MattW

The commission has now called for the state pension to become more generous, but become payable at a later age over the coming decades as life expectancy increases.

It suggests that the state pension age should rise gradually, to 66 by 2030, 67 by 2040 and 68 by 2050.

rik1471

Lol

drumsterphil

iTrader: (1)

Unless of course you work in the public sector, where you'll retire at 60 and get a nice final salary pension to boot...............

Scooby Snacks 23

That'll change in the future Phil.

I'm just reading through the Turner report to do a paper for my boss....

alcazar

iTrader: (2)

That will change too, but if you'd like it to change now, perhaps government would be willing to finance the back pay, public sector workers would be due, owing to their historically having lower wages than those in the private secor in order to finance the nice pension?

I think not.

And WHEN it changes, how will they fund keeping the public sector workers' pay level with those in the private sector? More tax to pay?

Private sector workers now jealous of the public sector pension/retirement plans are a bit like people without any pension at all other than state pension, being jealous of those WITH a private pension plan. They wanted to spend their money during their working years, now they want the larger pension too. I've got aunts and uncles just like that.

Alcazar

drumsterphil

iTrader: (1)

Why should I?! - nobody put a gun to their head and made them join the public sector.

Perhaps I'm being a little bit (ok, possibly a lot) simplistic but the retirement age should be the same irrespective of whether you work in the public or private sector.

Adrian F

I think what he was saying is that they took a lower wage in part because they get a better pension.

You cant take the Pension away after they have taken the job on that basis, maybe make all future employee's not have a final salery pension and work till 68 but then working for the state would lose a lot of its appeal and anybody any good will leave and work in the private sector leaving all public services in the hands of the people who they can get rather than the right person for the job. Then of course you will have to pay more to get quality staff and taxes will rise to pay wages!

J4CKO

iTrader: (1)

I work in the public sector, we do get a very good pension compared to the rest of the population its true but to be honest if the pension goes I will leave as well, I can earn more in the private sector, pay my own pension and still be in pocket, in the meantime who does the job I have left ?, we are struggling to recruit anyway as the salaries are quite a bit lower and to be honest who really worries about pensions when looking at a salary, its a consideration but so is having a life now.

Public sector pensions are not just about the largely useless town hall nobody knows quite what they do for 60 grand a year brigade, there are legions of caretakers and cleaners that earn a pittance and have very little prospects of anything better, do you really begrudge them a decent pension ?

Somebody has to do it !

pslewis

And received NO company cars!!

And received NO bonuses!!

And accepted lower pay!!

And had NO BUPA!!

Sorry, the Public Sector signed up to very few benefits, except a reasonable pension ............. you CANNOT take that away from exsisting Public Servants!!

Private Sector tossers now complaining could have joined the Public Service .... they chose money and benefits over a future pension so TOUGH!!

By the way, I work in the Private Sector - but have worked in the Public Sector too!

Pete

alcazar

iTrader: (2)

You've missed the point: the people in the public sector CHOSE to work there and earn less, so that they could retire earlier. They made their choice, so have you.

Now both sides have to honour the others' choice.

Alcazar

pslewis

Well said!!

Pete

Nick Read

Yes that's a fair point above ^^^

As a public sector worker, yes I made my choice. I'd like to think that when I do retire, at 60 if I'm not burnt out long before that, I can look back on my working life and say that I did something worthwhile that helped the society I live in. Public sector jobs aren't all about choosing lower pay in exchange for a decent retirement.

It really gets me angry when you see headlines about public sector workers. There are over 5 million of us in the UK - teachers, doctors, nurses, policemen, street-sweepers, bin men, councillors, magistrates, firemen, armed forces etc etc. I don't want to tread on any toes here, but I'd rather live in a world of public sector workers than a world of filing clerks, telesales staff, burger flippers, no-win-no-fee compensation firms, insurance salesmen, bank cashiers, hairdressers, stockbrokers and fatcat company directors.

Private sector workers would do well to remember that their freedom to pull in bonuses, raises, overtime, company cars and to hop from one high paying job to another stems from the public sector workers who delivered them at birth, took care of their health throughout their life, educated them and gave them the skills to make their own way in the world, emptied their bins, lit their streets, protected them from crime and all the rest.

As British society becomes more antisocial and self-centred, the public sector is needed more than ever.

pslewis

Superb post Nick!!

You did miss out one thing ...... the Public Sector allows them to sleep soundly knowing that an attack by a foreign power is unlikely ...... and if it did happen then they can be assured that retribution will be unleashed upon the killers of their families!

Pete

J4CKO

iTrader: (1)

I came back to look at this thread, expecting a flaming and was dissapointed, instead we have sensible reasoned debate, this cannot be allowed to continue, please provide me with a smug, self centered, single, gadget boy to berate me for working in the public sector and for daring to bring children into the world as it costs him in tax, therefore he cannot afford an XBOX 360 and a 60 inch plasma this month.

Stainy

You (and all the newspapers/tv and other media) 've all missed the point in any case.

The pension referred to for the civil servants is an occupational pension. The pension referred to in the media is old age pension. The media are conveniently merging the two to try and dramatise this and pick on public sector workers.

The truth of the matter is that everyone will come under the 65/66/67/68 rules when they get old age pension.

The media don't bother to point this out and try to say that things will be better for public sector workers. This is total crap as what they are getting is an occupational pension which pays out at 60. The same as millions of other workers that get a pension as part of their benefits in the private sector or who choose to save a bit of the 'extra' money they get (over public sector workers) into a private pension fund. The old age pension will be payable in addition to any occupational/private pensions

It appears the media have succeeded

Deep Singh

I can't believe it but I agree with PSL!!!

Tiggs

save your own money and retire when you like.

dsmith

The mis-matches of ages is indeed missing the point.

The thing we should be debating is why we are continuing to fund final salary schemes years after private companies closed them to new entrants- and are eroding benefits to existning employees.

Its the final salary schemes that are unsustainable.

carl

Interestingly, a recent report said that in the IT industry public sector pay is now more than private sector pay.

alcazar

iTrader: (2)

Quite right. Talking to an insurance guy last night, he pointed out that the current debate is actually a red herring, and it's as Stainy says above.

Stainy: are you from Stainforth?

Alcazar

pslewis

Historically, and taken over the long term ..... the Private sector ALWAYS pays more

Pete

Stainy

Originally a Lancastrian from BUUUURNLEH Now living it up on the Yorkshire Moors

Leslie

Its all to fill that big black hole generated by the Chancellor anyway, as well as the next round of vicious stealth taxes!

Didn't they have a really good fish and chip shop in Stainforth?

Les

The Rani

That isn't strictly speaking true. I work in the public sector, have done for many years. Two years ago I moved to a job nearer home. New area = new contract. Old contract said retire from 50 upwards, new one says 65.