to be a minefield now as far as the employees are concerned. It started with G Brown and just seems to be continuing in some form or another. Looks like a lot of underhand dealing is being practised.
Les
Les
14 January 2012, 01:21 PM
#38
Yep. the three legged race. The serious contenders who wanted actually to win had "runners" who got to the next pub first and got the drinks in so there was no waiting at the bar LOL
Plod wasn't interested in my day as they all came from Leman Street and did as much drinking / tomfoolery as the students did.
Just remembered the name of the italian across the road.....Carlo's
Shaun
Plod wasn't interested in my day as they all came from Leman Street and did as much drinking / tomfoolery as the students did.
Just remembered the name of the italian across the road.....Carlo's
Shaun
14 January 2012, 03:57 PM
#39
You are right...... My Pension has been the same for 30 years and overnight they want to take £20 grand a year off it and make me pay more and retire later.
OK, I don't mind paying more or working a bit longer because that's the nature of the game.... but it's the loss of actual pension that really gets my goat !!
Shaun
OK, I don't mind paying more or working a bit longer because that's the nature of the game.... but it's the loss of actual pension that really gets my goat !!
Shaun
14 January 2012, 04:22 PM
#40
Cster
Currently on 1/80 th salary entitlement per year worked to a max of 40 years of 1/80ths....so I work for 40 plus years and get half my salary. Can't argue with that even if they do raise the contributions.
What they intend to do is make it a career average instead of a final salary which does me no favours whatsoever with a hospital career..........
Shaun
Currently on 1/80 th salary entitlement per year worked to a max of 40 years of 1/80ths....so I work for 40 plus years and get half my salary. Can't argue with that even if they do raise the contributions.
What they intend to do is make it a career average instead of a final salary which does me no favours whatsoever with a hospital career..........
Shaun
14 January 2012, 04:41 PM
#41
Cster
Currently on 1/80 th salary entitlement per year worked to a max of 40 years of 1/80ths....so I work for 40 plus years and get half my salary. Can't argue with that even if they do raise the contributions.
What they intend to do is make it a career average instead of a final salary which does me no favours whatsoever with a hospital career..........
Shaun
Currently on 1/80 th salary entitlement per year worked to a max of 40 years of 1/80ths....so I work for 40 plus years and get half my salary. Can't argue with that even if they do raise the contributions.
What they intend to do is make it a career average instead of a final salary which does me no favours whatsoever with a hospital career..........
Shaun
Slight movement of the goal posts for sure.
Contribution based is fairer, but is not what you signed up to.
I have always been wary of government pension schemes and super annuation taxation etc. - with good reason it seems.
14 January 2012, 05:09 PM
#42
Scooby Regular
Cster
Currently on 1/80 th salary entitlement per year worked to a max of 40 years of 1/80ths....so I work for 40 plus years and get half my salary. Can't argue with that even if they do raise the contributions.
What they intend to do is make it a career average instead of a final salary which does me no favours whatsoever with a hospital career..........
Shaun
Currently on 1/80 th salary entitlement per year worked to a max of 40 years of 1/80ths....so I work for 40 plus years and get half my salary. Can't argue with that even if they do raise the contributions.
What they intend to do is make it a career average instead of a final salary which does me no favours whatsoever with a hospital career..........
Shaun
Shaun, it may not be as bad as you think. I haven't fully digested the detail yet but though it becomes career average the multiplication factor then becomes more than 1/80th (? 1/60th) so that might compensate for it.
14 January 2012, 05:22 PM
#43
What I understand is that the accrural rate increases so that you work for 30 years to get the max pension instead of 40 years.
40 years at an 80th (40/80) is the same as 30 years at a 60th = 1/2 CARE.
As you say the calculations for each individual hasn't been done and I'd love to know if they have the details of my multiple appointments over the years ....
40 years at an 80th (40/80) is the same as 30 years at a 60th = 1/2 CARE.
As you say the calculations for each individual hasn't been done and I'd love to know if they have the details of my multiple appointments over the years ....
14 January 2012, 06:50 PM
#44
What I understand is that the accrural rate increases so that you work for 30 years to get the max pension instead of 40 years.
40 years at an 80th (40/80) is the same as 30 years at a 60th = 1/2 CARE.
As you say the calculations for each individual hasn't been done and I'd love to know if they have the details of my multiple appointments over the years ....
40 years at an 80th (40/80) is the same as 30 years at a 60th = 1/2 CARE.
As you say the calculations for each individual hasn't been done and I'd love to know if they have the details of my multiple appointments over the years ....
Perhaps another area for concern would be increased contributions?
14 January 2012, 11:37 PM
#46
when i started work is was
for men 44 years : 65-21 = 44
for women 39 years : 60-21 = 39
now for men and women it is 30 years
14 January 2012, 11:54 PM
#47
Not as far as I know
The Govt need to make steps to equalize men and women under equality legislation.
It has always been a mystery to me that women get the state pension 5 years earlier than men when it has been known for years that they live longer....
Statistically men should be able to get the state pension earlier as they die earlier so claim less.........but that will never happen LOL
Shaun
The Govt need to make steps to equalize men and women under equality legislation.
It has always been a mystery to me that women get the state pension 5 years earlier than men when it has been known for years that they live longer....
Statistically men should be able to get the state pension earlier as they die earlier so claim less.........but that will never happen LOL
Shaun
15 January 2012, 12:17 AM
#48
shaun,
when my company pension changed from 40/60ths to 40/80ths, the years I had 'earned' stayed at 60ths - it was only the 'future' years that would be at 80ths; basically a two stage pension. This 'might' be the same for NHS/STATE sector.
Having said the state sector is a different kettle of 'fish'
when my company pension changed from 40/60ths to 40/80ths, the years I had 'earned' stayed at 60ths - it was only the 'future' years that would be at 80ths; basically a two stage pension. This 'might' be the same for NHS/STATE sector.
Having said the state sector is a different kettle of 'fish'
15 January 2012, 09:37 AM
#49
Scooby Regular
shaun,
when my company pension changed from 40/60ths to 40/80ths, the years I had 'earned' stayed at 60ths - it was only the 'future' years that would be at 80ths; basically a two stage pension. This 'might' be the same for NHS/STATE sector.
Having said the state sector is a different kettle of 'fish'
when my company pension changed from 40/60ths to 40/80ths, the years I had 'earned' stayed at 60ths - it was only the 'future' years that would be at 80ths; basically a two stage pension. This 'might' be the same for NHS/STATE sector.
Having said the state sector is a different kettle of 'fish'
You are right. For those already employed in the NHS they will effectively have two pensions. One under the old rules and then one under the new rules from the time the change starts
15 January 2012, 10:04 AM
#50
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Even if you freeze, the age to get similar benefit will be 7 years older, and uplifting before and after retirement are CPI rather than RPI based.
15 January 2012, 10:23 AM
#51
Scooby Senior
I don't envy your your position. I don't believe you can trust governments not to make retrospective decisions that can hit your pension. In my case, I retired in 2008 and did my calculations based on receiving RPI. I had for many years been saving into a separate AVC fund so could decide whether/how much to take as a lump sum and/or additional pension. I made that decision based on the facts as they were known to me in 2008, but of course, the government came along a few years later and changed to CPI. Already costing me a lot each year.
Whatever I believe about retrospective changes though, you should retain all rights intact up to the date the fund changes, so as said above, effectively 2 pensions.
Good luck, I think you'll need it.
Whatever I believe about retrospective changes though, you should retain all rights intact up to the date the fund changes, so as said above, effectively 2 pensions.
Good luck, I think you'll need it.
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